Registered number
09262221
Abacus (Lincolnshire) Limited
Filleted Accounts
31 October 2023
Abacus (Lincolnshire) Limited
Registered number: 09262221
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 373,839 373,839
Current assets
Debtors 4 5,440 15,099
Cash at bank and in hand 17,065 5,961
22,505 21,060
Creditors: amounts falling due within one year 5 (287,513) (308,246)
Net current liabilities (265,008) (287,186)
Net assets 108,831 86,653
Capital and reserves
Called up share capital 2 2
Profit and loss account 108,829 86,651
Shareholders' funds 108,831 86,653
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.
T J Dyas
Director
Approved by the board on 26 July 2024
Abacus (Lincolnshire) Limited
Notes to the Accounts
for the year ended 31 October 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 rendering of services and is recognised according to the date on which the services are provided.
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:
Land and buildings no depreciation
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
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 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022 373,839
At 31 October 2023 373,839
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 373,839
At 31 October 2022 373,839
4 Debtors 2023 2022
£ £
Trade debtors 5,440 15,099
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 43 -
Taxation and social security costs 12,507 4,046
Other creditors 274,963 304,200
287,513 308,246
6 Controlling party
The company is wholly controlled by the directors.
7 Other information
Abacus (Lincolnshire) Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Abbey Road
Grimsby
North East Lincolnshire
DN32 0HQ
Its trading address is:
Unit 6 Cherry Tree Business Park
Estate Road No 5
Grimsby
North East Lincolnshire
DN31 2TG
Abacus (Lincolnshire) Limited 09262221 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 T J Dyas No description of principal activity 09262221 2021-11-01 2022-10-31 09262221 core:WithinOneYear 2022-10-31 09262221 core:ShareCapital 2022-10-31 09262221 core:RetainedEarningsAccumulatedLosses 2022-10-31 09262221 2022-11-01 2023-10-31 09262221 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09262221 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09262221 bus:Director40 2022-11-01 2023-10-31 09262221 1 2022-11-01 2023-10-31 09262221 2 2022-11-01 2023-10-31 09262221 countries:England 2022-11-01 2023-10-31 09262221 bus:FRS102 2022-11-01 2023-10-31 09262221 bus:FilletedAccounts 2022-11-01 2023-10-31 09262221 2023-10-31 09262221 core:WithinOneYear 2023-10-31 09262221 core:ShareCapital 2023-10-31 09262221 core:RetainedEarningsAccumulatedLosses 2023-10-31 09262221 core:LandBuildings 2023-10-31 09262221 2022-10-31 09262221 core:LandBuildings 2022-10-31 iso4217:GBP xbrli:pure