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Registration number: 5092221

1st Abbey Alarms Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

1st Abbey Alarms Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

1st Abbey Alarms Limited

(Registration number: 5092221)
Balance Sheet as at 30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

547

667

Current assets

 

Debtors

5

-

603

Cash at bank and in hand

 

156

1,112

 

156

1,715

Creditors: Amounts falling due within one year

6

(22,430)

(13,840)

Net current liabilities

 

(22,274)

(12,125)

Total assets less current liabilities

 

(21,727)

(11,458)

Creditors: Amounts falling due after more than one year

6

(4,870)

(6,329)

Net liabilities

 

(26,597)

(17,787)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(26,697)

(17,887)

Shareholders' deficit

 

(26,597)

(17,787)

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 August 2022
 

.........................................
D G Holden
Director

 

1st Abbey Alarms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26 Kirkdale Road
Langho
Lancashire
BB6 8EW

These financial statements were authorised for issue by the director on 18 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

1st Abbey Alarms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Other property, plant and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

1st Abbey Alarms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2021

3,874

6,595

10,469

At 30 April 2022

3,874

6,595

10,469

Depreciation

At 1 May 2021

3,559

6,243

9,802

Charge for the year

32

88

120

At 30 April 2022

3,591

6,331

9,922

Carrying amount

At 30 April 2022

283

264

547

At 30 April 2021

315

352

667

 

1st Abbey Alarms Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

5

Debtors

2022
£

2021
£

Other debtors

-

603

-

603

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

1,551

1,420

Trade creditors

 

86

36

Taxation and social security

 

75

10

Accruals and deferred income

 

690

690

Other creditors

 

20,028

11,684

 

22,430

13,840

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

4,870

6,329

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

4,870

6,329

2022
£

2021
£

Current loans and borrowings

Bank borrowings

1,551

1,420