Company Registration No. 08341863 (England and Wales)
Abbey Oaks Limited
Unaudited accounts
for the year ended 31 December 2020
Abbey Oaks Limited
Unaudited accounts
Contents
Abbey Oaks Limited
Company Information
for the year ended 31 December 2020
Directors
Michael Stout
Deborah Stout
Company Number
08341863 (England and Wales)
Registered Office
SUCCOMBS PLACE 1 SUCCOMBS PLACE
SOUTHVIEW ROAD
WARLINGHAM
SURREY
CR6 9JQ
ENGLAND
Abbey Oaks Limited
Statement of financial position
as at 31 December 2020
Tangible assets
37,104
48,658
Cash at bank and in hand
48,674
29,156
Creditors: amounts falling due within one year
(22,938)
(38,903)
Net current assets
41,036
5,553
Total assets less current liabilities
78,140
54,211
Creditors: amounts falling due after more than one year
(43,670)
(36,758)
Called up share capital
10
10
Profit and loss account
34,460
17,443
Shareholders' funds
34,470
17,453
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2021 and were signed on its behalf by
Michael Stout
Director
Company Registration No. 08341863
Abbey Oaks Limited
Notes to the Accounts
for the year ended 31 December 2020
Abbey Oaks Limited is a private company, limited by shares, registered in England and Wales, registration number 08341863. The registered office is SUCCOMBS PLACE 1 SUCCOMBS PLACE, SOUTHVIEW ROAD, WARLINGHAM, SURREY, CR6 9JQ, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources funding or support will be more than adequate for the company's needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic Financial instruments
Trade and other debtors/creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at
amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
Abbey Oaks Limited
Notes to the Accounts
for the year ended 31 December 2020
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % Reducing Balance
Motor vehicles
25 % Reducing Balance
Computer equipment
3 years straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2020
1,384
44,450
18,573
64,407
At 31 December 2020
2,560
44,450
18,573
65,583
At 1 January 2020
346
1,852
13,551
15,749
Charge for the year
406
10,650
1,674
12,730
At 31 December 2020
752
12,502
15,225
28,479
At 31 December 2020
1,808
31,948
3,348
37,104
At 31 December 2019
1,038
42,598
5,022
48,658
5
Debtors: amounts falling due within one year
2020
2019
Trade debtors
15,300
15,300
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
8,561
8,561
Trade creditors
9,540
33,992
Taxes and social security
3,641
(3,650)
Loans from directors
1,196
-
Abbey Oaks Limited
Notes to the Accounts
for the year ended 31 December 2020
7
Creditors: amounts falling due after more than one year
2020
2019
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
9
Transactions with related parties
Michael Stout & Deborah Stout are both directors and shareholders of the company and holding 50% shares each in the company.
10
Average number of employees
During the year the average number of employees was 0 (2019: 0).
