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REGISTERED NUMBER: 06853960 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

1st Ability Limited

1st Ability Limited (Registered number: 06853960)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


1st Ability Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: C H Hughes





REGISTERED OFFICE: Pure Offices
4100 Park Approach
Thorpe Park
Leeds
LS15 8GB





REGISTERED NUMBER: 06853960 (England and Wales)





ACCOUNTANTS: The Sanders Partnership
Chartered Accountants
19 King Street
The Civic Quarter
Wakefield
West Yorkshire
WF1 2SQ

1st Ability Limited (Registered number: 06853960)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,691 32,404

CURRENT ASSETS
Debtors 5 124,370 107,137
Cash at bank - 1,180
124,370 108,317
CREDITORS
Amounts falling due within one year 6 73,037 64,632
NET CURRENT ASSETS 51,333 43,685
TOTAL ASSETS LESS CURRENT LIABILITIES 77,024 76,089

CREDITORS
Amounts falling due after more than one year 7 (72,686 ) (77,589 )

PROVISIONS FOR LIABILITIES (4,111 ) (249 )
NET ASSETS/(LIABILITIES) 227 (1,749 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 224 (1,752 )
227 (1,749 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 20 August 2024 and were signed by:





C H Hughes - Director


1st Ability Limited (Registered number: 06853960)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

1st Ability 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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

Provisions
Provisions are only set up where it is probable that a present obligation exists as a result of an event prior to the balance sheet and that a payment will be required in settlement that can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

1st Ability Limited (Registered number: 06853960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 190 48,664 5,582 54,436
Additions 5,850 - - 5,850
Disposals - - (1,334 ) (1,334 )
At 31 March 2023 6,040 48,664 4,248 58,952
DEPRECIATION
At 1 April 2022 156 17,573 4,303 22,032
Charge for year 9 12,166 297 12,472
Eliminated on disposal - - (1,243 ) (1,243 )
At 31 March 2023 165 29,739 3,357 33,261
NET BOOK VALUE
At 31 March 2023 5,875 18,925 891 25,691
At 31 March 2022 34 31,091 1,279 32,404

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 96,524 41,221
Other debtors 27,846 65,916
124,370 107,137

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,099 6,540
Trade creditors 39,055 41,753
Taxation and social security 10,745 3,358
Other creditors 14,138 12,981
73,037 64,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 50,216 49,575
Other creditors 22,470 28,014
72,686 77,589

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 50,216 -

1st Ability Limited (Registered number: 06853960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
C H Hughes
Balance outstanding at start of year 2,076 -
Amounts advanced 10,092 2,076
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,168 2,076

This loan is repayable on demand and interest of 2% has been charged.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company has a loan owed by a related party of £1,618 (2022 - £41,613) included within other debtors. Interest of £428 (2022 - £942) has also been charged by the company on this related party loan at 2% per annum.