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REGISTERED NUMBER: 01445863












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

A & B Industrial Services (North East)
Ltd

A & B Industrial Services (North East)
Ltd (Registered number: 01445863)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A & B Industrial Services (North East)
Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr G P Pringle





REGISTERED OFFICE: Abis House
Dinsdale Place
Sandyford
Newcastle upon Tyne
NE2 1BD





REGISTERED NUMBER: 01445863





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

A & B Industrial Services (North East)
Ltd (Registered number: 01445863)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 73,928 101,711

CURRENT ASSETS
Debtors 6 69,351 133,557
Cash at bank 379,721 278,162
449,072 411,719
CREDITORS
Amounts falling due within one year 7 (200,704 ) (191,552 )
NET CURRENT ASSETS 248,368 220,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,296

321,878

PROVISIONS FOR LIABILITIES (12,573 ) (17,758 )
NET ASSETS 309,723 304,120

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 309,623 304,020
309,723 304,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





Mr G P Pringle - Director


A & B Industrial Services (North East)
Ltd (Registered number: 01445863)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

A & B Industrial Services (North East) Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.


A & B Industrial Services (North East)
Ltd (Registered number: 01445863)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 152,542
Additions 68,944
Disposals (127,205 )
At 31 March 2024 94,281
DEPRECIATION
At 1 April 2023 50,831
Charge for year 24,719
Eliminated on disposal (55,197 )
At 31 March 2024 20,353
NET BOOK VALUE
At 31 March 2024 73,928
At 31 March 2023 101,711

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 69,351 133,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases 10,115 -
Trade creditors 140,046 135,565
Taxation and social security 22,137 12,526
Other creditors 28,406 43,461
200,704 191,552

A & B Industrial Services (North East)
Ltd (Registered number: 01445863)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 10,115 -

The finance lease liability is secured against the assets to which it relates. The net book value of fixed assets held under finance lease at 31 March 2024 was £66,324 (2023 - £Nil).