Abbeymews Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08989570 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

ABBEYMEWS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Fletcher

I G Fletcher

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

08989570 (England and Wales)

ACCOUNTANTS:

Civvals Limited

50 Seymour Street

London

W1H 7JG

CURRENT ASSETS

Stocks

4

160,000

Cash in hand

2

160,002

CREDITORS

Amounts falling due within one year

5

158,625

158,325

NET CURRENT ASSETS

1,377

1,677

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,377

1,677

CREDITORS

Amounts falling due after more than one
year

6

490,375

487,975

NET LIABILITIES

(488,998

)

(486,298

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(489,000

)

(486,300

)

SHAREHOLDERS' FUNDS

(488,998

)

(486,298

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 23 March 2022 and were signed on its behalf by:

I G Fletcher - Director

1.	STATUTORY INFORMATION

Abbeymews 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

STOCKS

2021

2020

£

Work-in-progress

160,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

1

Amounts owed to participating interests

157,724

Accrued expenses

900

600

158,625

158,325

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Directors' loan accounts

490,375

487,975

7.	RELATED PARTY DISCLOSURES

As at 31 March 2021, the company owed £487,180 (2020: £485,980) to I Fletcher and £3,195 (2020: £1,995) to R Fletcher, both of whom are the directors of the company.

As at 31 March 2021, the company owed £157,724 (2020: £157,724) to Daro Properties Ltd in which R Fletcher, a co-director, is also a director.

8.	GOING CONCERN

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the year end and has made a loss for the year.

The directors have considered the prospects of the company by reference to anticipated levels of future expenditure and the cash flow associated with that business.

The directors will continue to provide funding and working capital to enable the company to continue its operations and meet all its liabilities as and when they fall due.

For this reason, the directors believe that the continued use of the going concern basis of preparation is appropriate. The financial statements do not include any adjustment that may be necessary if the company was unable to continue its business.

Abbeymews Limited - Accounts to registrar (filleted) - small 18.2

Abbeymews Limited - Accounts to registrar (filleted) - small 18.2