Company registration number 10956782 (England and Wales)
ABOS INSTALLATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ABOS INSTALLATIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ABOS INSTALLATIONS LTD
BALANCE SHEET
AS AT
28 SEPTEMBER 2022
28 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,785
3,713
Current assets
Debtors
4
62,859
54,642
Cash at bank and in hand
4,640
8,913
67,499
63,555
Creditors: amounts falling due within one year
5
(98,851)
(64,708)
Net current liabilities
(31,352)
(1,153)
Total assets less current liabilities
(28,567)
2,560
Creditors: amounts falling due after more than one year
6
(21,597)
(27,889)
Net liabilities
(50,164)
(25,329)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(50,264)
(25,429)
Total equity
(50,164)
(25,329)
For the financial year ended 28 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 19 September 2024
Mr C A Abbott
Director
Company registration number 10956782 (England and Wales)
ABOS INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information
ABOS Installations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 13 George Street, Rishton, Blackburn, Lancashire, BB1 4JF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is reliant upon the financial support of its director in order to meet its liabilities as they fall due. The director has indicated that this support will continue for the foreseeable future and, as a result, has continued to adopt the going concern basis in preparing the financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% reducing balance
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ABOS INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Motor vehicles
£
Cost
At 29 September 2021 and 28 September 2022
9,500
Depreciation and impairment
At 29 September 2021
5,787
Depreciation charged in the year
928
At 28 September 2022
6,715
Carrying amount
At 28 September 2022
2,785
At 28 September 2021
3,713
ABOS INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2022
- 4 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Corporation tax recoverable
15,559
13,485
Other debtors
47,300
41,157
62,859
54,642
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
6,293
4,611
Trade creditors
21,737
4,143
Corporation tax
18,027
15,953
Other taxation and social security
48,460
36,135
Other creditors
4,334
3,866
98,851
64,708
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
21,597
27,889
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Directors' transactions
During the year the company operated a loan account with the director. At the balance sheet date the company was owed £47,300 (2021 - £41,157). The maximum overdrawn balance on this loan account during the year was £47,300. Interest has been charged on the overdrawn amount at a rate of 2%.