Abbey Taverna Limited - Accounts to registrar (filleted) - small 18.2
Abbey Taverna Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| FOR |
| ABBEY TAVERNA LIMITED |
| ABBEY TAVERNA LIMITED (REGISTERED NUMBER: 06027322) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| ABBEY TAVERNA LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 Kings Avenue |
| London |
| N21 3NA |
| ABBEY TAVERNA LIMITED (REGISTERED NUMBER: 06027322) |
| STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The director acknowledges her 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| ABBEY TAVERNA LIMITED (REGISTERED NUMBER: 06027322) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| Abbey Taverna Limited is a |
| 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 |
| The financial statements have been prepared on a going concern basis as the directors are satisfied that the |
| company will have adequate resources to meet its liabilities to third parties as they fall due. |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance |
| with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
| date of transition to FRS 102 Section 1A is 1 December 2015. |
| As there is no impact of the transition on the financial statements of the company, the reconciliation of equity |
| and profit and loss is not considered necessary. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is required to make judgements, estimates |
| and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other |
| sources. The estimates and associated assumptions are based on historical experience and other factors that |
| are relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
| estimates are recognised in the period in which the estimate is revised where the revision affects only that |
| period or in the period of the revision and future periods where the revision affects both current and future |
| periods. |
| There are no significant judgements or estimates involved in the preparation of the financial statements. |
| Revenue |
| Revenue represents the property management fees and rents receivable. |
| Property, plant and equipment |
| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment |
| losses. Such cost includes costs directly attributable to making the assets capable of operating as intended. |
| The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances |
| indicate the carrying value may not be recoverable. |
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful |
| lives. |
| Plant and machinery 15% on reducing balance |
| The company has adopted the policy of not depreciating the assets in the year of acquisition. However, full |
| depreciation will be provided in the year of disposal. |
| 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. |
| ABBEY TAVERNA LIMITED (REGISTERED NUMBER: 06027322) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at |
| the statement of financial position 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. |
| Cash and cash equivalent |
| Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short |
| term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly |
| liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant |
| risk of changes in value. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
| preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in |
| profit or loss. |
| Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes |
| recognised in profit and loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 December 2016 |
| and 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| ABBEY TAVERNA LIMITED (REGISTERED NUMBER: 06027322) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2016 |
| and 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 217,923 | 282,170 |
| The bank loan is secured on the property by way of fixed and floating charge on the freehold property. |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |