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COMPANY REGISTRATION NUMBER: 06800414
Abbey Prestige Homes Ltd
Filleted Unaudited Financial Statements
31 January 2024
Abbey Prestige Homes Ltd
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Current assets
Stocks
210,000
210,000
Debtors
4
38,679
184,448
Cash at bank and in hand
129
1,113
---------
---------
248,808
395,561
Creditors: amounts falling due within one year
5
33,012
177,524
---------
---------
Net current assets
215,796
218,037
---------
---------
Total assets less current liabilities
215,796
218,037
Creditors: amounts falling due after more than one year
6
207,991
207,046
---------
---------
Net assets
7,805
10,991
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
7,705
10,891
-------
--------
Shareholders funds
7,805
10,991
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Abbey Prestige Homes Ltd
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr P Woodman
Director
Company registration number: 06800414
Abbey Prestige Homes Ltd
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260/268 Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Debtors
2024
2023
£
£
Trade debtors
38,679
184,448
--------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
30,166
35,336
Other creditors
2,846
142,188
--------
---------
33,012
177,524
--------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
207,991
207,046
---------
---------
7. Related party transactions
At the year end the company was owed £20,276 from Abbey Prestige Lettings Ltd and £18,403 from Abbey Prestige Homes ( NW ) Ltd . The companies are related by common ownership and control. At the 31 January 2024 the company owed to its directors £1,542 (2023-£40,792).