Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 18.2
Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
FOR |
ABBEYBECK ESTATES LTD |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ABBEYBECK ESTATES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
BALANCE SHEET |
30 SEPTEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
BALANCE SHEET - continued |
30 SEPTEMBER 2020 |
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 and authorised for issue on |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
1. | STATUTORY INFORMATION |
Abbeybeck Estates Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
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. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of rent receivable for the year and expenses recharged to the tenants. |
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. |
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 |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2019 |
and 30 September 2020 |
NET BOOK VALUE |
At 30 September 2020 |
At 30 September 2019 |
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2020 by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax payable |
VAT | 23,517 | 12,000 |
Director's current account | 351,942 | 501,942 |
Accrued expenses |
Deferred Income | 46,500 | 37,500 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans - more than 1 year |
Bounce back loan |
Amounts owed to associates | 1,412,219 | 1,642,219 |
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2020 | 2019 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bounce back loan | 50,000 | - |
The bank loans from Lloyds Bank Plc are secured by way of a first legal charge over the assets of the company. |
8. | RELATED PARTY DISCLOSURES |
Included in creditors due within one year is an amount of £351,942 (2019: £501,942) due to Mr S Pala, director of the company. |
Included in creditors falling due after more than one year is an amount of £1,412,219 (2019:£1,642,218) due to Sona Enterprises Limited. Abbeybeck Estates Limited and Sona Enterprises Limited are related by virtue of having common director and shareholder. |
There are no terms as to interest or repayment attached to the above balances. |