Abbeygate Enterprises Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01175835 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2018

for

Abbeygate Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr M Georgiou

Mrs A Georgiou

Mr N Georgiou

Mrs V Georgiou-Holden

SECRETARY:

Mrs A Georgiou

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

01175835 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

173

240

Investments

5

78,462

73,093

Investment property

6

1,584,000

1,584,000

1,662,635

1,657,333

CURRENT ASSETS

Debtors

7

3,357

4,681

Cash at bank

243,951

247,727

247,308

252,408

CREDITORS

Amounts falling due within one year

8

122,393

120,897

NET CURRENT ASSETS

124,915

131,511

TOTAL ASSETS LESS CURRENT LIABILITIES

1,787,550

1,788,844

PROVISIONS FOR LIABILITIES

9

107,950

112,621

NET ASSETS

1,679,600

1,676,223

CAPITAL AND RESERVES

Called up share capital

10

150,000

150,000

Fair value reserve

11

895,330

885,289

Retained earnings

634,270

640,934

SHAREHOLDERS' FUNDS

1,679,600

1,676,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 10 January 2019 and were signed on its behalf by:

Mr N Georgiou - Director

1.	STATUTORY INFORMATION

Abbeygate Enterprises Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Rent represents the total rent due spread evenly over the period of the lease to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Investment property

Investment property is shown at most recent valuation. The last valuation by an independent valuer who holds

a recognised and relevant qualification was made in 2014. In the directors opinion there had not been any

significant change in this valuation as at 31st July 2018. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss. Deferred taxation is provided on those gains.

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.

Investments

Fixed asset investments are stated at fair value less provision for permanent diminution in value.

Impairment

At each reporting date, fixed assets, including tangible fixed assets, are assessed to determine whether there is

an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset

should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which

is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount.

If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated

recoverable amount and an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

and 31 July 2018

25,476

DEPRECIATION

At 1 August 2017

25,236

Charge for year

67

At 31 July 2018

25,303

NET BOOK VALUE

At 31 July 2018

173

At 31 July 2017

240

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2017

73,093

Revaluations

5,369

At 31 July 2018

78,462

NET BOOK VALUE

At 31 July 2018

78,462

At 31 July 2017

73,093

Cost or valuation at 31 July 2018 is represented by:

Other

investments

£

Valuation in 2018

22,632

Cost

55,830

78,462

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2017

and 31 July 2018

1,584,000

NET BOOK VALUE

At 31 July 2018

1,584,000

At 31 July 2017

1,584,000

Fair value at 31 July 2018 is represented by:

£

Valuation in 2018

980,647

Cost

603,353

1,584,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,846

837

Other debtors

511

3,844

3,357

4,681

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

7

1,178

Taxation and social security

25,786

25,093

Other creditors

96,600

94,626

122,393

120,897

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Other timing differences

107,950

112,621

Deferred

tax

£

Balance at 1 August 2017

112,621

Provided during year

(4,671

)

Balance at 31 July 2018

107,950

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

150,000

Ordinary

£1

150,000

150,000

11.

RESERVES

Fair

value

reserve

£

At 1 August 2017

885,289

Movement in year

10,041

At 31 July 2018

895,330

The revaluation reserve relates to investment properties and listed investments including deferred tax.