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REGISTERED NUMBER: 09306640 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Above Board (Solent) Limited

Above Board (Solent) Limited (Registered number: 09306640)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Above Board (Solent) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: A D Jones





REGISTERED OFFICE: Woodmill Lane
Southampton
Hampshire
SO18 2JR





REGISTERED NUMBER: 09306640 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Above Board (Solent) Limited (Registered number: 09306640)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,204 84,199

CURRENT ASSETS
Stocks 1,629,965 2,118,948
Debtors 5 95,841 58,657
Cash in hand 46,800 46,561
1,772,606 2,224,166
CREDITORS
Amounts falling due within one year 6 1,093,404 1,222,220
NET CURRENT ASSETS 679,202 1,001,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

749,406

1,086,145

CREDITORS
Amounts falling due after more than one
year

7

(296,874

)

(406,806

)

PROVISIONS FOR LIABILITIES 10 - (15,968 )
NET ASSETS 452,532 663,371

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 452,531 663,370
SHAREHOLDERS' FUNDS 452,532 663,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Above Board (Solent) Limited (Registered number: 09306640)

Balance Sheet - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





A D Jones - Director


Above Board (Solent) Limited (Registered number: 09306640)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Above Board (Solent) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance
Computer and catering equipment - 20% on 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.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Above Board (Solent) Limited (Registered number: 09306640)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 16 ) .

Above Board (Solent) Limited (Registered number: 09306640)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Computer
and
Plant and Motor catering
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 47,631 49,798 24,622 122,051
Additions 1,649 - 6,562 8,211
At 30 November 2023 49,280 49,798 31,184 130,262
DEPRECIATION
At 1 December 2022 21,511 10,776 5,565 37,852
Charge for year 9,801 7,800 4,605 22,206
At 30 November 2023 31,312 18,576 10,170 60,058
NET BOOK VALUE
At 30 November 2023 17,968 31,222 21,014 70,204
At 30 November 2022 26,120 39,022 19,057 84,199

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 12,599 17,962
Other debtors 83,242 40,695
95,841 58,657

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 58,334 58,333
Hire purchase contracts (see note 8) 7,329 7,108
Trade creditors 605,196 656,547
Taxation and social security 9,573 81,297
Other creditors 412,972 418,935
1,093,404 1,222,220

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 140,972 199,306
Hire purchase contracts (see note 8) 10,070 17,380
Other creditors 145,832 190,120
296,874 406,806

Above Board (Solent) Limited (Registered number: 09306640)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 7,329 7,108
Between one and five years 10,070 17,380
17,399 24,488

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 17,399 24,488

Hire purchase contracts are secured on the asset to which they relate.

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax - 15,968

Deferred
tax
£   
Balance at 1 December 2022 15,968
Accelerated capital allowances (15,968 )
Balance at 30 November 2023 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary share £1 1 1