Company Registration No. 09213614 (England and Wales)
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
COMPANY INFORMATION
Director
D R Baines
Company number
09213614
Registered office
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
Accountants
S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
834
Current assets
Stocks
1,350,000
1,974,948
Debtors
4
28,725
5,474
Cash at bank and in hand
1,101
228
1,379,826
1,980,650
Creditors: amounts falling due within one year
5
(2,354,963)
(2,065,228)
Net current liabilities
(975,137)
(84,578)
Total assets less current liabilities
(975,137)
(83,744)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(975,237)
(83,844)
Total equity
(975,137)
(83,744)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 January 2022 and are signed on its behalf by:
D R Baines
Director
Company Registration No. 09213614
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information

Abernile Manor Park Limited (Previously Abernile Market Cross Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company will continue to be supported by companies under common control and directorship to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2019
2018
Number
Number
Total
1
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2018 and 30 September 2019
6,309
Depreciation and impairment
At 1 October 2018
5,475
Depreciation charged in the year
834
At 30 September 2019
6,309
Carrying amount
At 30 September 2019
-
0
At 30 September 2018
834
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
28,725
5,474
ABERNILE MANOR PARK LIMITED (PREVIOUSLY ABERNILE MARKET CROSS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,735
3,731
Other creditors
2,351,228
2,061,497
2,354,963
2,065,228

Included in other creditors is a loan amounting to £1,155,200 (2018 - £1,540,000) secured by fixed and floating charges over the assets of the company and a personal guarantee granted by the director.

6
Events after the reporting date

Since the balance sheet date, the company has been notified by its lender that it is in default on the terms of its loan and the amount due is payable on demand. The director is negotiating with the lender to facilitate the settlement of this liability.

7
Directors' transactions

At the balance sheet date the company owed the director £452,400 (2018 - £97,426 ) in respect of interest-free loans, repayable on demand.

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