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REGISTERED NUMBER: SC289955 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ABERBUILD LIMITED

ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

ABERBUILD LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: Mr G Smith





REGISTERED OFFICE: 10 Fare Park Gardens
Westhill
Aberdeenshire
AB32 6WL





REGISTERED NUMBER: SC289955 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 28,785 39,483

CURRENT ASSETS
Stocks 2,186 2,186
Debtors 6 114,599 69,024
Cash at bank and in hand 161 6,056
116,946 77,266
CREDITORS
Amounts falling due within one year 7 98,503 56,530
NET CURRENT ASSETS 18,443 20,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,228

60,219

CREDITORS
Amounts falling due after more than one year 8 (37,943 ) (52,355 )

PROVISIONS FOR LIABILITIES (5,469 ) (7,502 )
NET ASSETS 3,816 362

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 3,806 352
3,816 362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:




Mr G D Smith - Director


ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Aberbuild Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade & other debtors, cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity.

Basic financial liabilities
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2022 15,253 65,296 80,549
Disposals (448 ) (4,650 ) (5,098 )
At 31 October 2023 14,805 60,646 75,451
DEPRECIATION
At 1 November 2022 12,335 28,731 41,066
Charge for year 730 8,865 9,595
Eliminated on disposal (448 ) (3,547 ) (3,995 )
At 31 October 2023 12,617 34,049 46,666
NET BOOK VALUE
At 31 October 2023 2,188 26,597 28,785
At 31 October 2022 2,918 36,565 39,483

ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 60,646
Transfer to ownership (17,496 )
At 31 October 2023 43,150
DEPRECIATION
At 1 November 2022 25,184
Charge for year 7,481
Transfer to ownership (11,960 )
At 31 October 2023 20,705
NET BOOK VALUE
At 31 October 2023 22,445
At 31 October 2022 35,462

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 109,269 50,981
Other debtors 4,522 8,705
Directors' current accounts - 5,577
VAT 808 -
Prepayments - 3,761
114,599 69,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 12,903 10,474
Hire purchase contracts (see note 10) 6,779 10,753
Trade creditors 60,128 18,640
Tax 9,452 2,269
Social security and other taxes 3,142 1,236
VAT - 10,332
Other creditors 4,927 2,826
Directors' current accounts 1,172 -
98,503 56,530

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 15,835 25,355
Hire purchase contracts (see note 10) 22,108 27,000
37,943 52,355

ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,905 -
Bank loans 9,998 10,474
12,903 10,474

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,002 10,737

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,833 14,618

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 6,779 10,753
Between one and five years 22,108 27,000
28,887 37,753

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mr G Smith
Balance outstanding at start of year 5,578 4,454
Amounts advanced 3 1,124
Amounts repaid (6,752 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,171 ) 5,578

These amounts bear no interest and have no fixed repayment terms.

12. RELATED PARTY DISCLOSURES

During the year net loan repayments were received from A Smith, wife of the director, of £2,760 (2022: net advances £600). As at the year end, a balance of £nil (2022: £2,760) was due to the company from A Smith.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G D Smith.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ABERBUILD LIMITED (REGISTERED NUMBER: SC289955)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aberbuild Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Aberbuild Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aberbuild Limited and state those matters that we have agreed to state to the director of Aberbuild Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Aberbuild Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aberbuild Limited. You consider that Aberbuild Limited 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 financial statements of Aberbuild Limited. 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 financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


31 July 2024