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Registered Number: 09413698
England and Wales

 

 

 

ABS ACCOUNTANCY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 795    896 
Tangible fixed assets 4 4,857    4,661 
5,652    5,557 
Current assets      
Debtors 7,419    11,366 
Cash at bank and in hand 2,335    4,409 
9,754    15,775 
Creditors: amount falling due within one year (15,275)   (16,643)
Net current liabilities (5,521)   (868)
 
Total assets less current liabilities 131    4,689 
Creditors: amount falling due after more than one year (2,567)   (3,163)
Defined benefit pension scheme asset/liability (443)   337 
Net liabilities (2,879)   1,863 
 

Capital and reserves
     
Share premium account 100    100 
Profit and loss account (2,979)   1,763 
Shareholder's funds (2,879)   1,863 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 March 2024 and were signed by:


-------------------------------
Thomas Craig LOWE
Director
1
General Information
ABS Accountancy Ltd is a private company, limited by shares, registered in England and Wales, registration number 09413698, registration address c/o Suite 1 Harewood Business Cente, 2 Fairfield Road, Buxton, Derbyshire, SK17 7DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
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 as the net of sales/value added tax, returns, rebates, and discounts.

The company recognises revenue when:

  • The amount of revenue can be reliably measured;
  • it is probable that future economic benefits will flow to the entity;
  •  and specific criteria have been met for each of the company's activities.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Other   Trade Mark   Total
  £   £   £
At 01 February 2023 1,967    220    2,187 
Additions    
Disposals    
At 31 January 2024 1,967    220    2,187 
Amortisation
At 01 February 2023 1,291      1,291 
Charge for year 101      101 
On disposals    
At 31 January 2024 1,392      1,392 
Net book values
At 31 January 2024 575    220    795 
At 31 January 2023 676    220    896 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 February 2023 748    10,739    11,487 
Additions 618    790    1,408 
Disposals   (1,396)   (1,396)
At 31 January 2024 1,366    10,133    11,499 
Depreciation
At 01 February 2023 448    6,379    6,827 
Charge for year 133    948    1,081 
On disposals   (1,266)   (1,266)
At 31 January 2024 581    6,061    6,642 
Net book values
Closing balance as at 31 January 2024 785    4,072    4,857 
Opening balance as at 01 February 2023 (496)   5,157    4,661 


2