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ABERCOL LTD

Registered Number
SC648713
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

ABERCOL LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

PHILLIP, Colin Murray

Company Secretary

PHILLIP, Colin Murray

Registered Address

10 Balnellan Place
Braemar
Ballater
AB35 5YZ

Registered Number

SC648713 (Scotland)
ABERCOL LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets355,15988,087
55,15988,087
Current assets
Debtors45,245144,666
Cash at bank and on hand19,09326,256
64,338170,922
Creditors amounts falling due within one year4(55,755)(106,647)
Net current assets (liabilities)8,58364,275
Total assets less current liabilities63,742152,362
Creditors amounts falling due after one year5(5,295)(10,802)
Net assets58,447141,560
Capital and reserves
Called up share capital11
Profit and loss account58,446141,559
Shareholders' funds58,447141,560
The financial statements were approved and authorised for issue by the Director on 18 September 2024, and are signed on its behalf by:
PHILLIP, Colin Murray
Director
Registered Company No. SC648713
ABERCOL LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles20
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 233,064109,3235478,549121,483
Additions190--218408
Disposals-(29,400)(547)-(29,947)
At 31 December 233,25479,923-8,76791,944
Depreciation and impairment
At 01 January 2358029,154-3,66233,396
Charge for year48015,406-1,22317,109
On disposals-(13,720)--(13,720)
At 31 December 231,06030,840-4,88536,785
Net book value
At 31 December 232,19449,083-3,88255,159
At 31 December 222,48480,1695474,88788,087
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables26,54713,907
Bank borrowings and overdrafts9,7847,866
Taxation and social security19,42484,874
Total55,755106,647
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.
5.Creditors: amounts due after one year

2023

2022

££
Other creditors5,29510,802
Total5,29510,802
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts5,29510,802