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COMPANY REGISTRATION NUMBER: 03689226
ABSR Holdings Limited
Filleted Unaudited Abridged Financial Statements
31 January 2024
ABSR Holdings Limited
Abridged Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
1,000
1,000
Current assets
Debtors
25,200
25,200
--------
--------
Net current assets
25,200
25,200
--------
--------
Total assets less current liabilities
26,200
26,200
--------
--------
Capital and reserves
Called up share capital
5
26,200
26,200
--------
--------
Shareholders funds
26,200
26,200
--------
--------
These abridged 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 abridged 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
B.B. Adams
Director
Company registration number: 03689226
ABSR Holdings Limited
Notes to the Abridged 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 17 Rosemary Hill Road, Sutton Coldfield, B74 4HL.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements, estimates and assumptions have had to be made by the directors in preparing these financial statements .
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
£
Cost
At 1 February 2023 and 31 January 2024
1,000
-------
Impairment
At 1 February 2023 and 31 January 2024
-------
Carrying amount
At 31 January 2024
1,000
-------
At 31 January 2023
1,000
-------
5. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
'A' ordinary shares of £ 1 each
100
100
100
100
'B' ordinary shares of £ 1 each
100
100
100
100
Preferred ordinary shares of £ 1 each
25,000
25,000
25,000
25,000
--------
--------
--------
--------
26,200
26,200
26,200
26,200
--------
--------
--------
--------
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
'A' ordinary shares of £ 1 each
100
100
100
100
'B' ordinary shares of £ 1 each
100
100
100
100
Preferred ordinary shares of £ 1 each
25,000
25,000
25,000
25,000
--------
--------
--------
--------
26,200
26,200
26,200
26,200
--------
--------
--------
--------
The preferred ordinary shares are not redeemable, carry no voting rights and are entitled to receive a dividend on 6p per share in any year in which a dividend is paid on the other ordinary shares. These shares carry the right to a repayment of their nominal value ahead of the other ordinary shares in the event of a sale of the company or on winding up.
6. Related party transactions
At 31 January 2024 the company had outstanding loans due to subsidiaries of £25,200 (2023: £25,200) included in debtors. All related party loans are interest-free and repayable on demand.