Ablemark Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00662253 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Ablemark Limited

Page

Company Information

1

Report of the Accountants

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R P Salmon

Mrs M W Salmon

SECRETARY:

Mrs M W Salmon

REGISTERED OFFICE:

159 Cambridge Street

Aylesbury

Buckinghamshire

HP20 1BQ

REGISTERED NUMBER:

00662253 (England and Wales)

ACCOUNTANTS:

AM Taxation Limited

Unit 3 The Courtyard

Milton Road

Aylesbury

Buckinghamshire

HP21 7LZ

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Ablemark Limited for the year ended 30 June 2017 which

comprises the Income Statement, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Ablemark Limited, as a body, in accordance

with the terms of our engagement letter. Our work has been undertaken solely to prepare for your

approval the accounts of Ablemark Limited and state those matters that we have agreed to state to

them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than Ablemark Limited and its Board of Directors as a body for our

work or for this report.

It is your duty to ensure that Ablemark Limited has kept adequate accounting records and to

prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position

and profit of Ablemark Limited. You consider that Ablemark Limited is exempt from the statutory

audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ablemark Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion

on the statutory accounts.

AM Taxation Limited

Unit 3 The Courtyard

Milton Road

Aylesbury

Buckinghamshire

HP21 7LZ

21 November 2017

FIXED ASSETS

Tangible assets

4

773

811

Investment property

5

902,501

875,001

903,274

875,812

CURRENT ASSETS

Debtors

26,566

1,857

Investments

96,684

-

Cash at bank and in hand

217,314

349,463

340,564

351,320

CREDITORS

Amounts falling due within one year

14,786

24,639

NET CURRENT ASSETS

325,778

326,681

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,229,052

1,202,493

PROVISIONS FOR LIABILITIES

6

109,042

111,353

NET ASSETS

1,120,010

1,091,140

CAPITAL AND RESERVES

Called up share capital

251

Revaluation reserve

7

642,342

614,842

Other reserves

1,000

Retained earnings

476,417

475,047

SHAREHOLDERS' FUNDS

1,120,010

1,091,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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:

Mrs M W Salmon - Director

Mr R P Salmon - Director

1.	STATUTORY INFORMATION

Ablemark Limited 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in the revaluation reserve.

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

2,681

Additions

150

At 30 June 2017

2,831

DEPRECIATION

At 1 July 2016

1,870

Charge for year

188

At 30 June 2017

2,058

NET BOOK VALUE

At 30 June 2017

773

At 30 June 2016

811

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

875,001

Revaluations

27,500

At 30 June 2017

902,501

NET BOOK VALUE

At 30 June 2017

902,501

At 30 June 2016

875,001

Fair value at 30 June 2017 is represented by:

£

Valuation in 2007

719,430

Valuation in 2009

(135,000

)

Valuation in 2011

40,780

Valuation in 2015

249,791

Valuation in 2017

27,500

902,501

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

historical cost:

30.6.17

30.6.16

£

Cost

240,939

Investment property was valued on an open market basis on 30 June 2017 by Mr R Salmon, a director

.

6.	PROVISIONS FOR LIABILITIES

30.6.17

30.6.16

£

Deferred tax

Other timing differences

109,042

111,353

Deferred

tax

£

Balance at 1 July 2016

111,353

Credit to Income Statement during year

(2,311

)

Balance at 30 June 2017

109,042

7.

RESERVES

Revaluation

reserve

£

At 1 July 2016

614,842

Surplus/(deficit) on revaluation

27,500

At 30 June 2017

642,342

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

30 June 2017 and 30 June 2016:

30.6.17

30.6.16

£

Mr R P Salmon

Balance outstanding at start of year

-

Amounts advanced

25,706

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

25,706

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R P Salmon.