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REGISTERED NUMBER: 00972502 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

A.B.S. (Burton) Limited

A.B.S. (Burton) Limited (Registered number: 00972502)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.B.S. (Burton) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr R Culbert
Mrs B M Culbert
Mr I R Culbert
Mrs K M Williams





SECRETARY: Mrs B M Culbert





REGISTERED OFFICE: Unit 1 Northgate
Aldridge
Walsall
West Midlands
WS9 8TH





REGISTERED NUMBER: 00972502 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

A.B.S. (Burton) Limited (Registered number: 00972502)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 237,164 177,126
237,164 177,126

CURRENT ASSETS
Stocks 1,032,597 1,202,163
Debtors 6 1,135,503 1,089,863
Cash at bank and in hand 981,745 957,689
3,149,845 3,249,715
CREDITORS
Amounts falling due within one year 7 1,056,409 1,029,355
NET CURRENT ASSETS 2,093,436 2,220,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,330,600

2,397,486

PROVISIONS FOR LIABILITIES 49,124 32,578
NET ASSETS 2,281,476 2,364,908

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,281,376 2,364,808
SHAREHOLDERS' FUNDS 2,281,476 2,364,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A.B.S. (Burton) Limited (Registered number: 00972502)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mr I R Culbert - Director


A.B.S. (Burton) Limited (Registered number: 00972502)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

A.B.S. (Burton) 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. Turnover from the provision of goods and services are recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Alterations to property14 years straight line
Plant and machinery15% reducing balance
Computers33.3% straight line
Motor vehicles25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


A.B.S. (Burton) Limited (Registered number: 00972502)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 50,000
AMORTISATION
At 1 February 2023
and 31 January 2024 50,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

A.B.S. (Burton) Limited (Registered number: 00972502)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Alterations
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 160,395 331,546 274,090 43,378 809,409
Additions - 723 98,740 - 99,463
At 31 January 2024 160,395 332,269 372,830 43,378 908,872
DEPRECIATION
At 1 February 2023 128,836 308,217 151,852 43,378 632,283
Charge for year 5,228 18,917 15,280 - 39,425
At 31 January 2024 134,064 327,134 167,132 43,378 671,708
NET BOOK VALUE
At 31 January 2024 26,331 5,135 205,698 - 237,164
At 31 January 2023 31,559 23,329 122,238 - 177,126

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,061,363 1,026,279
Other debtors 74,140 63,584
1,135,503 1,089,863

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 797,294 829,756
Taxation and social security 107,721 123,778
Other creditors 151,394 75,821
1,056,409 1,029,355

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 110,638 110,638

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

A.B.S. (Burton) Limited (Registered number: 00972502)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr I R Culbert
Balance outstanding at start of year 24,790 51,281
Amounts advanced 63,422 48,709
Amounts repaid (62,500 ) (75,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,712 24,790

Mrs K M Williams
Balance outstanding at start of year 11,479 12,628
Amounts advanced 42,585 43,851
Amounts repaid (37,500 ) (45,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,564 11,479