Registered number
08108827
Abexsun Limited
Filleted Accounts
30 June 2023
Abexsun Limited
Registered number: 08108827
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,624 4,174
Tangible assets 4 31,944 36,940
34,568 41,114
Current assets
Debtors 5 34,044 36,374
Cash at bank and in hand 2,215 -
36,259 36,374
Creditors: amounts falling due within one year 6 (21,025) (12,976)
Net current assets 15,234 23,398
Total assets less current liabilities 49,802 64,512
Creditors: amounts falling due after more than one year 7 (9,583) (16,463)
Provisions for liabilities (7,018) (7,018)
Net assets 33,201 41,031
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,101 40,931
Shareholders' funds 33,201 41,031
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.
Zeeshan Shah
Director
Approved by the board on 10 March 2024
Abexsun Limited
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Motor vehicles over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Website:
Cost
At 1 July 2022 7,749
At 30 June 2023 7,749
Amortisation
At 1 July 2022 3,575
Provided during the year 1,550
At 30 June 2023 5,125
Net book value
At 30 June 2023 2,624
At 30 June 2022 4,174
Website costs are being written off based on impairment each year.
4 Tangible fixed assets
Fixtures and fittings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 6,011 56,303 62,314
Additions 186 2,804 2,990
At 30 June 2023 6,197 59,107 65,304
Depreciation
At 1 July 2022 4,603 20,771 25,374
Charge for the year 319 7,667 7,986
At 30 June 2023 4,922 28,438 33,360
Net book value
At 30 June 2023 1,275 30,669 31,944
At 30 June 2022 1,408 35,532 36,940
5 Debtors 2023 2022
£ £
Amounts owed by associated undertakings 33,285 32,035
Prepayments and accrued income 759 3,892
Other debtors - 447
34,044 36,374
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 6,330
Taxation and social security costs 15,350 4,226
Director's account 48 304
Accruals and deferred income 627 2,116
21,025 12,976
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,583 16,463
8 Controlling party
The company is under the control of Zeeshan Shah and Bushra Zeeshan.
9 Other information
Abexsun Limited is a private company limited by shares and incorporated in England. Its registered office is:
4-6 St Marys Gate
St Marys Gate
Rochdale
OL16 1DZ
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