Company No:
Contents
Note | 29.02.2024 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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1,351 | ||
Current assets | ||
Debtors | 4 |
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Cash at bank and in hand |
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10,086 | ||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (11,846) | |
Total assets less current liabilities | (10,495) | |
Net liabilities | (
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Capital and reserves | ||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of ABT People Ltd (registered number:
M Tyler
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
ABT People Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Laurel Cottage, Howe Green, Hertford, SG13 8LH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £10,495. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Office equipment |
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Computer equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Period from 06.02.2023 to 29.02.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Office equipment | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 06 February 2023 |
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Additions |
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At 29 February 2024 |
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Accumulated depreciation | |||||
At 06 February 2023 |
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Charge for the financial period |
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At 29 February 2024 |
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Net book value | |||||
At 29 February 2024 |
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29.02.2024 | |
£ | |
Deferred tax asset |
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29.02.2024 | |
£ | |
Trade creditors |
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Amounts owed to directors |
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Other taxation and social security |
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29.02.2024 | |
£ | |
At the beginning of financial period |
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Credited to the Profit and Loss Account |
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At the end of financial period |
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The deferred taxation balance is made up as follows:
29.02.2024 | |
£ | |
Accelerated capital allowances | (
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Tax losses carry forward |
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29.02.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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At the period end, the Company owed the directors £19,396. The loan is interest-free and there is no fixed date for repayment.