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REGISTERED NUMBER: 06117590 (England and Wales)














CONCEPT ABS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


CONCEPT ABS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mr A Dunning
Mr M De Bergolis
Mrs W D Dunning
Mrs R De Bergolis





SECRETARY: Mr A Dunning





REGISTERED OFFICE: 10 Weald View
Staplecross
Robertsbridge
East Sussex
TN32 5QW





REGISTERED NUMBER: 06117590 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
Rye
East Sussex
TN31 7LJ

CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,536 2,892

CURRENT ASSETS
Debtors 5 91,242 56,506
Investments 6 33,023 29,136
Cash at bank 48,279 55,123
172,544 140,765
CREDITORS
Amounts falling due within one year 7 107,310 98,192
NET CURRENT ASSETS 65,234 42,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,770

45,465

PROVISIONS FOR LIABILITIES 2,238 1,336
NET ASSETS 66,532 44,129

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 6,499 3,350
Retained earnings 59,933 40,679
SHAREHOLDERS' FUNDS 66,532 44,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2022 and were signed on its behalf by:





Mr A Dunning - Director


CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Concept ABS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition
In accordance with the provisions of UITF40 "Revenue recognition and service contracts" where work straddles a year end it is treated as a long term contract and and income is accrued as the work progresses to reflect the partial completion of the work at the year end.

CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 3,642 11,391 15,033
Additions 1,896 200 2,096
At 31 March 2022 5,538 11,591 17,129
DEPRECIATION
At 1 April 2021 3,633 8,508 12,141
Charge for year 359 1,093 1,452
At 31 March 2022 3,992 9,601 13,593
NET BOOK VALUE
At 31 March 2022 1,546 1,990 3,536
At 31 March 2021 9 2,883 2,892

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 91,242 56,476
Other debtors - 30
91,242 56,506

6. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Current asset investment 33,023 29,136

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 87,950 78,742
Other creditors 19,360 19,450
107,310 98,192

CONCEPT ABS LIMITED (REGISTERED NUMBER: 06117590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


8. RESERVES
Revaluatio
reserve
£   
At 1 April 2021 3,350
Revaluation 3,149

At 31 March 2022 6,499