Registered number
10616213
Abacus Window Cleaning Limited
Unaudited Filleted Accounts
31 March 2024
Abacus Window Cleaning Limited
Registered number: 10616213
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 38,179 7,863
Tangible assets 4 145,384 76,947
183,563 84,810
Current assets
Debtors 5 66,033 17,283
Cash at bank and in hand 47,528 156,375
113,561 173,658
Creditors: amounts falling due within one year 6 (187,440) (156,397)
Net current (liabilities)/assets (73,879) 17,261
Total assets less current liabilities 109,684 102,071
Creditors: amounts falling due after more than one year 7 (46,522) (61,216)
Provisions for liabilities (19,236) (19,236)
Net assets 43,926 21,619
Capital and reserves
Called up share capital 160 160
Profit and loss account 43,766 21,459
Shareholders' funds 43,926 21,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Kinsella
Director
Approved by the board on 16 October 2024
Abacus Window Cleaning Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 26,184
Additions 37,558
At 31 March 2024 63,742
Amortisation
At 1 April 2023 18,321
Provided during the year 7,242
At 31 March 2024 25,563
Net book value
At 31 March 2024 38,179
At 31 March 2023 7,863
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 28,805 172,207 201,012
Additions 3,081 134,215 137,296
Disposals - (27,890) (27,890)
At 31 March 2024 31,886 278,532 310,418
Depreciation
At 1 April 2023 23,451 100,614 124,065
Charge for the year 4,434 49,394 53,828
On disposals - (12,859) (12,859)
At 31 March 2024 27,885 137,149 165,034
Net book value
At 31 March 2024 4,001 141,383 145,384
At 31 March 2023 5,354 71,593 76,947
5 Debtors 2024 2023
£ £
Trade debtors 46,157 -
Other debtors 19,876 17,283
66,033 17,283
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,661 8,333
Obligations under finance lease and hire purchase contracts 9,205 11,803
Trade creditors 9,799 3,377
Taxation and social security costs 131,871 114,200
Other creditors 28,904 18,684
187,440 156,397
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,810 30,000
Obligations under finance lease and hire purchase contracts 20,712 31,216
46,522 61,216
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 18,185 25,796
9 Other information
Abacus Window Cleaning Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Cuckoo Crescent
Blackwater
Camberley
Surrey
GU17 0SB
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