Company Registration No. 03060035 (England and Wales)
Able Estates Limited
Unaudited accounts
for the year ended 28 February 2019
Able Estates Limited
Unaudited accounts
Contents
Able Estates Limited
Company Information
for the year ended 28 February 2019
Directors
L C Hillier
P S Jones
P D Mitchell
P Servis
Company Number
03060035 (England and Wales)
Registered Office
287 Bexley Road
Northumberland Heath
Erith
Kent
DA8 3EX
Accountants
Clayton Stirling & Co
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Able Estates Limited
Statement of financial position
as at
28 February 2019
Tangible assets
33,950
30,113
Cash at bank and in hand
619,706
750,715
Creditors: amounts falling due within one year
(374,245)
(804,816)
Net current assets
607,297
644,774
Net assets
641,249
674,889
Called up share capital
100
100
Profit and loss account
641,149
674,789
Shareholders' funds
641,249
674,889
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 August 2019.
P D Mitchell
Director
Company Registration No. 03060035
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2019
Able Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 03060035. The registered office is 287 Bexley Road, Northumberland Heath, Erith, Kent, DA8 3EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over duration of the lease
Plant & machinery
20% straight line basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
10% straight line basis
Computer equipment
33.33% straight line basis
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2018
18,345
39,945
28,900
31,980
18,051
137,221
Additions
-
-
5,550
-
-
5,550
Disposals
-
(23,630)
(28,900)
(17,687)
(14,568)
(84,785)
At 28 February 2019
18,345
16,315
5,550
14,293
3,483
57,986
At 1 March 2018
2,150
33,241
28,900
24,807
18,010
107,108
Charge for the year
3,239
2,143
578
1,429
638
8,027
On disposals
-
(27,215)
(28,900)
(19,131)
(15,853)
(91,099)
At 28 February 2019
5,389
8,169
578
7,105
2,795
24,036
At 28 February 2019
12,956
8,146
4,972
7,188
688
33,950
At 28 February 2018
16,195
6,704
-
7,173
41
30,113
5
Investments
Subsidiary undertakings
Valuation at 1 March 2018
2
Valuation at 28 February 2019
2
Trade debtors
21,720
32,688
Amounts due from group undertakings etc.
337,494
363,474
Accrued income and prepayments
2,622
2,635
7
Investments held as current assets
2019
2018
Unlisted investments
-
250,000
8
Creditors: amounts falling due within one year
2019
2018
Trade creditors
9,580
4,387
Taxes and social security
85,759
97,294
Other creditors
278,906
703,135
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2019
9
Operating lease commitments
2019
2018
At 28 February 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
13,500
13,500
Within two to five years
51,750
54,000
More than five years
-
11,250
10
Average number of employees
During the year the average number of employees was 16 (2018: 16).