Company Registration No. 10477015 (England and Wales)
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investment property
3
353,965
353,965
Current assets
Cash at bank and in hand
11,864
11,940
Creditors: amounts falling due within one year
4
(29,446)
(25,491)
Net current liabilities
(17,582)
(13,551)
Total assets less current liabilities
336,383
340,414
Creditors: amounts falling due after more than one year
5
(307,916)
(326,249)
Net assets
28,467
14,165
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
28,367
14,065
Total equity
28,467
14,165
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 May 2020 and are signed on its behalf by:
Mr S M Anderson
Director
Company Registration No. 10477015
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 2 -
1
Accounting policies
Company information
ABCO Anderson Beverage Co Property Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Equinox House, Clifton Park Avenue, Shipton Road, York, YO30 5PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rent and recharged costs receivable from an investment property.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in the profit or loss account.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.5
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 3 -
3
Investment property
2019
£
Fair value
At 1 December 2018 and 30 November 2019
353,965
The investment property is recognised at cost which includes the purchase cost and directly attributable expenditure.
4
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loan
19,413
19,413
Other taxation and social security
8,105
4,750
Other creditors
1,928
1,328
29,446
25,491
The bank loan falling due within one year is secured by a fixed and floating charge over the property and undertaking of the company.
5
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loan
213,360
232,111
Other creditor
94,556
94,138
307,916
326,249
The bank loan is secured by a fixed and floating charge over the property and undertaking of the company.
The other creditor falling due after more than one year is a loan from ABCO Anderson Beverage Co Limited. The loan is interest free.
Included in creditors which fall due after more than one year are creditors which fall due after five years from the balance sheet date as follows:
2019
2018
£
£
Bank loan
137,760
156,510
ABCO ANDERSON BEVERAGE CO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 4 -
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
7
Contingent liabilities
There were no contingent liabilities at 30 November 2019 (2018 - £nil).