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REGISTERED NUMBER: 11914104 (England and Wales)












Approved Business Finance Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






Approved Business Finance Ltd (Registered number: 11914104)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Approved Business Finance Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R D Dunn
G E D Dunn
T M Sudds





REGISTERED OFFICE: 4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL





REGISTERED NUMBER: 11914104 (England and Wales)





ACCOUNTANTS: Kilby Fox
Chartered Accountants
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

Approved Business Finance Ltd (Registered number: 11914104)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145,489 190,771
Investments 5 100 -
145,589 190,771

CURRENT ASSETS
Debtors 6 410,254 235,582
Cash at bank 1,036,105 1,128,565
1,446,359 1,364,147
CREDITORS
Amounts falling due within one year 7 727,631 907,908
NET CURRENT ASSETS 718,728 456,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,317

647,010

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 864,207 646,900
864,317 647,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Approved Business Finance Ltd (Registered number: 11914104)

Balance Sheet - continued
31 July 2023


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 16 October 2023 and were signed on its behalf by:




R D Dunn - Director G E D Dunn - Director




T M Sudds - Director


Approved Business Finance Ltd (Registered number: 11914104)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Approved Business Finance Ltd 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.
Plant & machinery etc - 33.3% on cost and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

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 31 (2022 - 34 ) .

Approved Business Finance Ltd (Registered number: 11914104)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant &
machinery
etc
£   
COST
At 1 August 2022 252,704
Additions 6,750
At 31 July 2023 259,454
DEPRECIATION
At 1 August 2022 61,933
Charge for year 52,032
At 31 July 2023 113,965
NET BOOK VALUE
At 31 July 2023 145,489
At 31 July 2022 190,771

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 July 2023 100
NET BOOK VALUE
At 31 July 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,994 211,876
Amounts owed by group undertakings 123,634 -
Other debtors 31,626 23,706
410,254 235,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 153 -
Hire purchase contracts 152,512 179,831
Trade creditors 62,380 34,676
Amounts owed to group undertakings - 154,517
Taxation and social security 489,944 510,817
Other creditors 22,642 28,067
727,631 907,908

Approved Business Finance Ltd (Registered number: 11914104)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 50,000 50,000