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REGISTERED NUMBER: 01611910 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ABDEX HOSE & COUPLINGS LIMITED

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABDEX HOSE & COUPLINGS LIMITED

COMPANY INFORMATION
for the Year Ended 28 FEBRUARY 2023







DIRECTORS: Mr N S Dixon
Mr O J C Bain
Mr D C Bain





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Unit 10a Clarke Road
Bletchley
Milton Keynes
Buckinghamshire
MK1 1LG





REGISTERED NUMBER: 01611910 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 156,264 134,370

CURRENT ASSETS
Stocks 5 790,125 681,555
Debtors 6 766,486 581,081
Cash at bank and in hand 390,254 538,544
1,946,865 1,801,180
CREDITORS
Amounts falling due within one year 7 679,856 762,359
NET CURRENT ASSETS 1,267,009 1,038,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,423,273

1,173,191

CREDITORS
Amounts falling due after more than one
year

8

(488

)

(5,248

)

PROVISIONS FOR LIABILITIES 11 (39,066 ) (25,530 )
NET ASSETS 1,383,719 1,142,413

CAPITAL AND RESERVES
Called up share capital 1,112 1,112
Retained earnings 1,382,607 1,141,301
1,383,719 1,142,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

BALANCE SHEET - continued
28 FEBRUARY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:




Mr O J C Bain - Director



Mr D C Bain - Director


ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Abdex Hose & Couplings 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.

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.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on disposal of an asset is determined at the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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 Statement of Income and Retained Earnings, 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.


ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 FEBRUARY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 208,066 70,322 70,120 348,508
Additions 49,792 770 16,909 67,471
Disposals (34,532 ) (10,254 ) (19,775 ) (64,561 )
At 28 February 2023 223,326 60,838 67,254 351,418
DEPRECIATION
At 1 March 2022 136,042 41,082 37,014 214,138
Charge for year 26,252 5,986 12,225 44,463
Eliminated on disposal (34,532 ) (10,254 ) (18,661 ) (63,447 )
At 28 February 2023 127,762 36,814 30,578 195,154
NET BOOK VALUE
At 28 February 2023 95,564 24,024 36,676 156,264
At 28 February 2022 72,024 29,240 33,106 134,370

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 27,345
Additions 16,909
At 28 February 2023 44,254
DEPRECIATION
At 1 March 2022 12,604
Charge for year 7,913
At 28 February 2023 20,517
NET BOOK VALUE
At 28 February 2023 23,737
At 28 February 2022 14,741

5. STOCKS
2023 2022
£    £   
Stocks 790,125 681,555

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 746,599 566,944
Other debtors 19,887 14,137
766,486 581,081

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 11,108 5,725
Trade creditors 311,713 404,824
Corporation tax 69,893 101,564
Taxation and social security 20,156 15,971
VAT 43,296 13,443
Directors' loan accounts 7,483 -
Accrued expenses 216,207 220,832
679,856 762,359

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 488 5,248

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 FEBRUARY 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 11,108 5,725
Between one and five years 488 5,248
11,596 10,973

Non-cancellable operating leases
2023 2022
£    £   
Between one and five years 75,000 150,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,596 10,973

The amounts included in hire purchase are secured against the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 39,066 25,530

Deferred
tax
£   
Balance at 1 March 2022 25,530
Provided during year 13,536
Balance at 28 February 2023 39,066