Registered number
07340955
A B Projects Limited
Filleted Accounts
31 August 2023
A B Projects Limited
Registered number: 07340955
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,777 922
Current assets
Debtors 4 39,530 53,097
Cash at bank and in hand 40,020 26,975
79,550 80,072
Creditors: amounts falling due within one year 5 (40,217) (37,760)
Net current assets 39,333 42,312
Total assets less current liabilities 49,110 43,234
Creditors: amounts falling due after more than one year 6 (27,500) (36,119)
Net assets 21,610 7,115
Capital and reserves
Called up share capital 400 400
Profit and loss account 21,210 6,715
Shareholders' funds 21,610 7,115
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Burrows
Director
Approved by the board on 23 February 2024
A B Projects Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 5,727
Additions 10,000
At 31 August 2023 15,727
Depreciation
At 1 September 2022 4,805
Charge for the year 1,145
At 31 August 2023 5,950
Net book value
At 31 August 2023 9,777
At 31 August 2022 922
4 Debtors 2023 2022
£ £
Trade debtors 39,530 53,097
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 20,410 18,603
Taxation and social security costs 10,518 9,868
Other creditors 9,289 9,289
40,217 37,760
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,500 36,119
7 Other information
A B Projects Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Croft Barn
Dunston Heath
Stafford
ST18 9AQ
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