Company Registration No. 11755854 (England and Wales)
ABERLON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
ABERLON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ABERLON LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 1 -
2019
Notes
£
£
Current assets
Debtors
3
102,231
Creditors: amounts falling due within one year
4
(114,302)
Net current (liabilities)/assets
(12,071)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(12,171)
Total equity
(12,071)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 period 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 and signed by the director and authorised for issue on 17 December 2020
Salvatore Siconolfi
Director
Company Registration No. 11755854
ABERLON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Aberlon Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
82 Midship Point, London, United Kingdom, E14 8SP.
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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has prepared the financial statements on the going concern basis although the
true
balance sheet
shows negative shareholders funds. This is considered appropriate as the company's
shareholders and
creditors will continue to provide financial support to the company for the foreseeable future
and the
company is expecting to make profits in future years that will reverse this position. Should the
company be
unable to continue trading, adjustments would have to be made to reduce the value of assets to
their
recoverable amounts, to provide for any further liabilities which might arise.
1.3
Turnover
The company recognises revenue when , and to the extent that, the company obtains a right to
consideration in exchange for its performance of its obligations under the sales agreement with the
customer. The amount reported as revenue is the fair value of the right to consideration - i.e. the price as
set out in the customer agreement. Revenue is shown net of VAT and other sales related taxes.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets include debtors and cash and bank balances.
Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Cash at bank and in hand
Cash at bank and in hand include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
ABERLON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when
the company
transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities include creditors. Creditors are not interest bearing and are stated at
their nominal
value.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations
expire or are discharged or cancelled.
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 period was 0
.
3
Debtors
2019
Amounts falling due within one year:
£
Trade debtors
75,140
Other debtors
27,091
102,231
ABERLON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
£
Other creditors
114,302
114,302
5
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
During the period 100 ordinary shares of £1 each were allotted at par.