REGISTERED NUMBER: 03575157 (England and Wales)

ABBEY PYNFORD FOUNDATION

SYSTEMS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2016

Page

Company Information

1

Abridged Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

P Kiss

P N Jones

SECRETARY:

P Kiss

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

03575157 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

FIXED ASSETS

Tangible assets

4

53,346

83,813

CURRENT ASSETS

Debtors

5

261,422

557,290

Cash at bank

11,626

13,109

273,048

570,399

CREDITORS

Amounts falling due within one year

(300,095

)

(644,160

)

NET CURRENT LIABILITIES

(27,047

)

(73,761

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,299

10,052

PROVISIONS FOR LIABILITIES

(9,958

)

-

NET ASSETS

16,341

10,052

CAPITAL AND RESERVES

Called up share capital

6

50,000

50,000

Retained earnings

(33,659

)

(39,948

)

SHAREHOLDERS' FUNDS

16,341

10,052

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 Statement of Financial Position for the year ended 30th November 2016 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 3rd August 2017 and were signed on its behalf by:

P Kiss - Director

1.	STATUTORY INFORMATION

Abbey Pynford Foundation Systems 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not

to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 3,

management is required to make judgements estimates and assumptions about the carrying

value of assets and liabilities that are not readily apparent from other sources. The estimates and

underlying assumptions are based on historical experience and other factors that are considered

to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The Key sources of estimation uncertainty that have a significant effect on the amounts

recognised in the financial statements are described below.

Significant judgements and estimates - continued

- Useful economic life of tangible assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated

useful lives and residual values of the assets. The useful economic lives and residual values are

re-assessed annually. They are amended when necessary to reflect current estimates, based on

technological advancement, future investments, economic utilisation and physical condition of

the assets.

- Impairment of receivables

The company makes an estimate of the recoverable value of trade and other receivables. When

assessing impairment of trade and other receivables, management considers factors including the

current credit rating of the receivable, the ageing profile of debtors and historical experience.

- Long term contracts

Long term contracts are assessed on a contract basis and are reflected in the income statement

by recording turnover and related costs as contract activity progresses. Where the outcome of

each long term contract can be assessed with reasonable certainty before its conclusion, the

attributable profit is recognised in the income statements as the difference between the reported

turnover and the related costs for that contract.

Amounts recoverable on long term contracts, which are included in debtors are stated at the net

sales value of the work done after provisions for contingencies and anticipated future losses on

contracts, less amounts received as progress payments on account. Excess progress payments

are included in creditors as payments received on account.

Turnover

Turnover represents total invoiced sales of goods, excluding value added tax, trade discounts and

all other taxes of sales made in the year.

Income recognition

Income is recognised when goods have been delivered and services supplied to customers such

that risks and rewards of ownership have transferred to them.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 10% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the statement of financial position date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Provision for guarantees

Provisions for the expected costs of maintenance under guarantees are charged against profits

when products have been invoiced. The effect of the time value of money is not material and

therefore the provisions are not discounted.

Financial instruments

Basic financial instruments are recognised at amortised cost, with changes recognised on the

income statement. Derivative financial instruments are initially recorded at cost and thereafter

at fair value with changes recognised on the income statement.

4.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1st December 2015

and 30th November 2016

448,766

Depreciation

At 1st December 2015

364,953

Charge for year

30,467

At 30th November 2016

395,420

Net book value

At 30th November 2016

53,346

At 30th November 2015

83,813

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

150,000

150,000

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

40,000

Ordinary A

£1

40,000

40,000

10,000

Ordinary B

£1

10,000

10,000

50,000

50,000

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nilesh Savjani (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

8.	CONTINGENT LIABILITIES

9.	IMMEDIATE PARENT UNDERTAKING

Abbey Pynford Holdings Limited, a company incorporated in England and Wales, is the parent and

the ultimate parent company and therefore controls the company. The registered address of the

parent company is First Floor, West Wing IMEX, Maxted Road, Hemel Hempstead, Hertfordshire,

HP2 7DX, from which copies of the consolidated group accounts can be obtained.

10.	TRANSITION TO FINANCIAL REPORTING STANDARD 102

This is the first year that the company has presented its results in accordance with the provisions

of Section 1A "Small Entities" of Financial Reporting Standard 102. The last financial statements

under the provisions of UK GAAP were for the year ended 30 November 2015. The date of the

transition to Section 1A "Small Entities" of Financial Reporting Standard 102 was 1 December

2014. There has been no effect on the financial statements arising from the transition from UK

GAAP as previously reported and Section 1A "Small Entities" of Financial Reporting Standard 102.