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REGISTERED NUMBER: 07093860 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ABACUS FLAME LIMITED

ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABACUS FLAME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: R Jarvis
N McNeill





REGISTERED OFFICE: 277-279 Seaside
Eastbourne
East Sussex
BN22 7NU





REGISTERED NUMBER: 07093860 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 127,195 98,181

CURRENT ASSETS
Stocks 60,000 64,000
Debtors 5 271,842 118,901
Cash at bank and in hand 40,329 102,948
372,171 285,849
CREDITORS
Amounts falling due within one year 6 (250,072 ) (268,020 )
NET CURRENT ASSETS 122,099 17,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,294

116,010

CREDITORS
Amounts falling due after more than one
year

7

(89,959

)

(40,593

)
NET ASSETS 159,335 75,417

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 159,135 75,217
SHAREHOLDERS' FUNDS 159,335 75,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:




R Jarvis - Director



N McNeill - Director


ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Abacus Flame 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 represents net invoiced sale of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates.

Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 5,000 25,536 239,509 1,534 271,579
Additions - - 75,851 6,333 82,184
Disposals - - (44,523 ) - (44,523 )
At 31 December 2021 5,000 25,536 270,837 7,867 309,240
DEPRECIATION
At 1 January 2021 4,789 16,657 150,418 1,534 173,398
Charge for year 53 2,220 34,350 1,737 38,360
Eliminated on disposal - - (29,713 ) - (29,713 )
At 31 December 2021 4,842 18,877 155,055 3,271 182,045
NET BOOK VALUE
At 31 December 2021 158 6,659 115,782 4,596 127,195
At 31 December 2020 211 8,879 89,091 - 98,181

ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 263,188 118,901
Other debtors 8,654 -
271,842 118,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 -
Hire purchase contracts 32,096 26,653
Trade creditors 136,363 120,220
Taxation and social security 40,901 51,211
Other creditors 30,712 69,936
250,072 268,020

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 34,163 -
Hire purchase contracts 55,796 40,593
89,959 40,593

8. CALLED UP SHARE CAPITAL

2015 2014
Number Class Nominal value £ £

50 Ordinary 'A' £1 50 50
50 Ordinary 'B' £1 50 50
50 Ordinary 'C' £1 50 50
50 Ordinary 'D' £1 50 50
200 200

ABACUS FLAME LIMITED (REGISTERED NUMBER: 07093860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

9. GOVERNMENT GRANTS

Grants received in this period consist of the following:

2021 2020
£ £

Job Retention Scheme - 49,181
Local Council Grants 10,407 10,000
SSP Grants 270 -
Bounce Back Loan Interest 417 833
11,094 60,014

The above grants have been brought in on an accruals basis and disclosed as other income.

Interest on the bounce back loan is for a 12 month period from the date the loan was received 01/05/2020. Interest has been charged on the bounce back loan of £50,000 at 2.5%.