Company Registration No. 05610501 (England and Wales)
Abel Letting & Property Management Ltd
Unaudited accounts
for the year ended 31 March 2021
Abel Letting & Property Management Ltd
Unaudited accounts
Contents
Abel Letting & Property Management Ltd
Company Information
for the year ended 31 March 2021
Directors
Mr Joseph McVay
Mr Michael Mayday
Company Number
05610501 (England and Wales)
Registered Office
21 St Catherines Road
Hayling Island
Hampshire
PO11 0HF
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Abel Letting & Property Management Ltd
Statement of financial position
as at
31 March 2021
Tangible assets
245,884
245,653
Cash at bank and in hand
44,021
9,879
Creditors: amounts falling due within one year
(92,005)
(78,369)
Net current liabilities
(26,774)
(47,280)
Total assets less current liabilities
219,110
198,373
Creditors: amounts falling due after more than one year
(117,347)
(112,997)
Net assets
101,763
85,376
Called up share capital
100
100
Revaluation reserve
60,000
60,000
Profit and loss account
41,663
25,276
Shareholders' funds
101,763
85,376
For the year ending 31 March 2021 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.
The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2021 and were signed on its behalf by
Mr Michael Mayday
Director
Company Registration No. 05610501
Abel Letting & Property Management Ltd
Notes to the Accounts
for the year ended 31 March 2021
Abel Letting & Property Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 05610501. The registered office is 21 St Catherines Road, Hayling Island, Hampshire, PO11 0HF.
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.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2020
245,000
3,035
26,095
-
274,130
At 31 March 2021
245,000
3,035
26,095
456
274,586
At 1 April 2020
-
2,961
25,516
-
28,477
Charge for the year
-
18
145
62
225
At 31 March 2021
-
2,979
25,661
62
28,702
At 31 March 2021
245,000
56
434
394
245,884
At 31 March 2020
245,000
74
579
-
245,653
Finished goods
4,500
4,500
Abel Letting & Property Management Ltd
Notes to the Accounts
for the year ended 31 March 2021
6
Debtors: amounts falling due within one year
2021
2020
Amounts due from group undertakings etc.
12,885
12,885
Other debtors
3,825
3,825
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
11,801
10,539
Taxes and social security
3,674
-
Loans from directors
70,411
58,360
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
117,347
112,997
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan
(58,360)
(20,312)
(8,260)
(70,412)
(58,360)
(20,312)
(8,260)
(70,412)
10
Average number of employees
During the year the average number of employees was 2 (2020: 2).