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Registered Number: 04455899
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 October 2023

for

ABBAS MARQUEES LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 671,829    609,907 
671,829    609,907 
Current assets      
Debtors 6 38,532    21,766 
Cash at bank and in hand 64,072    198,649 
102,604    220,415 
Creditors: amount falling due within one year 7 (135,398)   (151,472)
Net current assets (32,794)   68,943 
 
Total assets less current liabilities 639,035    678,850 
Creditors: amount falling due after more than one year 8 (50,230)  
Provisions for liabilities 9 (106,950)   (96,654)
Net assets 481,855    582,196 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 481,755    582,096 
Shareholders' funds 481,855    582,196 
 


For the year ended 31 October 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. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 July 2024 and were signed on its behalf by:


-------------------------------
Steven Laycock
Director
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General Information
Abbas Marquees Limited is a private company, limited by shares, registered in England and Wales, registration number 04455899, registration address Leigh Court Business Centre , Pill Road, Bristol, BS8 3RA.

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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance interest element of the hire purchase arrangements is charged to the profit and loss account on a straight line basis.
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.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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:
Fleet 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Other Equipment 15% Reducing Balance
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 25 (2022 : 22).
3.

Financial Commitments, Guarantees and Contingencies

As at 1 April 2022 a debenture was issued against the company in relation to a loan held within SKLaycock Ltd, SKLaycock Ltd acquired a majority shareholding of Abbas Marquees Ltd as at this date.

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 5,000    5,000 
Additions  
Disposals  
At 31 October 2023 5,000    5,000 
Amortisation
At 01 November 2022 5,000    5,000 
Charge for year  
On disposals  
At 31 October 2023 5,000    5,000 
Net book values
At 31 October 2023  
At 31 October 2022  


5.

Tangible fixed assets

Cost or valuation Fleet   Motor Vehicles   Other Equipment   Improvements to property   Total
  £   £   £   £   £
At 01 November 2022 1,367,483    120,450    31,758    90,862    1,610,553 
Additions 47,553    24,950    78,549    8,349    159,401 
Disposals (453)   (10,700)       (11,153)
At 31 October 2023 1,414,583    134,700    110,307    99,211    1,758,801 
Depreciation
At 01 November 2022 915,953    82,443    2,250      1,000,646 
Charge for year 72,743    14,065    8,105      94,913 
On disposals (426)   (8,161)       (8,587)
At 31 October 2023 988,270    88,347    10,355      1,086,972 
Net book values
Closing balance as at 31 October 2023 426,313    46,353    99,952    99,211    671,829 
Opening balance as at 01 November 2022 451,530    38,007    29,508    90,862    609,907 


6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 7,949    14,161 
Prepayments & Accrued Income 15,596    7,605 
Corporation tax repayable 14,987   
38,532    21,766 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 17,501    3,645 
Corporation Tax   28,490 
PAYE & Social Security 5,370    10,871 
Accruals 10,889    19,804 
Pension control 221   
Obligations under HP/Financial Leases 17,985   
Customer deposits 50,898    45,727 
Directors' Current Accounts 505    520 
VAT 32,029    42,415 
135,398    151,472 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 50,230   
50,230   

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 106,950    96,654 
106,950    96,654 

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 A Ordinary shares of £1.00 each 100    100 
5 Class B shares of £1.00 each  
105    105 

11.

Controlling Party

The company is a wholly owned subsidiary of SKLaycock Limited. The parent's registered office and principal place of business is Home Farm Cheddar Road, Clewer, Wedmore, England, BS28 4JE.

SKLaycock Limited is owned by Steven Laycock and Katherine Laycock who are considered to be the ultimate controlling party of Abbas Marquees Limited.
2