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REGISTERED NUMBER: 10822190 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Abaca Solutions Limited

Abaca Solutions Limited (Registered number: 10822190)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Abaca Solutions Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: N King





SECRETARY:





REGISTERED OFFICE: 36a Market Street
New Mills
High Peak
SK22 4AA





REGISTERED NUMBER: 10822190 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Abaca Solutions Limited (Registered number: 10822190)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,575 11,446

CURRENT ASSETS
Stocks 5 2,640 2,630
Debtors 6 12,740 11,684
Cash at bank 14,782 23,343
30,162 37,657
CREDITORS
Amounts falling due within one year 7 18,022 22,018
NET CURRENT ASSETS 12,140 15,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,715

27,085

CREDITORS
Amounts falling due after more than one
year

8

7,800

11,400
NET ASSETS 11,915 15,685

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,815 15,585
11,915 15,685

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.

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 19 December 2023 and were signed by:





N King - Director


Abaca Solutions Limited (Registered number: 10822190)

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

1. STATUTORY INFORMATION

Abaca Solutions 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.

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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Abaca Solutions Limited (Registered number: 10822190)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 2,460 7,871 12,027 4,248 26,606
Additions - 262 - 166 428
At 31 March 2023 2,460 8,133 12,027 4,414 27,034
DEPRECIATION
At 1 April 2022 1,230 4,817 5,262 3,851 15,160
Charge for year 615 1,553 1,691 440 4,299
At 31 March 2023 1,845 6,370 6,953 4,291 19,459
NET BOOK VALUE
At 31 March 2023 615 1,763 5,074 123 7,575
At 31 March 2022 1,230 3,054 6,765 397 11,446

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 2,640 2,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 12,740 11,684

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans 3,600 3,600
Tax 6,649 9,061
Social security and other taxes 116 -
VAT 4,153 5,395
Other creditors 2,472 2,182
Directors' current accounts 2 830
Accrued expenses 1,030 950
18,022 22,018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans - 1-2 years 3,600 3,600
Other loans - 2-5 years 4,200 7,800
7,800 11,400