Abbeymews Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 08989570 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABBEYMEWS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

3

160,000

613,107

Cash in hand

2

2

160,002

613,109

CREDITORS

Amounts falling due within one year

4

969

1,646

NET CURRENT ASSETS

159,033

611,463

TOTAL ASSETS LESS CURRENT LIABILITIES

159,033

611,463

CREDITORS

Amounts falling due after more than one year

5

623,683

613,107

NET LIABILITIES

(464,650

)

(1,644

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(464,652

)

(1,646

)

SHAREHOLDERS' FUNDS

(464,650

)

(1,644

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 May 2017 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 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.

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 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.

STOCKS

2017

2016

£

£

Work-in-progress

160,000

613,107

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Accrued expenses

969

1,646

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

157,724

157,724

Directors' loan accounts

465,959

455,383

623,683

613,107

6.	RELATED PARTY DISCLOSURES

As at 31 March 2017, the company owed £465,959 to I Fletcher, who is a co-director.

As at 31 March 2017, the company owed £157,724 to Daro Properties Ltd in which R Fletcher, a co-director, is

also a director.

7.	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.