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REGISTERED NUMBER: 02964896 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ABLE WATERPROOFING LIMITED

ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABLE WATERPROOFING LIMITED

COMPANY INFORMATION
for the year ended 28 FEBRUARY 2023







DIRECTORS: J H Foster
S J Foster
J Cheney





SECRETARY: J Foster





REGISTERED OFFICE: 3a Mitcham Road
Croydon
Surrey
CR03RU





REGISTERED NUMBER: 02964896 (England and Wales)





ACCOUNTANTS: C B Heslop & Company Limited
Chartered Accountants
1 High Street
Thatcham
Berks
RG19 3JG

ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,629 36,977

CURRENT ASSETS
Stocks 121,300 127,250
Debtors 5 682,243 775,839
Cash at bank and in hand 48,013 396
851,556 903,485
CREDITORS
Amounts falling due within one year 6 735,002 751,512
NET CURRENT ASSETS 116,554 151,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,183

188,950

CREDITORS
Amounts falling due after more than one
year

7

104,794

111,893
NET ASSETS 39,389 77,057

CAPITAL AND RESERVES
Called up share capital 8 12,600 12,600
Retained earnings 9 26,789 64,457
SHAREHOLDERS' FUNDS 39,389 77,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)

BALANCE SHEET - continued
28 FEBRUARY 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 23 October 2023 and were signed on its behalf by:




J H Foster - Director



S J Foster - Director


ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Able Waterproofing 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 - 25% on reducing balance
Motor vehicles - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 4,878 25,283 95,750 125,911
DEPRECIATION
At 1 March 2022 4,878 24,866 59,190 88,934
Charge for year - 208 9,140 9,348
At 28 February 2023 4,878 25,074 68,330 98,282
NET BOOK VALUE
At 28 February 2023 - 209 27,420 27,629
At 28 February 2022 - 417 36,560 36,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 88,417 128,898
Amounts owed by group undertakings 507,447 507,447
Other debtors 86,379 139,494
682,243 775,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 16,667 73,502
Hire purchase contracts 22,871 25,788
Trade creditors 653,191 583,054
Taxation and social security 37,523 64,418
Other creditors 4,750 4,750
735,002 751,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 80,000 83,333
Hire purchase contracts 24,794 28,560
104,794 111,893

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,333

ABLE WATERPROOFING LIMITED (REGISTERED NUMBER: 02964896)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
12,500 Ordinary 1 12,500 12,500
100 "C" Ordinary Shares 1 100 100
12,600 12,600

9. RESERVES
Retained
earnings
£   

At 1 March 2022 64,457
Profit for the year 71,377
Dividends (109,045 )
At 28 February 2023 26,789

10. CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date.

11. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £507,447 (2022 - £507,447) was due from Fosprop Limited the holding company.

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Fosprop Limited, company number 08073551, registered in England & Wales.