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REGISTERED NUMBER: 08954119 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Ab Solutions Electrical Limited

Ab Solutions Electrical Limited (Registered number: 08954119)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ab Solutions Electrical Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr D Harwin





REGISTERED OFFICE: 1a Garston Drive
Watford
WD25 9LB





REGISTERED NUMBER: 08954119 (England and Wales)





ACCOUNTANTS: CAS MCGEE LTD
Chartered Certified Accountants
130A Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF

Ab Solutions Electrical Limited (Registered number: 08954119)

Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Intangible assets 4 -
Tangible assets 5 7,967
7,967

CURRENT ASSETS
Debtors 6 28,489
Cash at bank 78,730
107,219
CREDITORS
Amounts falling due within one year 7 34,801
NET CURRENT ASSETS 72,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,385

PROVISIONS FOR LIABILITIES 8 1,514
NET ASSETS 78,871

CAPITAL AND RESERVES
Called up share capital 9 1
Retained earnings 10 78,870
SHAREHOLDERS' FUNDS 78,871

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 director acknowledges his 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.

Ab Solutions Electrical Limited (Registered number: 08954119)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2023 and were signed by:





Mr D Harwin - Director


Ab Solutions Electrical Limited (Registered number: 08954119)

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

1. STATUTORY INFORMATION

Ab Solutions Electrical 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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.

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.

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.

Ab Solutions Electrical Limited (Registered number: 08954119)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at a 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 costs determined using the effective interest method, less any impairments losses for bad and doubtful debts.

Provisions
Provisions (ie./ liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 10,350 3,854 15,738 29,942
DEPRECIATION
At 1 April 2022 10,350 3,854 5,115 19,319
Charge for year - - 2,656 2,656
At 31 March 2023 10,350 3,854 7,771 21,975
NET BOOK VALUE
At 31 March 2023 - - 7,967 7,967
At 31 March 2022 - - 10,623 10,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 28,489

Ab Solutions Electrical Limited (Registered number: 08954119)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Tax 5,956
VAT 1,847
Other creditors 23,848
Directors' current accounts 50
Accrued expenses 3,100
34,801

8. PROVISIONS FOR LIABILITIES
£   
Deferred tax
Accelerated capital allowances 1,514

Deferred
tax
£   
Provided during year 1,514
Balance at 31 March 2023 1,514

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary £1 1

10. RESERVES
Retained
earnings
£   

At 1 April 2022 91,649
Profit for the year 21,221
Dividends (34,000 )
At 31 March 2023 78,870

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2023:

£   
Mr D Harwin
Balance outstanding at start of year -
Amounts advanced 50
Amounts repaid -
Amounts written off -
Amounts waived -
Balance outstanding at end of year 50

Ab Solutions Electrical Limited (Registered number: 08954119)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

At the end of the year the company owed the director £50. This amount was lent to the company interest free and without any other repayment terms attached to it.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £34,000 were paid to the director .

13. EVENTS AFTER THE REPORTING PERIOD

There were no essential either adjusting events or non-adjusting events in the period of time elapsing between the balance sheet date and the date on which these financial statements are prepared. The impact of COVID-19 is described in the Going Concern Consideration Note.

The ongoing Russia-Ukraine conflict has resulted in going concern becoming a significant risk. The United States and Europe have avoided direct military conflict with Russia amid its conflict with Ukraine. They have however used a set of financial sanctions to limit Russia's access to financial resources. The impact of the sanctions may result in difficulties for the company to operate. Neither A B Solutions Electrical Limited nor the owners are currently on the sanctions list at the time of this report, however this may change as the situation changes.

14. GOING CONCERN CONSIDERATION

The Company's management does not see a severe impact of COVID-19 outbreak to its activity. The Company tested the financial impact on the following areas of financial statements that can be affected:
- Breach of trade contracts
- Revenue
- Cost of sales
- Expenditure
- Inventories fair value measurements
- Debt repayment

Ab Solutions Electrical Limited (Registered number: 08954119)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

15. IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible and
intangible assets to determine whether there is any indication that those assets have suffered an
impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in
order to determine the extent of the impairment loss (if any). Where it is not possible to estimate
the recoverable amount of an individual asset. the company estimates the recoverable amount of
the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing.
value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks
specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its
carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its
recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the
relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss
have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of
the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount,
but so that the increased carrying amount does not exceed the carrying amount that would have
been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

16. CLIMATE CHANGES AND ENVIRONMENTAL RISKS AND RESPONSIBILITIES

Due to the nature of the entity's operational activities there's no exposure to significant environmental risks.

Despite the fact that our organisation offering consulting and software related services, we are always considering the environmental sustainability. Future business performance will be impacted by our ability to effectively manage the transition to a low carbon economy balancing commercial decisions with the environmental responsibility, agreeing business-wide decarbonisation priorities, and managing changes in customer preferences.
This includes management of the increasing costs associated with sustainable materials, recycling carbon pricing and further technological, policy and regulatory interventions.
We are operating in a world and a sector with high pressure from carbon-conscious customers, government bodies and regulators to operate in a more environmentally conscious manner. To respond to the circular economy, waste reduction and low carbon products and use of a recycled parts and related components.