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REGISTERED NUMBER: 01175835 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Abbeygate Enterprises Limited

Abbeygate Enterprises Limited (Registered number: 01175835)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Abbeygate Enterprises Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr M Georgiou
Mrs A Georgiou
Mr N Georgiou
Mrs V Georgiou





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

Abbeygate Enterprises Limited (Registered number: 01175835)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 73,633 58,485
Investment property 6 1,760,000 1,760,000
1,833,633 1,818,485

CURRENT ASSETS
Debtors 7 2,020 8,350
Cash at bank 202,560 212,529
204,580 220,879
CREDITORS
Amounts falling due within one year 8 130,950 132,276
NET CURRENT ASSETS 73,630 88,603
TOTAL ASSETS LESS CURRENT LIABILITIES 1,907,263 1,907,088

PROVISIONS FOR LIABILITIES 9 166,439 162,906
NET ASSETS 1,740,824 1,744,182

CAPITAL AND RESERVES
Called up share capital 10 150,000 150,000
Fair value reserve 11 1,005,844 994,230
Retained earnings 584,980 599,952
SHAREHOLDERS' FUNDS 1,740,824 1,744,182

Abbeygate Enterprises Limited (Registered number: 01175835)

Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 9 November 2023 and were signed on its behalf by:





Mr N Georgiou - Director


Abbeygate Enterprises Limited (Registered number: 01175835)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Abbeygate Enterprises 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.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 2022. In the directors opinion there had not been any significant change in this valuation as at 31st July 2023. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on those gains.

Abbeygate Enterprises Limited (Registered number: 01175835)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Abbeygate Enterprises Limited (Registered number: 01175835)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 333
DEPRECIATION
At 1 August 2022
and 31 July 2023 333
NET BOOK VALUE
At 31 July 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022 58,485
Revaluations 15,148
At 31 July 2023 73,633
NET BOOK VALUE
At 31 July 2023 73,633
At 31 July 2022 58,485

Abbeygate Enterprises Limited (Registered number: 01175835)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 July 2023 is represented by:

Other
investments
£   
Valuation in 2023 15,636
Cost 57,997
73,633

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 1,760,000
NET BOOK VALUE
At 31 July 2023 1,760,000
At 31 July 2022 1,760,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 1,156,647
Cost 603,353
1,760,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 6,750
Other debtors 2,020 1,600
2,020 8,350

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 57 11
Taxation and social security 23,242 28,792
Other creditors 107,651 103,473
130,950 132,276

Other creditors includes amounts due to the directors.

Abbeygate Enterprises Limited (Registered number: 01175835)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Other timing differences 166,439 162,906

Deferred
tax
£   
Balance at 1 August 2022 162,906
Provided during year 3,533
Balance at 31 July 2023 166,439

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150,000 Ordinary £1 150,000 150,000

11. RESERVES
Fair
value
reserve
£   
At 1 August 2022 994,230
Movement in year 11,614

At 31 July 2023 1,005,844

The revaluation reserve relates to investment properties and listed investments including deferred tax and is not distributable.