Registered number
06481293
ADVANCED BUILDING MANAGEMENT LIMITED
FINANCIAL STATEMENT FOR THE YEAR ENDED
31 MARCH 2023
DVL & CO ACCOUNTANTS
48 MELFORD ROAD
WALTHAMSTOW
LONDON E17 7EL
ADVANCED BUILDING MANAGEMENT LIMITED
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6 - 8
For directors informations only:
Detailed profit and loss accounts 9 - 11
Accountant report 12
ADVANCED BUILDING MANAGEMENT LIMITED
Company Information
Directors
Mr Declan M Kiernan
Secretary
Mrs L A Kiernan
Accountants
DVL & CO
48
Melford Road
London
United Kingdom
E17 7EL
Bankers
Metro Bank
One southampton Row
London WC1B 5HA
Registered office
48
Melford Road
London
E17 7EL
Registered number
06481293
ADVANCED BUILDING MANAGEMENT LIMITED
Registered number: 06481293
Directors' Report
The directors present their report and accounts for the year ended 31 March 2023.
Principal activities
The company's principal activity during the year was that of building management and maintenance services.
Directors
The following persons served as directors during the year:
Mr Declan M Kiernan
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 23 November 2023 and signed by its order.
Mr D M Kiernan
Director
Secretary
ADVANCED BUILDING MANAGEMENT LIMITED
Profit and Loss Account
for the year ended 31 March 2023
2023 2022
£ £
Turnover 2,296,437 2,196,163
Cost of sales (1,745,722) (1,776,221)
Gross profit 550,715 419,942
Administrative expenses (681,745) (488,916)
Molden council CD-19 Grant and HMRC JRS - 72,082
Operating (loss)/profit (131,030) 3,108
Interest receivable 7 -
Interest payable (12,412) (15,348)
Loss before taxation (143,435) (12,240)
Tax on loss 13,229 -
Loss for the financial year (130,206) (12,240)
Continuing operations
None of the company's activities were acquired or discontinued during the
above two financial years.
Total recognised gains and losses
The company made recognised gains or losses other the loss for the
above two financial years.
ADVANCED BUILDING MANAGEMENT LIMITED
Registered number: 06481293
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 91,839 76,619
Current assets
Stocks 76,120 32,477
Debtors 5 785,781 366,290
Cash at bank and in hand 52 5,361
861,953 404,128
Creditors: amounts falling due within one year 6 (899,559) (276,797)
Net current (liabilities)/assets (37,606) 127,331
Total assets less current liabilities 54,233 203,950
Creditors: amounts falling due after more than one year 7 (141,924) (161,446)
Net (liabilities)/assets (87,691) 42,504
Capital and reserves
Called up share capital 2 2
Profit and loss account (87,693) 42,502
Shareholders' funds (87,691) 42,504
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D M Kiernan
Director
Approved by the board on 23 November 2023
ADVANCED BUILDING MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery Written down value 15%
Fixtures, fittings, tools and equipment Written down value 15%
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 7,800
At 31 March 2023 7,800
Amortisation
At 1 April 2022 7,800
At 31 March 2023 7,800
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 62,205 193,694 255,899
Additions 650 43,190 43,840
At 31 March 2023 62,855 236,884 299,739
Depreciation
At 1 April 2022 47,911 131,369 179,280
Charge for the year 2,241 26,379 28,620
At 31 March 2023 50,152 157,748 207,900
Net book value
At 31 March 2023 12,703 79,136 91,839
At 31 March 2022 14,294 62,325 76,619
5 Debtors 2023 2022
£ £
Trade debtors 537,493 269,246
Inter company balance (See No 8) 186,642 97,044
Vat repayment 61,646 -
785,781 366,290
6 Creditors: amounts falling due within one year
Bank loans and overdrafts 53,580 -
Trade creditors 356,365 154,890
Taxation and social security costs 65,205 -
Other creditors 424,409 121,907
899,559 276,797
7 Creditors: amounts falling due after one year
Funding cricle Ltd and bounce back loan 141,924 161,446
The bank loans are secured over the company asset owned by the company.
8 Related party transations
At the end, Garner Advanced Limited owed £186,642 (2022-£97,044) to the company,which is
included in 5 above Mr D M Kerinan has a controlling interest in this company.
9 Other information
ADVANCED BUILDING MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
48
Melford Road
London
E17 7EL
ADVANCED BUILDING MANAGEMENT LIMITED 06481293 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Mr D M Kiernan 06481293 2021-04-01 2022-03-31 06481293 core:WithinOneYear 2022-03-31 06481293 core:AfterOneYear 2022-03-31 06481293 core:ShareCapital 2022-03-31 06481293 core:RetainedEarningsAccumulatedLosses 2022-03-31 06481293 2022-04-01 2023-03-31 06481293 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06481293 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06481293 bus:Director1 2022-04-01 2023-03-31 06481293 bus:CompanySecretary1 2022-04-01 2023-03-31 06481293 bus:Director40 2022-04-01 2023-03-31 06481293 1 2022-04-01 2023-03-31 06481293 2 2022-04-01 2023-03-31 06481293 core:PlantMachinery 2022-04-01 2023-03-31 06481293 core:Vehicles 2022-04-01 2023-03-31 06481293 countries:England 2022-04-01 2023-03-31 06481293 bus:FRS102 2022-04-01 2023-03-31 06481293 bus:FullAccounts 2022-04-01 2023-03-31 06481293 2023-03-31 06481293 core:WithinOneYear 2023-03-31 06481293 core:AfterOneYear 2023-03-31 06481293 core:ShareCapital 2023-03-31 06481293 core:RetainedEarningsAccumulatedLosses 2023-03-31 06481293 core:Goodwill 2023-03-31 06481293 core:PlantMachinery 2023-03-31 06481293 core:Vehicles 2023-03-31 06481293 2022-03-31 06481293 core:Goodwill 2022-03-31 06481293 core:PlantMachinery 2022-03-31 06481293 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure