REGISTERED NUMBER:
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ABBEY SUPPLIES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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REGISTERED NUMBER:
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ABBEY SUPPLIES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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ABBEY SUPPLIES LIMITED (REGISTERED NUMBER: SC338522) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ABBEY SUPPLIES LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31 January 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ABBEY SUPPLIES LIMITED (REGISTERED NUMBER: SC338522) |
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BALANCE SHEET |
31 January 2021 |
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31.1.21 | 31.1.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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 Board of Directors and authorised for issue on
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ABBEY SUPPLIES LIMITED (REGISTERED NUMBER: SC338522) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2021 |
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1. | STATUTORY INFORMATION |
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Abbey Supplies Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents sales of goods and services provided in the year, excluding 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 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 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 balance sheet date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method. The capital element of future payments is treated as a liability. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ABBEY SUPPLIES LIMITED (REGISTERED NUMBER: SC338522) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2020 |
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Disposals | ( |
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At 31 January 2021 |
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DEPRECIATION |
At 1 February 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 31 January 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Trade creditors |
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Director's loan account | 5,023 | 4,373 |
Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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At 31 January 2021 one of the company's directors had provided the company with an interest free loan of £5,023 (2020, £4,373). There are no fixed repayment terms for this loan. |