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REGISTERED NUMBER: 08000270 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Abbey Sales & Lettings Ltd
Trading as
Balmforth Estate Agents

Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abbey Sales & Lettings Ltd
Trading as Balmforth Estate Agents

Company Information
for the year ended 31 March 2023







DIRECTOR: R Love





REGISTERED OFFICE: 7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 08000270 (England and Wales)





ACCOUNTANTS: FWD Accounts Limited
7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR

Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 161,856 194,226
Tangible assets 4 4,039 5,637
165,895 199,863

CURRENT ASSETS
Debtors 5 15,360 12,748
Investments 6 1,273,266 321,481
Cash at bank 41,148 244,436
1,329,774 578,665
CREDITORS
Amounts falling due within one year 7 707,113 197,232
NET CURRENT ASSETS 622,661 381,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

788,556

581,296

CREDITORS
Amounts falling due after more than one
year

8

(332,726

)

(77,897

)

PROVISIONS FOR LIABILITIES (767 ) (1,072 )
NET ASSETS 455,063 502,327

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 455,062 502,326
SHAREHOLDERS' FUNDS 455,063 502,327

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Balance Sheet - continued
31 March 2023


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 director and authorised for issue on 15 November 2023 and were signed by:





R Love - Director


Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Notes to the Financial Statements
for the year ended 31 March 2023


1. 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.

Preparation of consolidated financial statements
The financial statements contain information about Abbey Sales & Lettings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 17 ) .

Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Notes to the Financial Statements - continued
for the year ended 31 March 2023


3. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 323,702 4 323,706
AMORTISATION
At 1 April 2022 129,480 - 129,480
Amortisation for year 32,370 - 32,370
At 31 March 2023 161,850 - 161,850
NET BOOK VALUE
At 31 March 2023 161,852 4 161,856
At 31 March 2022 194,222 4 194,226

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 16,761 4,253 21,014
DEPRECIATION
At 1 April 2022 11,526 3,851 15,377
Charge for year 1,309 289 1,598
At 31 March 2023 12,835 4,140 16,975
NET BOOK VALUE
At 31 March 2023 3,926 113 4,039
At 31 March 2022 5,235 402 5,637

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 9,757 12,145
Other debtors 5,603 603
15,360 12,748

6. CURRENT ASSET INVESTMENTS
31/3/23 31/3/22
£    £   
Shares in group undertakings 1,273,266 321,481

Abbey Sales & Lettings Ltd (Registered number: 08000270)
Trading as Balmforth Estate Agents

Notes to the Financial Statements - continued
for the year ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 274,276 55,640
Tax 17,694 70,590
Social security and other taxes 8,366 7,579
Net wages payable (114 ) -
VAT 17,901 23,691
Pension creditor 645 930
Castle EPM Ltd 60,000 -
Shires Estate Agents Ltd 224,204 -
Shires MBC Ltd 59,450 -
Directors' loan accounts 44,691 38,802
707,113 197,232

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans - 1-2 years 232,410 54,296
Bank loans - 2-5 years 100,316 23,601
332,726 77,897

9. ULTIMATE CONTROLLING PARTY

The controlling party is R Love.