REGISTERED NUMBER: 05907655 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

Abbey Properties (Cheltenham) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Scanlan

Mr N A Brimble

REGISTERED OFFICE:

20 Kings Gate

Tewkesbury

Gloucestershire

GL20 8EU

REGISTERED NUMBER:

05907655 (England and Wales)

FIXED ASSETS

Investment property

4

100,000

217,500

CURRENT ASSETS

Debtors

5

883

3,895

Cash at bank

1,581

311

2,464

4,206

CREDITORS

Amounts falling due within one year

6

94,159

149,985

NET CURRENT LIABILITIES

(91,695

)

(145,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,305

71,721

CREDITORS

Amounts falling due after more than one year

7

-

62,661

NET ASSETS

8,305

9,060

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

7,305

8,060

SHAREHOLDERS' FUNDS

8,305

9,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 November 2017 and were signed on its behalf by:

Mr N Scanlan - Director

1.	STATUTORY INFORMATION

Abbey Properties (Cheltenham) Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added

Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the

year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going

services is recognised by reference to the stage of completion.

Investment property

Certain of the company's properties are held for long term investment and in accordance with Statement of Standard

Accounting Practice 19 are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. No

depreciation is provided on such properties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2016

217,500

Disposals

(117,500

)

At 31 August 2017

100,000

NET BOOK VALUE

At 31 August 2017

100,000

At 31 August 2016

217,500

Fair value at 31 August 2017 is represented by:

£

Valuation in 2009

971

Valuation in 2012

(18,867

)

Valuation in 2016

8,867

Cost

109,029

100,000

If investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

109,029

231,048

Investment property was valued on an open market basis on 31 August 2016 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

1,421

Other debtors

883

2,474

883

3,895

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

9,644

Corporation tax

620

1,204

Other creditors

5,660

5,800

Directors' current accounts

87,249

132,707

Accrued expenses

630

630

94,159

149,985

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

-

43,334

Bank loans more 5 yr by instal

-

19,327

-

62,661

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

19,327

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

72,305

The security to be held is first legal charge over the investment properties held by the company.