Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 18.2

Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 18.2

ABBEYBECK ESTATES LTD - Company Information

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REGISTERED NUMBER: 04374459 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

ABBEYBECK ESTATES LTD
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABBEYBECK ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTORS: S K Pala
Mrs V Pala





REGISTERED OFFICE: Suite 205, East Wing
Sterling House
Langston Road
Loughton
Essex
IG10 3TS





REGISTERED NUMBER: 04374459 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY
Page 1
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

BALANCE SHEET
30 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,082,367 4,082,367

CURRENT ASSETS
Debtors 5 3,680 3,929
Cash at bank 75,369 935,295
79,049 939,224
CREDITORS
Amounts falling due within one year 6 577,271 567,037
NET CURRENT (LIABILITIES)/ASSETS (498,222 ) 372,187
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,584,145
4,454,554

CREDITORS
Amounts falling due after more than one
year
7
2,521,249
3,570,504
NET ASSETS 1,062,896 884,050

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 962,896 784,050
SHAREHOLDERS' FUNDS 1,062,896 884,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 notes form part of these financial statements

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ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

BALANCE SHEET - continued
30 SEPTEMBER 2021


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 Board of Directors and authorised for issue on 1 June 2022 and were signed on its behalf by:





S K Pala - Director


The notes form part of these financial statements

Page 3
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. STATUTORY INFORMATION

Abbeybeck Estates 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.

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.

Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

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 2 (2020 - 2 ) .

Page 4 continued...
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2020
and 30 September 2021 4,082,367
NET BOOK VALUE
At 30 September 2021 4,082,367
At 30 September 2020 4,082,367

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2021 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
2021 2020
£    £   
Trade debtors 3,680 3,680
Prepayments - 249
3,680 3,929

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 139,460 141,263
Corporation Tax payable 36,789 1,735
VAT 12,000 23,517
Director's current account 341,942 351,942
Accrued expenses 2,080 2,080
Deferred Income 45,000 46,500
577,271 567,037

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - more than 1 year 2,032,271 2,108,285
Bounce back loan 46,759 50,000
Amounts owed to associates 442,219 1,412,219
2,521,249 3,570,504

Amounts falling due in more than five years:

Repayable by instalments
Bounce back loan 46,759 50,000

The bank loans from Lloyds Bank Plc are secured by way of a first legal charge over the assets of the company.

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ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

8. RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount of £341,942 (2020: £351,942) due to Mr S Pala, director of the company.

Included in creditors falling due after more than one year is an amount of £442,219 (2020:£1,412,219) 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.

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