Registered number
11216188
ABSOLUTE BODY SOLUTIONS MANCHESTER CITY CENTRE LIMITED
Unaudited Filleted Accounts
31 December 2023
ABSOLUTE BODY SOLUTIONS MANCHESTER CITY CENTRE LIMITED
Registered number: 11216188
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,077 42,897
Current assets
Debtors 4 44,381 37,446
Cash at bank and in hand 3,465 4,889
47,846 42,335
Creditors: amounts falling due within one year 5 (59,928) (54,227)
Net current liabilities (12,082) (11,892)
Total assets less current liabilities 15,995 31,005
Creditors: amounts falling due after more than one year 6 (21,558) (30,997)
Net (liabilities)/assets (5,563) 8
Capital and reserves
Called up share capital 100 100
Profit and loss account (5,663) (92)
Shareholder's funds (5,563) 8
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.
C O'Brien
Director
Approved by the board on 16 September 2024
ABSOLUTE BODY SOLUTIONS MANCHESTER CITY CENTRE LIMITED
Notes to the Accounts
for the year ended 31 December 2023
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures,fittings, tools and equipment
£
Cost
At 1 January 2023 75,399
Additions 274
At 31 December 2023 75,673
Depreciation
At 1 January 2023 32,502
Charge for the year 15,094
At 31 December 2023 47,596
Net book value
At 31 December 2023 28,077
At 31 December 2022 42,897
4 Debtors 2023 2022
£ £
Other debtors 44,381 37,446
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 13,940 13,932
Taxation and social security costs 5,126 3,830
Other creditors 40,862 36,465
59,928 54,227
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,558 30,997
7 Contingent liabilities
The company has entered into a full repair and maintenance lease on it's trading premises. Upon expiry of the lease the company will be subject to a dilapidations claim from the landlord in order to put the building back in it's original state. This amount has been reasonably estimated at £66,100 and has been recognised as a contingent liability by the company.
8 Other information
ABSOLUTE BODY SOLUTIONS MANCHESTER CITY CENTRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
300 St. Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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