Registered number
04412641
Abiton Limited
Filleted Accounts
30 April 2023
Abiton Limited
Registered number: 04412641
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 90,170 96,170
Current assets
Stocks 55,908 22,500
Debtors 4 9,015 16,015
Cash at bank and in hand 119,990 64,662
184,913 103,177
Creditors: amounts falling due within one year 5 (25,690) (35,320)
Net current assets 159,223 67,857
Net assets 249,393 164,027
Capital and reserves
Called up share capital 100 100
Profit and loss account 249,293 163,927
Shareholders' funds 249,393 164,027
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.
PB Bennett
Director
Approved by the board on 19 January 2024
Abiton Limited
Notes to the Accounts
for the year ended 30 April 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 14 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 25,059 138,698 137,320 301,077
At 30 April 2023 25,059 138,698 137,320 301,077
Depreciation
At 1 May 2022 - 134,350 70,557 204,907
Charge for the year - 3,000 3,000 6,000
At 30 April 2023 - 137,350 73,557 210,907
Net book value
At 30 April 2023 25,059 1,348 63,763 90,170
At 30 April 2022 25,059 4,348 66,763 96,170
4 Debtors 2023 2022
£ £
Trade debtors - 7,000
Other debtors 9,015 9,015
9,015 16,015
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors (2,115) (2,115)
Taxation and social security costs 9,178 298
Other creditors 18,627 37,137
25,690 35,320
6 Controlling party
The Company is controlled by its Directors.
7 Other information
Abiton Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ivy Lodbe
11 Clifford Close
Chesterfield
S40 3PP
Abiton Limited 04412641 false 2022-05-01 2023-04-30 2023-04-30 VT Final Accounts April 2022 PB Bennett No description of principal activity 04412641 2021-05-01 2022-04-30 04412641 core:WithinOneYear 2022-04-30 04412641 core:ShareCapital 2022-04-30 04412641 core:RetainedEarningsAccumulatedLosses 2022-04-30 04412641 2022-05-01 2023-04-30 04412641 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04412641 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 04412641 bus:Director40 2022-05-01 2023-04-30 04412641 1 2022-05-01 2023-04-30 04412641 2 2022-05-01 2023-04-30 04412641 core:LandBuildings 2022-05-01 2023-04-30 04412641 core:PlantMachinery 2022-05-01 2023-04-30 04412641 core:Vehicles 2022-05-01 2023-04-30 04412641 countries:England 2022-05-01 2023-04-30 04412641 bus:FRS102 2022-05-01 2023-04-30 04412641 bus:FullAccounts 2022-05-01 2023-04-30 04412641 2023-04-30 04412641 core:WithinOneYear 2023-04-30 04412641 core:ShareCapital 2023-04-30 04412641 core:RetainedEarningsAccumulatedLosses 2023-04-30 04412641 core:LandBuildings 2023-04-30 04412641 core:PlantMachinery 2023-04-30 04412641 core:Vehicles 2023-04-30 04412641 2022-04-30 04412641 core:LandBuildings 2022-04-30 04412641 core:PlantMachinery 2022-04-30 04412641 core:Vehicles 2022-04-30 iso4217:GBP xbrli:pure