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Registered Number: 06342763
England and Wales

 

 

 

ABBEYSAFE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,122    1,496 
1,122    1,496 
Current assets      
Debtors: amounts falling due within one year 77,908    40,797 
Cash at bank and in hand 67,860    70,342 
145,768    111,139 
Creditors: amount falling due within one year (49,462)   (37,566)
Net current assets 96,306    73,573 
 
Total assets less current liabilities 97,428    75,069 
Net assets 97,428    75,069 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 97,328    74,969 
Shareholder's funds 97,428    75,069 
 


For the year ended 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:
  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 directors acknowledge 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 board of directors on 05 February 2024 and were signed on its behalf by:


-------------------------------
Mr Metul Sachania
Director
1
General Information
ABBEYSAFE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06342763, registration address 171 Cornwall Road, Ruislip, Middlesex, HA4 6AE.

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 invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Revenue is recognised when invoices are raised.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
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:
Motor vehicles 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor vehicles   Total
  £   £
At 01 September 2022 19,920    19,920 
Additions  
Disposals  
At 31 August 2023 19,920    19,920 
Depreciation
At 01 September 2022 18,424    18,424 
Charge for year 374    374 
On disposals  
At 31 August 2023 18,798    18,798 
Net book values
Closing balance as at 31 August 2023 1,122    1,122 
Opening balance as at 01 September 2022 1,496    1,496 


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Makalu Properties Limited76,982 36,982 

Included in debtors is an amount owed by Makalu Properties Limited, a company in which the directors are common.
2