Abbott Estate Management Limited
Unaudited Abbreviated Accounts
For the period ended 5 April 2016
Company Registration No. 09401974 (England and Wales)
Abbott Estate Management Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
Abbott Estate Management Limited
Abbreviated Balance Sheet
As at 5 April 2016
Page 1
2016
Notes
£
£
Fixed assets
Tangible assets
2
633,197
Investments
2
10
633,207
Current assets
Debtors
298,272
Cash at bank and in hand
344,978
643,250
Creditors: amounts falling due within one year
(26,502)
Net current assets
616,748
Total assets less current liabilities
1,249,955
Capital and reserves
Called up share capital
3
100
Other reserves
430,969
Profit and loss account
818,886
Shareholders' funds
1,249,955
For the financial period ended 5 April 2016 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.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 October 2016
D Abbott
Director
Company Registration No. 09401974
Abbott Estate Management Limited
Notes to the Abbreviated Accounts
For the period ended 5 April 2016
Page 2
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for rent and services .
rent
and services
.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are made up of investment properties which are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
1.5
Investments
Fixed asset investments are
recognised at fair value and reviewed for impairment on an annual basis
.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
Abbott Estate Management Limited
Notes to the Abbreviated Accounts (Continued)
For the period ended 5 April 2016
Page 3
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 22 January 2015
-
-
-
Additions
633,197
430,979
1,064,176
At 5 April 2016
633,197
430,979
1,064,176
Depreciation
At 22 January 2015
-
-
-
Charge for the period
-
430,969
430,969
At 5 April 2016
-
430,969
430,969
Net book value
At 5 April 2016
633,197
10
633,207
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Seddon Properties Limited
Guernsey
Ordinary shares
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Seddon Properties Limited
Dormant company
-
-
Seddon Properties Limited closed its UK establishment on 5 April 2015 and has remained dormant as of this date.
Abbott Estate Management Limited
Notes to the Abbreviated Accounts (Continued)
For the period ended 5 April 2016
Page 4
3
Share capital
2016
£
Allotted, called up and fully paid
80 Ordinary shares of £1 each
80
10 A Shares of £1 each
10
10 B Shares of £1 each
10
100
4
Control
The ultimate controlling party is L Abbott by virtue of her shareholding in the company.