Company registration number 08259539 (England and Wales)
A B Developments (Yorkshire) Limited
Unaudited
financial statements
for the year ended 31 October 2022
PAGES FOR FILING WITH REGISTRAR
A B Developments (Yorkshire) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
A B Developments (Yorkshire) Limited
Statement of financial position
as at 31 October 2022
31 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
636,401
582,741
Current assets
Stocks
20,000
20,000
Debtors
997,106
660,308
Cash at bank and in hand
25,592
1,710
1,042,698
682,018
Creditors: amounts falling due within one year
(2,394,389)
(1,915,951)
Net current liabilities
(1,351,691)
(1,233,933)
Total assets less current liabilities
(715,290)
(651,192)
Creditors: amounts falling due after more than one year
(219,342)
(145,059)
Net liabilities
(934,632)
(796,251)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(934,634)
(796,253)
Total equity
(934,632)
(796,251)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
A B Developments (Yorkshire) Limited
Statement of financial position (continued)
as at 31 October 2022
31 October 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 October 2023
S Bruce
Director
Company Registration No. 08259539
A B Developments (Yorkshire) Limited
Notes to the financial statements
for the year ended 31 October 2022
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
15% reducing balance
Plant and equipment
25% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
A B Developments (Yorkshire) Limited
Notes to the financial statements (continued)
for the year ended 31 October 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
25
25
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 November 2021
100,249
770,559
964
871,772
Additions
250,325
250,325
Disposals
(10,250)
(10,250)
At 31 October 2022
100,249
1,010,634
964
1,111,847
Depreciation and impairment
At 1 November 2021
24,206
264,037
788
289,031
Depreciation charged in the year
11,406
178,008
44
189,458
Eliminated in respect of disposals
(3,043)
(3,043)
At 31 October 2022
35,612
439,002
832
475,446
Carrying amount
At 31 October 2022
64,637
571,632
132
636,401
At 31 October 2021
76,043
506,522
176
582,741
4
Company information
A B Developments (Yorkshire) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Boys Yard Shawfield Road, Carlton Industrial Estate, Barnsley, South Yorkshire, England, S71 3HS.