Abbey Builders (London) Limited 04223108 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is was that of building and general construction Digita Accounts Production Advanced 6.30.9574.0 true 04223108 2022-09-01 2023-08-31 04223108 2023-08-31 04223108 bus:CompanySecretaryDirector2 1 2023-08-31 04223108 bus:Director2 1 2023-08-31 04223108 bus:Original 2023-08-31 04223108 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 04223108 core:CurrentFinancialInstruments 2023-08-31 04223108 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04223108 core:Non-currentFinancialInstruments 2023-08-31 04223108 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04223108 core:LandBuildings 2023-08-31 04223108 core:OtherPropertyPlantEquipment 2023-08-31 04223108 bus:SmallEntities 2022-09-01 2023-08-31 04223108 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04223108 bus:FullAccounts 2022-09-01 2023-08-31 04223108 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04223108 bus:RegisteredOffice 2022-09-01 2023-08-31 04223108 bus:CompanySecretaryDirector2 2022-09-01 2023-08-31 04223108 bus:CompanySecretaryDirector2 1 2022-09-01 2023-08-31 04223108 bus:Director2 2022-09-01 2023-08-31 04223108 bus:Director2 1 2022-09-01 2023-08-31 04223108 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04223108 core:LandBuildings 2022-09-01 2023-08-31 04223108 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 04223108 core:PlantMachinery 2022-09-01 2023-08-31 04223108 countries:EnglandWales 2022-09-01 2023-08-31 04223108 2022-08-31 04223108 bus:CompanySecretaryDirector2 1 2022-08-31 04223108 bus:Director2 1 2022-08-31 04223108 core:LandBuildings 2022-08-31 04223108 core:OtherPropertyPlantEquipment 2022-08-31 04223108 2021-09-01 2022-08-31 04223108 2022-08-31 04223108 bus:CompanySecretaryDirector2 1 2022-08-31 04223108 bus:Director2 1 2022-08-31 04223108 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-08-31 04223108 core:CurrentFinancialInstruments 2022-08-31 04223108 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04223108 core:Non-currentFinancialInstruments 2022-08-31 04223108 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 04223108 core:LandBuildings 2022-08-31 04223108 core:OtherPropertyPlantEquipment 2022-08-31 04223108 bus:CompanySecretaryDirector2 1 2021-09-01 2022-08-31 04223108 bus:Director2 1 2021-09-01 2022-08-31 04223108 bus:CompanySecretaryDirector2 1 2021-08-31 04223108 bus:Director2 1 2021-08-31 iso4217:GBP xbrli:pure

Registration number: 04223108

Abbey Builders (London) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Abbey Builders (London) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Abbey Builders (London) Limited

Company Information

Directors

Mrs J Ioannou

Mr A Ioannou

Company secretary

Mrs J Ioannou

Registered office

Unit 330
Rye House 161 High Street
Ruislip
HA4 8JY

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Abbey Builders (London) Limited

(Registration number: 04223108)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,752

7,670

Current assets

 

Debtors

5

375,656

345,897

Creditors: Amounts falling due within one year

6

(343,667)

(321,184)

Net current assets

 

31,989

24,713

Total assets less current liabilities

 

37,741

32,383

Creditors: Amounts falling due after more than one year

6

(18,215)

(28,271)

Provisions for liabilities

(1,100)

(1,500)

Net assets

 

18,426

2,612

Capital and reserves

 

Called up share capital

50

50

Retained earnings

18,376

2,562

Shareholders' funds

 

18,426

2,612

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

 

Abbey Builders (London) Limited

(Registration number: 04223108)
Balance Sheet as at 31 August 2023

.........................................
Mr A Ioannou
Director

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 330
Rye House 161 High Street
Ruislip
HA4 8JY
England

These financial statements were authorised for issue by the Board on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight line over 10 years

Plant and machinery

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

4

Tangible assets

Land and buildings
£

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

12,836

66,864

79,700

At 31 August 2023

12,836

66,864

79,700

Depreciation

At 1 September 2022

12,836

59,194

72,030

Charge for the year

-

1,918

1,918

At 31 August 2023

12,836

61,112

73,948

Carrying amount

At 31 August 2023

-

5,752

5,752

At 31 August 2022

-

7,670

7,670

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

57,340

38,490

Prepayments

-

3,750

Other debtors

318,316

303,657

 

375,656

345,897

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,569

21,917

Trade creditors

 

125,035

108,494

Taxation and social security

 

169,456

103,037

Accruals and deferred income

 

38,390

73,909

Other creditors

 

217

13,827

 

343,667

321,184

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

18,215

28,271

 

Abbey Builders (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

18,215

28,271

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,056

9,808

Bank overdrafts

513

10,508

Hire purchase contracts

-

1,601

10,569

21,917

8

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mrs J Ioannou

Advance

51,462

37,858

(40,000)

49,320

         
       

Mr A Ioannou

Advance

51,462

37,858

(40,000)

49,320

         
       

 

2022

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Mrs J Ioannou

Advance

21,838

75,330

(45,706)

51,462

         
       

Mr A Ioannou

Advance

21,838

75,330

(45,706)

51,462