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REGISTERED NUMBER:
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Abbey Fire Centre Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 September 2017 |
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REGISTERED NUMBER:
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Abbey Fire Centre Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 September 2017 |
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Abbey Fire Centre Limited (Registered number: 01667861) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Abbey Fire Centre Limited |
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Company Information |
for the Year Ended 30 September 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Sterling House |
97 Lichfield Street |
Tamworth |
Staffordshire |
B79 7QF |
Abbey Fire Centre Limited (Registered number: 01667861) |
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Statement of Financial Position |
30 September 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Abbey Fire Centre Limited (Registered number: 01667861) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
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1. | STATUTORY INFORMATION |
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Abbey Fire Centre Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
date of transition to FRS 102 Section 1A is 1 October 2015. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgement, |
estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from |
other sources. The estimates and associated assumptions are based on historical experience and other factors |
that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised where the revision affects only that |
period, or the period of revision and future periods where the revision affects both current and future periods. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates |
and value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Abbey Fire Centre Limited (Registered number: 01667861) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2016 |
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Additions |
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Disposals |
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At 30 September 2017 |
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DEPRECIATION |
At 1 October 2016 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2017 |
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NET BOOK VALUE |
At 30 September 2017 |
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At 30 September 2016 |
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6. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Abbey Fire Centre Limited (Registered number: 01667861) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 11,122 | - |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 3 | 3 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1 October 2016 |
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Profit for the year |
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Dividends | ( |
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At 30 September 2017 |
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13. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £1,200 were paid to the director . |
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Other creditors includes an amount of £Nil (2016 - £108) due to K G Neville a director of the company. The |
loan has no fixed payment terms and is interest free. |
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No other transactions with related parties were undertaken such as are required to be disclosed under the |
Financial Reporting Standard for Smaller Entities. |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is K G Neville. |
Abbey Fire Centre Limited (Registered number: 01667861) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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15. | FIRST YEAR ADOPTION |
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The company has adopted the provisions set out in FRS102 (Section 1A) for small companies. This is the first |
year that the company has prepared financial statements under the new regulatory framework. It is not |
considered that there are any transitional adjustments required to either the prior year figures nor those at the |
transitional date. As such, no reconciliation is provided in these financial statements. |