Abbots Care Training Limited - Filleted accounts

Registered number

06410032

Abbots Care Training Limited

Filleted Accounts

31 May 2017

Abbots Care Training Limited
Registered number:		06410032
Balance Sheet
as at 31 May 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		582,877			583,011

Current assets
Debtors	3	3,942			2,471
Cash at bank and in hand		4,487			34
		8,429			2,505

Creditors: amounts falling due within one year	4	(100,671)			(42,326)

Net current liabilities			(92,242)			(39,821)

Total assets less current liabilities			490,635			543,190

Creditors: amounts falling due after more than one year	5		(482,905)			(480,911)



Net assets			7,730			62,279

Capital and reserves
Called up share capital			2			3
Profit and loss account			7,728			62,276

Shareholders' funds			7,730			62,279

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.




C Leavold
Director
Approved by the board on 22 January 2018

Abbots Care Training Limited
Notes to the Accounts
for the year ended 31 May 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	25% to 33.3% straight line

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 June 2016	575,367		45,156		620,523
	Additions	-		5,571		5,571
	At 31 May 2017	575,367		50,727		626,094

	Depreciation
	At 1 June 2016	-		37,512		37,512
	Charge for the year	-		5,705		5,705
	At 31 May 2017	-		43,217		43,217

	Net book value
	At 31 May 2017	575,367		7,510		582,877
	At 31 May 2016	575,367		7,644		583,011


3	Debtors			2017		2016
£					£

	Trade debtors			1,645		-
	Other debtors			2,297		2,471
				3,942		2,471


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

	Bank loans and overdrafts			53,833		-
	Trade creditors			25,689		36,962
	Taxation and social security costs			19,337		3,052
	Other creditors			1,812		2,312
				100,671		42,326


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

	Bank loans			377,310		297,914
	Amounts owed to related parties			105,595		182,997
				482,905		480,911


6	Related party transactions			2017		2016
£					£
	Abbots Care Limited
	Mrc C Leavold is a director and shareholder of Abbots Care Limited.

	Sales			123,496		126,103
	Amount due to related party at year end			(105,595)		(182,997)


7	Other information

	Abbots Care Training Limited is a private company limited by shares and incorporated in England. Its registered office is:

	Phoenix House
	Campfield Road
	St Albans
	Herts
	AL1 5FL