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REGISTERED NUMBER: 03365944 (England and Wales)














Abicad Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Abicad Limited (Registered number: 03365944)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abicad Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: R A Barrs
Mrs T Barrs
Mrs C L Soper
R J Treadwell





SECRETARY: Mrs T Barrs





REGISTERED OFFICE: 56 Botley Road
Park Gate
Southampton
SO31 1BB





REGISTERED NUMBER: 03365944 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Abicad Limited (Registered number: 03365944)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,460 64,035

CURRENT ASSETS
Debtors 5 220,458 241,976
Cash at bank and in hand 76,046 47,523
296,504 289,499
CREDITORS
Amounts falling due within one year 6 183,947 206,749
NET CURRENT ASSETS 112,557 82,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,017

146,785

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 157,817 146,585
158,017 146,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Abicad Limited (Registered number: 03365944)

Balance Sheet - continued
31 May 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 29 November 2023 and were signed on its behalf by:





R A Barrs - Director


Abicad Limited (Registered number: 03365944)

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

1. STATUTORY INFORMATION

Abicad 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 50% on cost

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.

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
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 - 15 ) .

Abicad Limited (Registered number: 03365944)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022 126,448 183,236 309,684
Additions 408 2,142 2,550
At 31 May 2023 126,856 185,378 312,234
DEPRECIATION
At 1 June 2022 72,359 173,290 245,649
Charge for year 13,414 7,711 21,125
At 31 May 2023 85,773 181,001 266,774
NET BOOK VALUE
At 31 May 2023 41,083 4,377 45,460
At 31 May 2022 54,089 9,946 64,035

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,226 217,160
Due from related company 3,844 3,844
Directors' current accounts 22,000 -
Prepayments 5,388 20,972
220,458 241,976

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,682 5,905
Taxation 38,908 32,865
Social security and other taxes 8,210 10,159
Pension 1,742 1,805
VAT 78,067 77,856
Other creditors 20,891 16,431
Loan 28,947 61,228
Directors' current accounts 500 500
183,947 206,749

Abicad Limited (Registered number: 03365944)

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

7. RELATED PARTY DISCLOSURES

Mr R & Mrs T Barrs are both directors and shareholders of ChayB Limited. During the year the company loaned £nil (2022: £3,000) to ChayB Limited. As at 31 May 2023, the company was owed £3,844 (2022: £3,844) from ChayB Limited.

During the year the company paid rent to ChayB Limited totalling £33,040 (2022: £34,320).