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REGISTERED NUMBER: 10643596 (England and Wales)





















ABLE ASSIST LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


ABLE ASSIST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J P Robinson
D P Mason





REGISTERED OFFICE: Able House
Unit 1
50 Bradfield Road
Wellingborough
Northamptonshire
NN8 4HB





REGISTERED NUMBER: 10643596 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 268,439 255,751

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 5 141,180 83,668
Cash at bank and in hand 181,109 50,013
326,289 137,681
CREDITORS
Amounts falling due within one year 6 175,802 238,344
NET CURRENT ASSETS/(LIABILITIES) 150,487 (100,663 )
TOTAL ASSETS LESS CURRENT LIABILITIES 418,926 155,088

CREDITORS
Amounts falling due after more than one year 7 96,609 98,813
NET ASSETS 322,317 56,275

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 322,217 56,175
SHAREHOLDERS' FUNDS 322,317 56,275

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 ASSIST LIMITED (REGISTERED NUMBER: 10643596)

BALANCE SHEET - continued
31 MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2023 and were signed on its behalf by:





D P Mason - Director


ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Able Assist 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 21,135 12,413 11,817 323,651 369,016
Additions 8,950 - 2,124 62,545 73,619
Disposals - - - (19,999 ) (19,999 )
At 31 March 2023 30,085 12,413 13,941 366,197 422,636
DEPRECIATION
At 1 April 2022 2,644 4,269 3,882 102,470 113,265
Charge for year 4,377 2,036 2,270 34,106 42,789
Eliminated on disposal - - - (1,857 ) (1,857 )
At 31 March 2023 7,021 6,305 6,152 134,719 154,197
NET BOOK VALUE
At 31 March 2023 23,064 6,108 7,789 231,478 268,439
At 31 March 2022 18,491 8,144 7,935 221,181 255,751

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 240,138
Additions 31,945
Disposals (19,999 )
At 31 March 2023 252,084
DEPRECIATION
At 1 April 2022 58,562
Charge for year 25,958
Eliminated on disposal (1,857 )
At 31 March 2023 82,663
NET BOOK VALUE
At 31 March 2023 169,421
At 31 March 2022 181,576

ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 75,796 40,822
Other debtors 7,679 2,500
Tax - 4,046
Prepayments 57,705 36,300
141,180 83,668

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 11,234
Hire purchase contracts (see note 8) 32,591 49,663
Trade creditors 34,018 100,478
Credit card 3,675 6,185
Corporation tax 5,210 -
Social security and other taxes 10,344 18,096
VAT 65,474 32,395
Pension control account 2,505 2,321
Directors' current accounts 9,435 5,377
Accruals and deferred income 2,550 12,595
175,802 238,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 21,667 31,667
Hire purchase contracts (see note 8) 74,942 67,146
96,609 98,813

ABLE ASSIST LIMITED (REGISTERED NUMBER: 10643596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 32,591 49,663
Between one and five years 74,942 67,146
107,533 116,809

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 71,060

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 100 100 100