Company registration number 09257450 (England and Wales)
Abzorb U Ltd
Unaudited
financial statements
for the year ended 31 October 2023
PAGES FOR FILING WITH REGISTRAR
Abzorb U Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Abzorb U Ltd
Statement of financial position
as at 31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
750
1,000
Current assets
Debtors
2,716,971
1,121,049
Cash at bank and in hand
126,207
581,210
2,843,178
1,702,259
Creditors: amounts falling due within one year
(2,284,002)
(1,035,408)
Net current assets
559,176
666,851
Total assets less current liabilities
559,926
667,851
Provisions for liabilities
(190)
(190)
Net assets
559,736
667,661
Capital and reserves
Called up share capital
5
150
150
Profit and loss reserves
559,586
667,511
Total equity
559,736
667,661
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
Abzorb U Ltd
Statement of financial position (continued)
as at 31 October 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
S Beeby
Director
Company Registration No. 09257450
Abzorb U Ltd
Notes to the financial statements
for the year ended 31 October 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on provision of contractual service obligations where a right to consideration is due.
Tangible fixed assets
Depreciation is recognised so as to write off the cost of the asset over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance basis
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
Abzorb U Ltd
Notes to the financial statements (continued)
for the year ended 31 October 2023
2
Employees
(continued)
- 4 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 November 2022 and 31 October 2023
2,798
Depreciation and impairment
At 1 November 2022
1,798
Depreciation charged in the year
250
At 31 October 2023
2,048
Carrying amount
At 31 October 2023
750
At 31 October 2022
1,000
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
190
190
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
50
50
50
50
B Ordinary shares of £1 each
50
50
50
50
C Ordinary shares of £1 each
50
50
50
50
150
150
150
150
6
Parent company
The parent company of Abzorb U Ltd is Abzorb U Holdings Ltd and its registered office is Abzorb House, Armytage Road, Brighouse, HD6 1QF.
7
Company information
Abzorb U Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Armytage Road, Brighouse, HD6 1QF.