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REGISTERED NUMBER: 04599110 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ABL RESOURCES LIMITED

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABL RESOURCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: K Rana





SECRETARY: S Morgan





REGISTERED OFFICE: Ground Floor
Finchale House
Belmont Business Park
Durham
DH1 1TW





REGISTERED NUMBER: 04599110 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,248 284
Investments 5 40 40
4,288 324

CURRENT ASSETS
Debtors 6 127,072 178,101
Cash at bank 30,007 12,215
157,079 190,316
CREDITORS
Amounts falling due within one year 7 90,632 54,797
NET CURRENT ASSETS 66,447 135,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,735

135,843

CREDITORS
Amounts falling due after more than one
year

8

(19,093

)

(24,963

)

PROVISIONS FOR LIABILITIES (1,062 ) (71 )
NET ASSETS 50,580 110,809

CAPITAL AND RESERVES
Called up share capital 10 54 54
Retained earnings 50,526 110,755
SHAREHOLDERS' FUNDS 50,580 110,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





K Rana - Director


ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

ABL Resources Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

In respect of turnover arising from contractual arrangement, income is attributed to the profit and loss account as contractual activity progresses in a manner appropriate to the stage of completion of each individual contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Collection division - 20% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 33,524
Additions 6,339
Disposals (33,524 )
At 31 December 2023 6,339
DEPRECIATION
At 1 January 2023 33,240
Charge for year 2,092
Eliminated on disposal (33,241 )
At 31 December 2023 2,091
NET BOOK VALUE
At 31 December 2023 4,248
At 31 December 2022 284

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 6,339
At 31 December 2023 6,339
DEPRECIATION
Charge for year 2,092
At 31 December 2023 2,092
NET BOOK VALUE
At 31 December 2023 4,247

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 40
NET BOOK VALUE
At 31 December 2023 40
At 31 December 2022 40

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ABL Resources Property Management Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 40 40

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 127,072 120,649
Other debtors - 57,452
127,072 178,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,149 9,894
Finance leases 1,902 -
Trade creditors 4,954 3,573
Taxation and social security 69,721 37,561
Other creditors 3,906 3,769
90,632 54,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,814 24,963
Finance leases 4,279 -
19,093 24,963

ABL RESOURCES LIMITED (REGISTERED NUMBER: 04599110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance Lease 6,180 -

Secured on the assets to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
15 Ordinary £1.00 15 15
15 A £1.00 15 15
12 B £1.00 12 12
6 C £1.00 6 6
6 D £1.00 6 6
54 54

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
K Rana
Balance outstanding at start of year 21,155 -
Amounts advanced - 21,155
Amounts repaid (21,155 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 21,155

The above loan account was repaid on 30 June 2023 with no balance outstanding at 31 December 2023.

12. RELATED PARTY DISCLOSURES

During the period the director made an interest free loan to the company. As at 31 December 2023 the balance on the loan was £27.

During the year, the company provided services to ABL Resources Inc, a company resident in the USA, and related by the way of common control. The engagement was conducted on third party terms. The amount invoiced in the period was £217,249 (2022: £241,859). Amounts paid were partly offset against business expenses incurred by the Inc on behalf of the UK company in the year. A total of £127,072 (2022: £120,649) was due from the Inc at the year end which is included in trade debtors.