Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-06falseSale of used cars and maintenance and repair of motor vehicles5falsetruefalse 14707409 2023-03-05 14707409 2023-03-06 2024-03-31 14707409 2022-03-06 2023-03-05 14707409 2024-03-31 14707409 c:Director1 2023-03-06 2024-03-31 14707409 d:PlantMachinery 2023-03-06 2024-03-31 14707409 d:PlantMachinery 2024-03-31 14707409 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-06 2024-03-31 14707409 d:MotorVehicles 2023-03-06 2024-03-31 14707409 d:MotorVehicles 2024-03-31 14707409 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-06 2024-03-31 14707409 d:OfficeEquipment 2023-03-06 2024-03-31 14707409 d:OfficeEquipment 2024-03-31 14707409 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-06 2024-03-31 14707409 d:OwnedOrFreeholdAssets 2023-03-06 2024-03-31 14707409 d:Goodwill 2023-03-06 2024-03-31 14707409 d:Goodwill 2024-03-31 14707409 d:CurrentFinancialInstruments 2024-03-31 14707409 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14707409 d:ShareCapital 2024-03-31 14707409 d:RetainedEarningsAccumulatedLosses 2024-03-31 14707409 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 14707409 c:FRS102 2023-03-06 2024-03-31 14707409 c:AuditExemptWithAccountantsReport 2023-03-06 2024-03-31 14707409 c:FullAccounts 2023-03-06 2024-03-31 14707409 c:PrivateLimitedCompanyLtd 2023-03-06 2024-03-31 14707409 d:WithinOneYear 2024-03-31 14707409 d:BetweenOneFiveYears 2024-03-31 14707409 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-03-06 2024-03-31 14707409 2 2023-03-06 2024-03-31 14707409 d:Goodwill d:OwnedIntangibleAssets 2023-03-06 2024-03-31 14707409 e:PoundSterling 2023-03-06 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 14707409










ABC MINOR LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
ABC MINOR LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABC MINOR LTD
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ABC Minor Ltd for the period ended 31 March 2024 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of ABC Minor Ltd, as a body, in accordance with the terms of our engagement letter dated 6th March 2023Our work has been undertaken solely to prepare for your approval the financial statements of ABC Minor Ltd and state those matters that we have agreed to state to the Board of directors of ABC Minor Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABC Minor Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that ABC Minor Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ABC Minor Ltd. You consider that ABC Minor Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of ABC Minor Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
13 September 2024
Page 1

 
ABC MINOR LTD
REGISTERED NUMBER: 14707409

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
£

Fixed assets
  

Intangible assets
  
18,000

Tangible assets
  
10,850

  
28,850

Current assets
  

Stocks
  
800

Debtors: amounts falling due within one year
  
20,851

Cash at bank and in hand
  
9,854

  
31,505

Creditors: amounts falling due within one year
  
(36,617)

Net current (liabilities)/assets
  
 
 
(5,112)

Total assets less current liabilities
  
23,738

Provisions for liabilities
  

Deferred tax
  
(1,399)

  
 
 
(1,399)

Net assets
  
22,339


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
22,338

  
22,339

Page 2

 
ABC MINOR LTD
REGISTERED NUMBER: 14707409
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.




R Daniells
Director

The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

The company is a private company, limited by shares and registered in England.
Its registered number is:
Its Registered Oiffce is:
Unit 5 Whittle Way
Arlington Business Park
Stevenage
Hertfordshire
SG1 2BD

Page 7

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the period was 5.


4.


Intangible assets



Goodwill

£



Cost


Additions
20,000



At 31 March 2024

20,000



Amortisation


Charge for the period on owned assets
2,000



At 31 March 2024

2,000



Net book value



At 31 March 2024
18,000




5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


Additions
10,142
3,706
692
14,540



At 31 March 2024

10,142
3,706
692
14,540



Depreciation


Charge for the period on owned assets
2,535
927
228
3,690



At 31 March 2024

2,535
927
228
3,690



Net book value



At 31 March 2024
7,607
2,779
464
10,850
Page 8

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

2024
£


Trade debtors
19,550

Prepayments and accrued income
1,301

20,851



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
9,854

9,854



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
4,908

Corporation tax
4,962

Other taxation and social security
15,578

Other creditors
9,369

Accruals and deferred income
1,800

36,617



9.


Deferred taxation



2024


£






Charged to profit or loss
(1,399)



At end of year
(1,399)

Page 9

 
ABC MINOR LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
(1,399)

(1,399)


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,083. Contributions totalling £636 were payable to the fund at the reporting date and are included in creditors.


11.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
28,336

Later than 1 year and not later than 5 years
28,336

56,672


12.


Related party transactions

The amount due to the director at the reporting date, and included within other creditors, was £24,082. This loan does not attract a rate of interest and is repayable on demand.

 
Page 10