Abbey Pack Eggs Limited - Filleted accounts

Abbey Pack Eggs Limited
Registered number:		01265623
Balance Sheet
as at 31 October 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		396,642			404,807

Current assets
Stocks		4,750			4,500
Debtors	4	132,570			128,915
Cash at bank and in hand		177,219			268,492
		314,539			401,907

Creditors: amounts falling due within one year	5	(94,254)			(153,418)

Net current assets			220,285			248,489

Total assets less current liabilities			616,927			653,296


Provisions for liabilities			(19,479)			-


Net assets			597,448			653,296

Capital and reserves
Called up share capital			100			100
Profit and loss account			597,348			653,196

Shareholders' funds			597,448			653,296

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M Abbey
Director
Approved by the board on 23.11.17

Abbey Pack Eggs Limited
Notes to the Accounts
for the year ended 31 October 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 5 years
	Motor vehicles			over 4 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2017		2016
Number							Number

	Average number of persons employed by the company					4		4


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 November 2016	294,121		191,521		18,663		504,305
	Additions	-		13,350		14,410		27,760
	Disposals	-		(10,950)		-		(10,950)
	At 31 October 2017	294,121		193,921		33,073		521,115

	Depreciation
	At 1 November 2016	-		90,989		8,509		99,498
	Charge for the year	-		21,024		6,141		27,165
	On disposals	-		(2,190)		-		(2,190)
	At 31 October 2017	-		109,823		14,650		124,473

	Net book value
	At 31 October 2017	294,121		84,098		18,423		396,642
	At 31 October 2016	294,121		100,532		10,154		404,807


4	Debtors					2017		2016
£							£

	Trade debtors					113,895		105,789
	Other debtors					18,675		23,126
						132,570		128,915


5	Creditors: amounts falling due within one year					2017		2016
£							£

	Trade creditors					73,053		50,443
	Corporation tax					-		9,058
	Other taxes and social security costs					745		1,069
	Other creditors					20,456		92,848
						94,254		153,418


6	Other information

	Abbey Pack Eggs Limited is a private company limited by shares and incorporated in England. Its registered office is:
	233 Wigan Road
	Ashton in Makerfield
	Wigan
	WN4 9SL