Abington Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05116577 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Abington Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M L Duarte

REGISTERED OFFICE:

F7A Lynch Lane Offices

Lynch Lane

Weymouth

Dorset

DT4 9DN

REGISTERED NUMBER:

05116577 (England and Wales)

ACCOUNTANTS:

RWB Tax Consultants Limited

F7A Lynch Lane Offices

Lynch Lane

Weymouth

Dorset

DT4 9DN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,928

28,589

Investment property

6

162,285

162,285

175,213

190,874

CURRENT ASSETS

Stocks

7

5,000

7,750

Debtors

8

14,623

20,519

Cash at bank

54,289

53,600

73,912

81,869

CREDITORS

Amounts falling due within one year

9

114,848

117,993

NET CURRENT LIABILITIES

(40,936

)

(36,124

)

TOTAL ASSETS LESS CURRENT LIABILITIES

134,277

154,750

CREDITORS

Amounts falling due after more than one year

10

(91,044

)

(113,805

)

PROVISIONS FOR LIABILITIES

(2,456

)

(4,698

)

NET ASSETS

40,777

36,247

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11

40,677

36,147

SHAREHOLDERS' FUNDS

40,777

36,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 12 December 2020 and were signed by:

R M L Duarte - Director

1.	STATUTORY INFORMATION

Abington Construction 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

2,000

AMORTISATION

At 1 April 2019

and 31 March 2020

2,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

43,855

30,277

593

74,725

Disposals

(31,263

)

-

-

(31,263

)

At 31 March 2020

12,592

30,277

593

43,462

DEPRECIATION

At 1 April 2019

28,935

16,719

482

46,136

Charge for year

469

3,390

11

3,870

Eliminated on disposal

(19,472

)

-

-

(19,472

)

At 31 March 2020

9,932

20,109

493

30,534

NET BOOK VALUE

At 31 March 2020

2,660

10,168

100

12,928

At 31 March 2019

14,920

13,558

111

28,589

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

162,285

NET BOOK VALUE

At 31 March 2020

162,285

At 31 March 2019

162,285

7.

STOCKS

31.3.20

31.3.19

£

£

Work-in-progress

5,000

7,750

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

14,623

20,519

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

-

6,089

Tax

8,215

7,289

VAT

7,565

7,773

Other creditors

10,471

10,471

CIS creditor

877

-

Directors' current accounts

86,620

84,716

Accrued expenses

1,100

1,655

114,848

117,993

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans - 2-5 years

4,300

6,719

Bank loans more 5 yr by instal

86,744

107,086

91,044

113,805

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

86,744

107,086

11.

RESERVES

Retained

earnings

£

At 1 April 2019

36,147

Profit for the year

22,530

Dividends

(18,000

)

At 31 March 2020

40,677

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

R M L Duarte

Balance outstanding at start of year

(84,716

)

(85,974

)

Amounts advanced

24,676

1,258

Amounts repaid

(26,580

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(86,620

)

(84,716

)

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R M L Duarte.