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Registration number: 04026660

Abbeywood Estates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Abbeywood Estates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Abbeywood Estates Limited

Company Information

Directors

Mrs Patricia Fowler

Mr Nathan George Fowler

Company secretary

Mrs Patricia Fowler

Registered office

46 Mead Road
Stoke Gifford
Bristol
BS34 8PS

Accountants

Burton Sweet Business and Rural Services Limited
Chartered Certified
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Abbeywood Estates Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abbeywood Estates Limited for the year ended 31 July 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Abbeywood Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Abbeywood Estates Limited and state those matters that we have agreed to state to the Board of Directors of Abbeywood Estates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbeywood Estates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abbeywood Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abbeywood Estates Limited. You consider that Abbeywood Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Abbeywood Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Burton Sweet Business and Rural Services Limited
Chartered Certified
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

15 November 2024

 

Abbeywood Estates Limited

(Registration number: 04026660)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,681

8,071

Investment property

5

407,000

407,000

Other financial assets

6

182,460

117,322

 

592,141

532,393

Current assets

 

Debtors

7

248,588

648,328

Cash at bank and in hand

 

667,770

426,841

 

916,358

1,075,169

Creditors: Amounts falling due within one year

8

(8,140)

(171,481)

Net current assets

 

908,218

903,688

Total assets less current liabilities

 

1,500,359

1,436,081

Provisions for liabilities

(23,885)

(9,053)

Net assets

 

1,476,474

1,427,028

Capital and reserves

 

Called up share capital

100,000

100,000

Share premium reserve

718,631

718,631

Retained earnings

657,843

608,397

Shareholders' funds

 

1,476,474

1,427,028

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Abbeywood Estates Limited

(Registration number: 04026660)
Balance Sheet as at 31 July 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mrs Patricia Fowler
Company secretary and director

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
46 Mead Road
Stoke Gifford
Bristol
BS34 8PS

These financial statements were authorised for issue by the Board on 15 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Motor vehicles

20% straight line

Computer equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 August 2023

22,190

29,539

51,729

At 31 July 2024

22,190

29,539

51,729

Depreciation

At 1 August 2023

16,273

27,385

43,658

Charge for the year

4,438

952

5,390

At 31 July 2024

20,711

28,337

49,048

Carrying amount

At 31 July 2024

1,479

1,202

2,681

At 31 July 2023

5,917

2,154

8,071

5

Investment properties

2024
£

At 1 August

407,000

At 31 July

407,000

There has been no valuation of investment property by an independent valuer.

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2023

117,322

117,322

Fair value adjustments

53,140

53,140

Additions

11,998

11,998

At 31 July 2024

182,460

182,460

Impairment

Carrying amount

At 31 July 2024

182,460

182,460

7

Debtors

Current

2024
£

2023
£

Other debtors

248,588

648,328

 

248,588

648,328

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

4,935

168,961

Accruals and deferred income

3,205

2,520

8,140

171,481

 

Abbeywood Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Related party transactions

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Loan

483,137

426,434

(823,029)

86,542

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Loan

473,819

257,097

(247,778)

483,137