REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 5 April 2023 |
for |
ABSTRACKED SOLUTIONS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 5 April 2023 |
for |
ABSTRACKED SOLUTIONS LIMITED |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Contents of the Financial Statements |
for the Year Ended 5 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ABSTRACKED SOLUTIONS LIMITED |
Company Information |
for the Year Ended 5 April 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
11 Slayleigh Avenue |
Sheffield |
South Yorkshire |
S10 3RA |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Balance Sheet |
5 April 2023 |
5.4.23 | 5.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Balance Sheet - continued |
5 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Notes to the Financial Statements |
for the Year Ended 5 April 2023 |
1. | STATUTORY INFORMATION |
Abstracked Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover represents the net invoiced value of health and safety support, training, and technical authoring services, excluding value added tax. Turnover is recognised in accordance with the contract terms and by reference to the valuation of time spent. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Work in progress |
Income on work in progress contracts is recognised by reference to the valuation of the time spent on each contract, at the year end. |
Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to reflect fairly the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs. |
Debtors and creditors due within one year |
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses. |
Impairment |
At each balance sheet date, assets not measured at fair value are reviewed for any indication that the asset may be impaired at the balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, where the impairment loss is recognised as a revaluation reduction. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 6 April 2022 |
and 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
5. | DEBTORS |
5.4.23 | 5.4.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Directors' current accounts |
Amounts falling due after more than one year: |
Corporation tax |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT |
Accrued expenses |
7. | PROVISIONS FOR LIABILITIES |
5.4.23 | 5.4.22 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 6 April 2022 |
Accelerated capital allowances | ( |
) |
Balance at 5 April 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 5.4.23 | 5.4.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
ABSTRACKED SOLUTIONS LIMITED (REGISTERED NUMBER: 06256335) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Throughout the year the director's current account was overdrawn. At 5 April 2022 the overdrawn balance on the director's current account was £265,023, which was also the maximum amount owing to the company in the year. At 5 April 2023 the overdrawn balance on the director's current account had reduced to £249,071. No interest has been charged by the company on the director's overdrawn current account in the year. After the year end, the overdrawn balance has remained outstanding. |