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Registered Number: 02602712
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 June 2023

for

AB FLUID POWER LTD

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ab Fluid Power Ltd for the year ended year as set out on the following pages from the company's accounting records and from information and explanations you have given us.



This report is made solely to the Board of Directors of Ab Fluid Power Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ab Fluid Power Ltd and state those matters that we have agreed to state to the Board of Directors of Ab Fluid Power Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ab Fluid Power Ltd and its Board of Directors as a body for our work or for this report.



It is your duty to ensure that Ab Fluid Power Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ab Fluid Power Ltd. You consider that Ab Fluid Power Ltd is exempt from the statutory audit requirement for the year.



We have not been instructed to carry out an audit or a review of the accounts of Ab Fluid Power Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
West & Co Accountants & Tax Advisors
Leigh Court Business Centre
Pill Road, Abbots Leigh
Bristol
BS8 3RA
15 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 8,677    23,131 
8,677    23,131 
Current assets      
Stocks 221,759    224,969 
Debtors 85,164    122,972 
Cash at bank and in hand (82,326)   (67,286)
224,597    280,655 
Creditors: amount falling due within one year (119,706)   (166,922)
Net current assets 104,891    113,733 
 
Total assets less current liabilities 113,568    136,864 
Creditors: amount falling due after more than one year (19,677)   (29,162)
Provisions for liabilities (754)   (2,247)
Net assets 93,137    105,455 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 93,037    105,355 
Shareholder's funds 93,137    105,455 
 


For the year ended 30 June 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. 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 15 February 2024 and were signed on its behalf by:


-------------------------------
Robert Seymour
Director
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General Information
Ab Fluid Power Ltd is a private company, limited by shares, registered in England and Wales, registration number 02602712, registration address Unit 24 25 Dixon Business Centre Dixon Road , Brislington, Bristol, BS4 5QW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
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:
Short leasehold 10 years Straight Line
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Tangible fixed assets

Cost or valuation Short leasehold   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2022 43,697    68,720    84,364    30,345    227,126 
Additions       549    549 
Disposals     (51,079)     (51,079)
At 30 June 2023 43,697    68,720    33,285    30,894    176,596 
Depreciation
At 01 July 2022 43,697    65,372    67,973    26,953    203,995 
Charge for year   837    4,098    985    5,920 
On disposals     (41,996)     (41,996)
At 30 June 2023 43,697    66,209    30,075    27,938    167,919 
Net book values
Closing balance as at 30 June 2023   2,511    3,210    2,956    8,677 
Opening balance as at 01 July 2022   3,348    16,391    3,392    23,131 


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