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REGISTERED NUMBER: 12545260 (England and Wales)















The Abbey Art Centre Limited

Unaudited Financial Statements For The Year Ended 30 April 2024






The Abbey Art Centre Limited (Registered number: 12545260)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Abbey Art Centre Limited

Company Information
For The Year Ended 30 April 2024







DIRECTOR: L O K Figgis





REGISTERED OFFICE: Mill House Cock Green
Felsted
Dunmow
Essex
CM6 3NA





REGISTERED NUMBER: 12545260 (England and Wales)





ACCOUNTANTS: Streets ISA Ltd
Building 15
Gateway 1000
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP

The Abbey Art Centre Limited (Registered number: 12545260)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 1 1
Investment property 5 4,495,207 3,474,611
4,495,208 3,474,612

CURRENT ASSETS
Debtors 6 146,296 1,337,288
Cash at bank 285,517 1,432
431,813 1,338,720
CREDITORS
Amounts falling due within one year 7 (14,180 ) (788,427 )
NET CURRENT ASSETS 417,633 550,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,912,841

4,024,905

CREDITORS
Amounts falling due after more than one
year

8

(1,076,798

)

(191,933

)
NET ASSETS 3,836,043 3,832,972

CAPITAL AND RESERVES
Called up share capital 993 1,000
Share premium 3,633,202 3,649,396
Retained earnings 201,848 182,576
3,836,043 3,832,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

The Abbey Art Centre Limited (Registered number: 12545260)

Balance Sheet - continued
30 April 2024


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 25 April 2025 and were signed by:





L O K Figgis - Director


The Abbey Art Centre Limited (Registered number: 12545260)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Abbey Art Centre 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 1
NET BOOK VALUE
At 30 April 2024 1
At 30 April 2023 1

The Abbey Art Centre Limited (Registered number: 12545260)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 3,474,611
Additions 357,517
Revaluations 663,079
At 30 April 2024 4,495,207
NET BOOK VALUE
At 30 April 2024 4,495,207
At 30 April 2023 3,474,611

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 247,860
Valuation in 2024 663,079
Cost 3,584,268
4,495,207

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,030 2,460
Amounts owed by group undertakings - 1,200,939
Other debtors 142,266 133,889
146,296 1,337,288

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 14,180 788,427

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 849,063 129,968
Taxation and social security 227,735 61,965
1,076,798 191,933

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 849,063 -

The Abbey Art Centre Limited (Registered number: 12545260)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years - 129,968

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 849,063 -

10. RELATED PARTY DISCLOSURES

At the year end, the company owed £Nil (2023: £10,563) from The Abbey Art Centre LLP and was owed £Nil (2023: £1,200,939) from Hadley Hall Properties Ltd. Both balances were written off during the year. These entities are under common control with the company through its shareholders

The company was owed £4,500 (2023: £90,878) from Hadley Hall Developments Limited, an entity under common control.

The company was owed £72,541 (2023: £6,274) by Bienchen Ohly, a shareholder

The company was owed £6,798 (2023: Owed to Louis £75,508) from Louis Figgis, the sole director and a shareholder.

The company was owed £11,298 (2023: Owed £54,739) from Arlen Figgis, a shareholder, and £11,298 (2023: Nil) from Romany Turney, a shareholder.