Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-311515truetrue2023-01-01falseNo description of principal activity 13759816 2023-01-01 2023-12-31 13759816 2021-11-23 2022-12-31 13759816 2023-12-31 13759816 2022-12-31 13759816 c:CompanySecretary1 2023-01-01 2023-12-31 13759816 c:Director1 2023-01-01 2023-12-31 13759816 c:Director2 2023-01-01 2023-12-31 13759816 c:Director2 2023-12-31 13759816 c:Director3 2023-01-01 2023-12-31 13759816 c:Director3 2023-12-31 13759816 c:Director4 2023-01-01 2023-12-31 13759816 c:Director4 2023-12-31 13759816 c:RegisteredOffice 2023-01-01 2023-12-31 13759816 d:PlantMachinery 2023-01-01 2023-12-31 13759816 d:PlantMachinery 2023-12-31 13759816 d:PlantMachinery 2022-12-31 13759816 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13759816 d:OfficeEquipment 2023-01-01 2023-12-31 13759816 d:OfficeEquipment 2023-12-31 13759816 d:OfficeEquipment 2022-12-31 13759816 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13759816 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 13759816 d:OtherPropertyPlantEquipment 2023-12-31 13759816 d:OtherPropertyPlantEquipment 2022-12-31 13759816 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13759816 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13759816 d:CurrentFinancialInstruments 2023-12-31 13759816 d:CurrentFinancialInstruments 2022-12-31 13759816 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13759816 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13759816 d:ShareCapital 2023-12-31 13759816 d:ShareCapital 2022-12-31 13759816 d:RetainedEarningsAccumulatedLosses 2023-12-31 13759816 d:RetainedEarningsAccumulatedLosses 2022-12-31 13759816 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 13759816 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 13759816 d:OtherDeferredTax 2023-12-31 13759816 d:OtherDeferredTax 2022-12-31 13759816 c:FRS102 2023-01-01 2023-12-31 13759816 c:Audited 2023-01-01 2023-12-31 13759816 c:FullAccounts 2023-01-01 2023-12-31 13759816 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13759816 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 13759816







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


ABLE PILING & CONSTRUCTION LIMITED






































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ABLE PILING & CONSTRUCTION LIMITED
 


 
COMPANY INFORMATION


Directors
C Macklin 
A Ahmad (appointed 24 February 2023)
N Waite (appointed 22 June 2023)
J Chaloner (appointed 1 February 2024)




Company secretary
E Friar



Registered number
13759816



Registered office
Unit 2 Sharlands Industrial Estate
Sharlands Road

Fareham

Hampshire

PO14 1RD




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


ABLE PILING & CONSTRUCTION LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 8


 


ABLE PILING & CONSTRUCTION LIMITED
REGISTERED NUMBER:13759816



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
128,603
142,567

  
128,603
142,567

Current assets
  

Stocks
  
23,649
-

Debtors: amounts falling due within one year
 5 
507,358
149,659

Cash at bank and in hand
  
90,361
46,239

  
621,368
195,898

Creditors: amounts falling due within one year
 6 
(936,861)
(397,662)

Net current liabilities
  
 
 
(315,493)
 
 
(201,764)

Total assets less current liabilities
  
(186,890)
(59,197)

Provisions for liabilities
  

Deferred tax
 7 
(31,451)
(34,561)

  
 
 
(31,451)
 
 
(34,561)

Net liabilities
  
(218,341)
(93,758)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(218,441)
(93,858)

  
(218,341)
(93,758)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 April 2024.




C Macklin
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Able Piling & Construction Limited is a private company limited by shares, incorporated in England and Wales. The address of its registered office and principal place of business, are disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at the year end the company had net liabilities of £218,341 (2022 - £93,758). Of the company's £936,861
creditors, £718,036 was due to companies within the group. The indirect parent company, Franki
Foundations Belgium SA has confirmed both its intention and ability to support the company for the
foreseeable future and therefore the directors continue to prepare the financial statements on a going concern
basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods..

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Office equipment
-
33%
straight line
Rigs
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 5

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
15
15


4.


Tangible fixed assets





Plant and machinery
Office equipment
Rigs
Total

£
£
£
£



Cost or valuation


At 1 January 2023
571
1,748
140,248
142,567


Additions
-
1,457
-
1,457



At 31 December 2023

571
3,205
140,248
144,024



Depreciation


Charge for the year on owned assets
571
825
14,025
15,421



At 31 December 2023

571
825
14,025
15,421



Net book value



At 31 December 2023
-
2,380
126,223
128,603



At 31 December 2022
571
1,748
140,248
142,567

Page 6

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,724
-

Amounts owed by group undertakings
402,465
328

Other debtors
-
1,963

Prepayments and accrued income
6,325
26,242

Amounts recoverable on long-term contracts
96,844
121,126

507,358
149,659


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
69,984
29,470

Amounts owed to group undertakings
718,036
270,165

Other taxation and social security
34,408
26,138

Other creditors
19,118
17,585

Accruals and deferred income
95,315
54,304

936,861
397,662


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 7

 


ABLE PILING & CONSTRUCTION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
(34,561)


Charged to profit or loss
3,110



At end of year
(31,451)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(32,151)
(35,642)

Short term timing differences
700
1,081

(31,451)
(34,561)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund. Contributions totalling £6,259 (2022: £4,323) were payable to the fund at the reporting date and are included in creditors.


9.


Controlling party

The immediate parent company is Franki Foundations UK Limited. 
The smallest group which prepares consolidated accounts in which these figures are included is BESIX Group s.a.
A copy of these can be obtained from:
Avenue des Comunautes
Gemeenschappenlaan 100
1200 Brussels
Belgium
The BESIX Group is 50% owned by Orascom Construction Limited, a company dual listed on the Dubai and Egypt stock exchange. No individual owns more than Orascom Construction Limited's shareholding and therefore the directors consider that there is no individual ultimate controlling party.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 10 April 2024 by Andrew Galliers ACA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 8