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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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28 SEPTEMBER 2016 TO 30 SEPTEMBER 2017 |
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FOR |
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ABBEY WOOD PROPERTY LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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28 SEPTEMBER 2016 TO 30 SEPTEMBER 2017 |
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FOR |
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ABBEY WOOD PROPERTY LTD |
ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 SEPTEMBER 2016 TO 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 WOOD PROPERTY LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 28 SEPTEMBER 2016 TO 30 SEPTEMBER 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274) |
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STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2017 |
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Notes | £ |
CURRENT ASSETS |
Inventories |
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Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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 Board of Directors on
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ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 SEPTEMBER 2016 TO 30 SEPTEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Abbey Wood Property Ltd 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have reasonable expectation that the company has adequate resources to continue in operational |
existence for the foreseeable future and to continue to adopt the going concern basis of accounting in preparing |
the financial statements. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates |
and assumptions about the carrying amount 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 in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
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Inventories |
Inventories are valued at lower of cost and net realisable value. The cost of work in progress and finished |
projects includes all development costs and the attributable proportion of indirect overheads based on normal |
level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal. |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable from the sales of property. |
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Taxation |
Taxation for the period 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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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 period 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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Financial instruments |
Basic financial assets,which include debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and are subsequently carried at amortised cost using the effective interest |
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at a market rate of interest. Financial assets classified as |
receivable within one year are not amortised. |
ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 SEPTEMBER 2016 TO 30 SEPTEMBER 2017 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
VAT |
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Prepayments and accrued income |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Other loans |
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Trade creditors |
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Directors' current accounts | 2,175,014 |
Deferred income |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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Other loans |
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Other loans are secured by way of fixed and floating charges over all the property and contains negative pledge. |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | 1 | 100 |
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7. | RESERVES |
Retained |
earnings |
£ |
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Deficit for the period | ( |
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At 30 September 2017 | ( |
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8. | RELATED PARTY DISCLOSURES |
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Included in creditors, amounts falling due within one year is an amount of £2,175,014 owed to the directors of |
the company. The loan is interest free and repayable on demand. |