Abacus Solutions Development Ltd Filleted Accounts Cover
Abacus Solutions Development Ltd
Company No. 06003555
Information for Filing with The Registrar
31 December 2023
Abacus Solutions Development Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was that of applied technology services.
Director
The Director who served at any time during the year was as follows:
S. Butler
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
S. Butler
Director
21 August 2024
Abacus Solutions Development Ltd Balance Sheet Registrar
at
31 December 2023
Company No.
06003555
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
453-
453-
Current assets
Debtors
5
3,637,4383,638,304
Cash at bank and in hand
17,15622,199
3,654,5943,660,503
Creditors: Amount falling due within one year
6
(7,992,048)
(7,235,959)
Net current liabilities
(4,337,454)
(3,575,456)
Total assets less current liabilities
(4,337,001)
(3,575,456)
Net liabilities
(4,337,000)
(3,575,456)
Capital and reserves
Called up share capital
1,0001,000
Profit and loss account
8
(4,338,000)
(3,576,456)
Total equity
(4,337,000)
(3,575,456)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 21 August 2024 and signed on its behalf by:
S. Butler
Director
21 August 2024
Abacus Solutions Development Ltd Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Abacus Solutions Development Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 06003555
Its registered office is:
1 The Courtyard
Chalvington
East Sussex
BN27 3YD
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20% on cost
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
55
4
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 January 2023
10,97810,978
Additions
566566
At 31 December 2023
11,54411,544
Depreciation
At 1 January 2023
10,97810,978
Charge for the year
113113
At 31 December 2023
11,09111,091
Net book values
At 31 December 2023
453453
At 31 December 2022
-
-
5
Debtors
2023
2022
£
£
Amounts owed by group undertakings
3,629,5093,623,605
Other debtors
7,92914,699
3,637,4383,638,304
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
48-
Trade creditors
88,71093,331
Amounts owed to group undertakings
7,880,491
7,140,644
Taxes and social security
22,799
1,984
7,992,0487,235,959
7
Share Capital
1000 ordinary £1 shares
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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