1 April 2022 v2023.33.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP065605112022-04-012023-03-31065605112023-03-31065605112022-03-3106560511core:WithinOneYear2023-03-3106560511core:WithinOneYear2022-03-3106560511core:AfterOneYear2023-03-3106560511core:AfterOneYear2022-03-3106560511core:ShareCapital2023-03-3106560511core:ShareCapital2022-03-3106560511core:RetainedEarningsAccumulatedLosses2023-03-3106560511core:RetainedEarningsAccumulatedLosses2022-03-3106560511bus:Director12022-04-012023-03-3106560511bus:RegisteredOffice2022-04-012023-03-3106560511core:NetGoodwill2022-04-012023-03-3106560511core:Goodwill2022-04-012023-03-3106560511core:OtherResidualIntangibleAssets2022-04-012023-03-3106560511core:PlantMachinery2022-04-012023-03-3106560511core:MotorVehicles2022-04-012023-03-3106560511core:OfficeEquipment2022-04-012023-03-31065605112021-04-012022-03-3106560511core:NetGoodwill2023-03-3106560511core:IntangibleAssetsOtherThanGoodwill2023-03-3106560511core:NetGoodwill2022-04-0106560511core:IntangibleAssetsOtherThanGoodwill2022-04-01065605112022-04-0106560511core:NetGoodwill2022-03-3106560511core:PlantMachinery2022-04-0106560511core:PlantMachinery2023-03-3106560511core:PlantMachinery2022-03-310656051112022-04-012023-03-3106560511countries:EnglandWales2022-04-012023-03-3106560511bus:AuditExemptWithAccountantsReport2022-04-012023-03-3106560511bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106560511bus:SmallEntities2022-04-012023-03-3106560511bus:FullAccounts2022-04-012023-03-31
Company registration number:
06560511
A.B.C. Structures Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
A.B.C. Structures Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Intangible assets 5
7,500
 
9,000
 
Tangible assets 6
160,776
 
134,815
 
168,276
 
143,815
 
Current assets    
Debtors 7
675,476
 
345,107
 
Cash at bank and in hand
70,576
 
55,878
 
746,052
 
400,985
 
Creditors: amounts falling due within one year 8
(367,260
)
(275,662
)
Net current assets
378,792
 
125,323
 
Total assets less current liabilities 547,068   269,138  
Creditors: amounts falling due after more than one year 9
(39,351
)
(57,952
)
Net assets
507,717
 
211,186
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
507,715
 
211,184
 
Shareholders funds
507,717
 
211,186
 
For the year ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
19 December 2023
, and are signed on behalf of the board by:
D Coleman
Director
Company registration number:
06560511
A.B.C. Structures Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 30, Basepoint Business Centre
,
Little High Street
,
Shoreham - By - Sea
,
West Sussex
,
BN43 5EG
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
10% straight line
Other intangible assets
25% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
Office equipment
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
36
(2022:
5.00
).

5 Intangible assets

GoodwillOther intangible assetsTotal
£££
Cost      
At
1 April 2022
and
31 March 2023
51,000
 
3,965
 
54,965
 
Amortisation      
At
1 April 2022
42,000
 
3,965
 
45,965
 
Charge
1,500
  -  
1,500
 
At
31 March 2023
43,500
 
3,965
 
47,465
 
Carrying amount      
At
31 March 2023
7,500
  -  
7,500
 
At 31 March 2022
9,000
  -  
9,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
602,025
 
Additions
69,955
 
Disposals
(3,500
)
At
31 March 2023
668,480
 
Depreciation  
At
1 April 2022
467,210
 
Charge
43,922
 
Disposals
(3,428
)
At
31 March 2023
507,704
 
Carrying amount  
At
31 March 2023
160,776
 
At 31 March 2022
134,815
 

7 Debtors

20232022
££
Trade debtors
44,319
 
32,083
 
Other debtors
631,157
 
313,024
 
675,476
 
345,107
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
15,000
 
15,000
 
Trade creditors
105,243
 
75,239
 
Taxation and social security
221,151
 
155,176
 
Other creditors
25,866
 
30,247
 
367,260
 
275,662
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
31,250
 
46,250
 
Other creditors
8,101
 
11,702
 
39,351
 
57,952