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COMPANY REGISTRATION NUMBER: 06800414
Abbey Prestige Homes Ltd
Filleted Unaudited Financial Statements
31 January 2023
Abbey Prestige Homes Ltd
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
3,871
Current assets
Stocks
210,000
210,000
Debtors
5
184,448
272,376
Cash at bank and in hand
1,113
274
---------
---------
395,561
482,650
Creditors: amounts falling due within one year
6
177,524
263,776
---------
---------
Net current assets
218,037
218,874
---------
---------
Total assets less current liabilities
218,037
222,745
Creditors: amounts falling due after more than one year
7
207,046
211,296
Provisions
Taxation including deferred tax
747
---------
---------
Net assets
10,991
10,702
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
10,891
10,602
--------
--------
Shareholders funds
10,991
10,702
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Abbey Prestige Homes Ltd
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Mr P Woodman
Director
Company registration number: 06800414
Abbey Prestige Homes Ltd
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260/268 Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 February 2022
12,566
3,100
15,666
Disposals
( 12,566)
( 3,100)
( 15,666)
--------
-------
--------
At 31 January 2023
--------
-------
--------
Depreciation
At 1 February 2022
9,559
2,236
11,795
Disposals
( 9,559)
( 2,236)
( 11,795)
--------
-------
--------
At 31 January 2023
--------
-------
--------
Carrying amount
At 31 January 2023
--------
-------
--------
At 31 January 2022
3,007
864
3,871
--------
-------
--------
5. Debtors
2023
2022
£
£
Trade debtors
184,448
272,376
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
35,336
38,256
Trade creditors
3,794
Other creditors
142,188
221,726
---------
---------
177,524
263,776
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
207,046
211,296
---------
---------
8. Related party transactions
At the year end the company owed £92,471 to Abbey Prestige Homes (Helsby) Ltd, £6,496 to Abbey Prestige Homes (NW) Ltd and was owed £184,447 from Abbey Prestige Lettings Ltd. The companies are related by common ownership and control. At the 31 January 2023 the company owed to its directors £40,792 (2022-£58,254).