Registered number
04457982
ABM Building Services Limited
Filleted Accounts
31 July 2023
ABM Building Services Limited
Registered number: 04457982
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 38,720 45,484
Current assets
Work in progress 44,834 34,250
Debtors 4 64,317 116,175
Cash at bank and in hand 114,753 35,767
223,904 186,192
Creditors: amounts falling due within one year 5 (158,005) (110,407)
Net current assets 65,899 75,785
Total assets less current liabilities 104,619 121,269
Creditors: amounts falling due after more than one year 6 (58,500) (69,500)
Net assets 46,119 51,769
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,019 51,669
Shareholders' funds 46,119 51,769
The directors are 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 directors acknowledge their 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.
C Gadd
Director
Approved by the board on 3 April 2024
ABM Building Services Limited
Notes to the Accounts
for the year ended 31 July 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 (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 vat. Turnover includes revenue earned from the sale of goods and rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership 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 is measured by comparing costs incurred to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles over 4 years
Stock and work in progress
Stock and work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. The cost of carrying work in progress and stock is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (usually the invoice price), less any losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including transaction costs and subsequently measured at amortised cost using the effective interest method, less any impairment for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (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 a previous period. Deferred tax is recognised in respect of 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 by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2022 14,179 51,248 65,427
Additions 12,350 - 12,350
Disposals (1,331) - (1,331)
At 31 July 2023 25,198 51,248 76,446
Depreciation
At 1 August 2022 7,131 12,812 19,943
Charge for the year 6,302 12,812 19,114
On disposals (1,331) - (1,331)
At 31 July 2023 12,102 25,624 37,726
Net book value
At 31 July 2023 13,096 25,624 38,720
At 31 July 2022 7,048 38,436 45,484
4 Debtors 2023 2022
£ £
Trade debtors 50,375 100,752
Other debtors 13,942 15,423
64,317 116,175
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,218 12,248
Trade creditors 87,849 65,374
Taxation and social security costs 18,055 2,111
Other creditors 39,883 30,674
158,005 110,407
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings in which the company has a participating interest 58,500 69,500
7 Controlling party
The company is wholly owned by ABM BUILD Ltd, a company under the control of Mrs & Mrs Gadd, the directors and majority shareholders.
8 Other information
ABM Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Liston House
Faygate Lane
Horsham
RH12 4SJ
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