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Registration number: SC704602

ABE Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

ABE Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

ABE Consulting Limited

Company Information

Directors

Mrs A Laing

Mr S Laing

Registered office

Summit House
4-5 Mitchell Street
Edinburgh
EH6 7BD

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

ABE Consulting Limited

(Registration number: SC704602)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

856

850

Current assets

 

Debtors

5

-

4,577

Cash at bank and in hand

 

15,920

1,053

 

15,920

5,630

Creditors: Amounts falling due within one year

6

(16,725)

(6,206)

Net current liabilities

 

(805)

(576)

Net assets

 

51

274

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

49

272

Shareholders' funds

 

51

274

For the financial year ending 31 July 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 August 2023 and signed on its behalf by:
 

.........................................
Mrs A Laing
Director

.........................................
Mr S Laing
Director

 
     
 

ABE Consulting Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Summit House
4-5 Mitchell Street
Edinburgh
EH6 7BD

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 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.

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.

Tax

The tax expense for the period comprises current 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.

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.

 

ABE Consulting Limited

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

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

Office equipment

20% Straight Line

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

ABE Consulting Limited

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

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

1,062

1,062

Additions

273

273

At 31 July 2023

1,335

1,335

Depreciation

At 1 August 2022

212

212

Charge for the year

267

267

At 31 July 2023

479

479

Carrying amount

At 31 July 2023

856

856

At 31 July 2022

850

850

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

4,369

Other debtors

-

208

 

-

4,577

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

104

5,606

Taxation and social security

 

10,653

-

Accruals and deferred income

 

800

600

Other creditors

 

5,168

-

 

16,725

6,206

 

ABE Consulting Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2