Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-02-01falseNo description of principal activity47trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09946442 2022-02-01 2023-02-28 09946442 2021-02-01 2022-01-31 09946442 2023-02-28 09946442 2022-01-31 09946442 c:Director1 2022-02-01 2023-02-28 09946442 d:PlantMachinery 2022-02-01 2023-02-28 09946442 d:PlantMachinery 2023-02-28 09946442 d:PlantMachinery 2022-01-31 09946442 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-02-28 09946442 d:FreeholdInvestmentProperty 2022-02-01 2023-02-28 09946442 d:FreeholdInvestmentProperty 2023-02-28 09946442 d:FreeholdInvestmentProperty 2022-01-31 09946442 d:CurrentFinancialInstruments 2023-02-28 09946442 d:CurrentFinancialInstruments 2022-01-31 09946442 d:Non-currentFinancialInstruments 2023-02-28 09946442 d:Non-currentFinancialInstruments 2022-01-31 09946442 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09946442 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09946442 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09946442 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 09946442 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 09946442 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 09946442 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 09946442 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 09946442 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 09946442 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-01-31 09946442 d:ShareCapital 2023-02-28 09946442 d:ShareCapital 2022-01-31 09946442 d:RetainedEarningsAccumulatedLosses 2023-02-28 09946442 d:RetainedEarningsAccumulatedLosses 2022-01-31 09946442 c:OrdinaryShareClass1 2022-02-01 2023-02-28 09946442 c:OrdinaryShareClass1 2023-02-28 09946442 c:OrdinaryShareClass1 2022-01-31 09946442 c:FRS102 2022-02-01 2023-02-28 09946442 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-02-28 09946442 c:FullAccounts 2022-02-01 2023-02-28 09946442 c:PrivateLimitedCompanyLtd 2022-02-01 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09946442









ABELINE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
ABELINE LIMITED
REGISTERED NUMBER: 09946442

BALANCE SHEET
AS AT 28 FEBRUARY 2023

28 February
31 January
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,189
5,569

Investment property
 5 
277,347
168,398

  
281,536
173,967

Current assets
  

Stocks
  
-
5,000

Debtors: amounts falling due within one year
 6 
3,557
-

Cash at bank and in hand
 7 
97,385
189,345

  
100,942
194,345

Creditors: amounts falling due within one year
 8 
(75,863)
(78,686)

Net current assets
  
 
 
25,079
 
 
115,659

Total assets less current liabilities
  
306,615
289,626

Creditors: amounts falling due after more than one year
 9 
(88,992)
(112,185)

  

Net assets
  
217,623
177,441


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
217,523
177,341

  
217,623
177,441


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
ABELINE LIMITED
REGISTERED NUMBER: 09946442
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Ayhan Bozdag
Director

Date: 21 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

ABELINE LIMITED is a private company limited by share capital, Incorporated in England and Wales, registration number 09946442. The address of the registered office is 291 Green Lanes, Palmers Green, London, N13 4XS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
The sale of food and beverages are recognised at the point of sale.
Rental income
Rental with relaiton to income from properties is recorded over the period in which the rent relates to. 

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

Page 3

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of
Page 4

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Period was 4 (2022 - 7).

Page 6

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets







Plant and machinery

£



Cost or valuation


At 1 February 2022
11,215



At 28 February 2023

11,215



Depreciation


At 1 February 2022
5,646


Charge for the Period on owned assets
1,380



At 28 February 2023

7,026



Net book value



At 28 February 2023
4,189



At 31 January 2022
5,569


5.


Investment property





Freehold investment property

£



Valuation


At 1 February 2022
168,398


Additions at cost
108,949



At 28 February 2023
277,347

The 2023 valuations were made by The Director , on an open market value for existing use basis.





6.


Debtors

28 February
31 January
2023
2022
Page 7

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

6.Debtors (continued)

£
£


Other debtors
1,157
-

Prepayments and accrued income
2,400
-

3,557
-



7.


Cash and cash equivalents

28 February
31 January
2023
2022
£
£

Cash at bank and in hand
97,385
189,345

97,385
189,345



8.


Creditors: Amounts falling due within one year

28 February
31 January
2023
2022
£
£

Bank loans
19,831
20,035

Trade creditors
2,176
3,980

Corporation tax
9,816
27,553

Other taxation and social security
-
12,177

Other creditors
44,040
10,641

Accruals and deferred income
-
4,300

75,863
78,686



9.


Creditors: Amounts falling due after more than one year

28 February
31 January
2023
2022
£
£

Bank loans
88,992
112,185

88,992
112,185


Page 8

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


28 February
31 January
2023
2022
£
£

Amounts falling due within one year

Bank loans
19,831
20,035


19,831
20,035

Amounts falling due 1-2 years

Bank loans
20,881
19,831

Amounts falling due 2-5 years

Bank loans
49,053
58,923

Amounts falling due after more than 5 years

Bank loans
19,057
33,432

108,822
132,221


Bank loans totaling £76,323 at the year end are secured by way of charge over the company’s investment property.


11.


Share capital

28 February
31 January
2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The company operated a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £233 (2022 - £902) Contributions totalling £Nil (2022 - £422) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
ABELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

13.


Related party transactions

included within Other Creditors due within less than 1 year is a loan amount of £19,000 due to a company under common control. The loan is unsecured, free of interest and repayable on demand. 

 
Page 10