ACCOUNTS - Final Accounts

ABBEYPOWER LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31E R Associates (ML) Ltd Mico Holding Ltd2true2022-01-01trueNo description of principal activity2true 04331815 2022-01-01 2022-12-31 04331815 2021-01-01 2021-12-31 04331815 2022-12-31 04331815 2021-12-31 04331815 c:Director1 2022-01-01 2022-12-31 04331815 d:CurrentFinancialInstruments 2022-12-31 04331815 d:CurrentFinancialInstruments 2021-12-31 04331815 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04331815 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04331815 d:ShareCapital 2022-12-31 04331815 d:ShareCapital 2021-12-31 04331815 c:EntityHasNeverTraded 2022-01-01 2022-12-31 04331815 c:FRS102 2022-01-01 2022-12-31 04331815 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 04331815 c:FullAccounts 2022-01-01 2022-12-31 04331815 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04331815 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 04331815

ABBEYPOWER LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022


ABBEYPOWER LIMITED REGISTERED NUMBER:04331815

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		66,700		66,700
			66,700		66,700

Creditors: amounts falling due within one year	5	(66,698)		(66,698)
Net current liabilities			(66,698)		(66,698)
Total assets less current liabilities			2		2

Net assets			2		2

Capital and reserves
Called up share capital	2	2
	2	2

For the year ended 31 December 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the income and expenditure account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R Clucas

Director

Date: 29 September 2023

The notes on pages 2 to 4 form part of these financial statements.

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ABBEYPOWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

Abbeypower Limited is a private company limited by shares incorporated in England and Wales in the United Kingdom. The address of the registered office is 40 Churchill Square, Kings Hill, West Malling, Kent, ME19 4YU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The financial statements have been prepared on a going concern basis which is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. A written commitment to the provision of support for at least twelve months has been received from Montgomery Investment Company SA, the parent company, should that support be required.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

2.2

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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ABBEYPOWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

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ABBEYPOWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2022	66,700
	At 31 December 2022	66,700

5.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other creditors	66,698	66,698
	66,698	66,698

6.	Ultimate parent

The immediate parent company is E R Associates (ML) Ltd, a company registered in England and Wales. The parent of the smallest group for which consolidated financial statements are available is Mico Holding Ltd, registered at Suite 24, 40 Churchill Square, Kings Hill, West Malling, England, ME19 4YU.

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