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Company registration number: 11893545

Abrams Ashton Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Abrams Ashton Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Abrams Ashton Ltd

Company Information

Directors

Mrs SS Fuller

Mr D Leigh

Mr D J Cowen

Registered office

7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Abrams Ashton Ltd

(Registration number: 11893545)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

30,597

26,405

Current assets

 

Debtors

5

425,787

511,211

Cash at bank and in hand

 

203,465

120,739

 

629,252

631,950

Creditors: Amounts falling due within one year

6

(172,049)

(211,085)

Net current assets

 

457,203

420,865

Total assets less current liabilities

 

487,800

447,270

Creditors: Amounts falling due after more than one year

6

(166,186)

(241,652)

Provisions for liabilities

(7,649)

(5,017)

Net assets

 

313,965

200,601

Capital and reserves

 

Called up share capital

10

10

Retained earnings

313,955

200,591

Shareholders' funds

 

313,965

200,601

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Abrams Ashton Ltd

(Registration number: 11893545)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 November 2023 and signed on its behalf by:
 

.........................................
Mrs SS Fuller
Director

.........................................
Mr D J Cowen
Director

 

Abrams Ashton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Waterside Court
St. Helens
Merseyside
WA9 1UA
United Kingdom

These financial statements were authorised for issue by the Board on 21 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents revenue earned under a variety of contracts to provide professional services and advice to third parties.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. this assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in other debtors.

Government grants

Government grants are accounted for using the accruals model under FRS 102. Government grants, in respect of the Coronavirus Job retention Scheme, are included in the period to which the grant relates.

 

Abrams Ashton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

Fixtures and fittings

15% reducing balance

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. the assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 17).

 

Abrams Ashton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

30,135

15,295

45,430

Additions

3,229

9,512

12,741

At 31 March 2023

33,364

24,807

58,171

Depreciation

At 1 April 2022

10,617

8,408

19,025

Charge for the year

3,412

5,137

8,549

At 31 March 2023

14,029

13,545

27,574

Carrying amount

At 31 March 2023

19,335

11,262

30,597

At 31 March 2022

19,518

6,887

26,405

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

221,862

296,099

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

10

10

Other debtors

 

203,915

215,102

 

425,787

511,211

 

Abrams Ashton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

5,555

5,555

Other creditors

 

166,494

205,530

 

172,049

211,085

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

35,186

40,652

Other non-current financial liabilities

 

131,000

201,000

 

166,186

241,652

2023
£

2022
£

Due after more than five years

After more than five years by instalments

12,964

18,519

-

-

Creditors include bank loans repayable by instalments of £12,964 (2022 - £18,519) due after more than five years.

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,684 (2022 - £16,197). This represents total commitments under non-cancellable operating leases.

8

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Loan

12,753

5,565

(16,752)

1,566

         
       

 

 

Abrams Ashton Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2022

At 1 April 2021
£

Advances to director
£

At 31 March 2022
£

Loan

7,188

5,565

12,753

       
     

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Abrams Ashton Holdings Limited, incorporated in England.