Abbey Windows (Thames Valley) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03531430 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

ABBEY WINDOWS (THAMES VALLEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A B Young

N Whitehead

SECRETARY:

Mrs A J Young

REGISTERED OFFICE:

Griffins Court

24-32 London Road

Newbury

Berkshire

RG14 1JX

REGISTERED NUMBER:

03531430 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Chartered Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

66,838

90,830

66,838

90,830

CURRENT ASSETS

Stocks

12,160

14,770

Debtors

6

343,449

269,214

Cash at bank and in hand

613,141

522,986

968,750

806,970

CREDITORS

Amounts falling due within one year

7

690,039

564,713

NET CURRENT ASSETS

278,711

242,257

TOTAL ASSETS LESS CURRENT
LIABILITIES

345,549

333,087

PROVISIONS FOR LIABILITIES

9,568

13,370

NET ASSETS

335,981

319,717

CAPITAL AND RESERVES

Called up share capital

8

247

Share premium

69,758

Capital redemption reserve

30

Retained earnings

265,946

249,682

SHAREHOLDERS' FUNDS

335,981

319,717

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.

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 23 March 2018 and were signed on its behalf by:

A B Young - Director

N Whitehead - Director

1.	STATUTORY INFORMATION

Abbey Windows (Thames Valley) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistency applied to all years presented unless stated otherwise.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that

affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the

amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will

flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This

is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

20% on reducing balance

Plant and machinery

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and

compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation

decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is

probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Short-term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

7,000

AMORTISATION

At 1 July 2016

and 30 June 2017

7,000

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

£

COST

At 1 July 2016

51,527

55,649

8,562

At 30 June 2017

51,527

55,649

8,562

DEPRECIATION

At 1 July 2016

35,901

36,245

7,010

Charge for year

3,125

2,910

233

Eliminated on disposal

-

At 30 June 2017

39,026

39,155

7,243

NET BOOK VALUE

At 30 June 2017

12,501

16,494

1,319

At 30 June 2016

15,626

19,404

1,552

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 July 2016

126,365

51,187

293,290

Additions

2,290

2,507

4,797

Disposals

(28,895

)

-

(28,895

)

At 30 June 2017

99,760

53,694

269,192

DEPRECIATION

At 1 July 2016

75,628

47,676

202,460

Charge for year

11,804

3,115

21,187

Eliminated on disposal

(21,293

)

-

(21,293

)

At 30 June 2017

66,139

50,791

202,354

NET BOOK VALUE

At 30 June 2017

33,621

2,903

66,838

At 30 June 2016

50,737

3,511

90,830

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

147,337

150,757

Amounts recoverable on contract

145,010

61,498

Other debtors

51,102

56,959

343,449

269,214

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

142,318

137,162

Taxation and social security

173,564

192,882

Other creditors

374,157

234,669

690,039

564,713

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

Value :

£

90

Ordinary

£1

90

100

Ordinary A Non Voting

£1

100

39

Ordinary B

£1

39

15

Ordinary C

£1

15

3

Ordinary D

£1

3

247

9.	RELATED PARTY DISCLOSURES

At the year end key management personnel of the company were owed £948 (2016 - £1,765).

10.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Financial Reporting Standard 102 (FRS

102) issued by the Financial Reporting Council. The last financial statements prepared under the previous UK GAAP were

for the year ended 30 June 2016 and the date of transition was therefore 1 July 2015. As a consequence of adopting FRS

102 the directors are of the opinion that no adjustments need to be made upon transition to this accounting standard.