Registered number
SC724930
Abodo Contractors Ltd
Filleted Accounts
31 March 2024
Abodo Contractors Ltd
Registered number: SC724930
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 42,085 30,305
Current assets
Debtors 4 13,627 -
Cash at bank and in hand 22,619 23,495
36,246 23,495
Creditors: amounts falling due within one year 5 (12,146) (16,438)
Net current assets 24,100 7,057
Total assets less current liabilities 66,185 37,362
Creditors: amounts falling due after more than one year 6 (22,612) (26,898)
Net assets 43,573 10,464
Capital and reserves
Called up share capital 100 100
Profit and loss account 43,473 10,364
Shareholder's funds 43,573 10,464
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Robertson
Director
Approved by the board on 30 August 2024
Abodo Contractors Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 10,235 28,234 38,469
Additions 21,844 - 21,844
At 31 March 2024 32,079 28,234 60,313
Depreciation
At 1 April 2023 1,105 7,059 8,164
Charge for the year 4,770 5,294 10,064
At 31 March 2024 5,875 12,353 18,228
Net book value
At 31 March 2024 26,204 15,881 42,085
At 31 March 2023 9,130 21,175 30,305
4 Debtors 2024 2023
£ £
Trade debtors 5,963 -
Other debtors 7,664 -
13,627 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 5,863
Taxation and social security costs 11,446 9,655
Other creditors 700 920
12,146 16,438
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,000 10,000
Obligations under finance lease and hire purchase contracts - 5,057
Director's account 16,612 11,841
22,612 26,898
7 Other information
Abodo Contractors Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
52 Glenbervie Road
Kirkcaldy
Fife
KY2 6XT
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