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REGISTERED NUMBER: 07112883 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

APPROVED BUSINESS LIMITED

APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


APPROVED BUSINESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A J Pearce





REGISTERED OFFICE: Highweald View
Weald Ridge
Ticehurst
East Sussex
TN5 7HT





REGISTERED NUMBER: 07112883 (England and Wales)





ACCOUNTANTS: Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ

APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,000 7,000
Tangible assets 5 21,853 27,893
37,853 34,893

CURRENT ASSETS
Debtors 6 121,151 130,918
Cash at bank 201,520 175,180
322,671 306,098
CREDITORS
Amounts falling due within one year 7 95,085 82,889
NET CURRENT ASSETS 227,586 223,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,439

258,102

CREDITORS
Amounts falling due after more than one
year

8

(9,515

)

(14,953

)

PROVISIONS FOR LIABILITIES (3,397 ) (854 )
NET ASSETS 252,527 242,295

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 252,525 242,293
SHAREHOLDERS' FUNDS 252,527 242,295

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

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

APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

BALANCE SHEET - continued
31 DECEMBER 2023


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 27 August 2024 and were signed by:





A J Pearce - Director


APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Approved Business 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of 20 years.

Goodwill, being the amount paid in connection with the acquisition of the trade and assets of a business in 2023, is being amortised evenly over its estimated useful life of 5 years.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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 etc - 33% on cost, 20% on cost and Amortised over period of lease

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.

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.

APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 20,000 - 20,000
Additions 1,380 11,120 12,500
At 31 December 2023 21,380 11,120 32,500
AMORTISATION
At 1 January 2023 13,000 - 13,000
Charge for year 1,276 2,224 3,500
At 31 December 2023 14,276 2,224 16,500
NET BOOK VALUE
At 31 December 2023 7,104 8,896 16,000
At 31 December 2022 7,000 - 7,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 92,853
Additions 2,813
At 31 December 2023 95,666
DEPRECIATION
At 1 January 2023 64,960
Charge for year 8,853
At 31 December 2023 73,813
NET BOOK VALUE
At 31 December 2023 21,853
At 31 December 2022 27,893

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 112,447 123,531
Other debtors 8,704 7,387
121,151 130,918

APPROVED BUSINESS LIMITED (REGISTERED NUMBER: 07112883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases (see note 9) 5,437 5,437
Trade creditors 26,046 29,977
Taxation and social security 58,468 42,823
Other creditors 5,134 4,652
95,085 82,889

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Finance leases (see note 9) 9,515 14,953

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Gross obligations repayable:
Within one year 8,213 8,213
Between one and five years 14,373 22,587
22,586 30,800

Finance charges repayable:
Within one year 2,776 2,776
Between one and five years 4,858 7,634
7,634 10,410

Net obligations repayable:
Within one year 5,437 5,437
Between one and five years 9,515 14,953
14,952 20,390

Non-cancellable operating leases
2023 2022
£    £   
Within one year 10,960 10,960
Between one and five years 8,220 19,180
19,180 30,140

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2