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REGISTERED NUMBER: 06966482 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Ability It Services Ltd

Ability It Services Ltd (Registered number: 06966482)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ability It Services Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M R O'Grady
D L Atkin
S Ford





SECRETARY:





REGISTERED OFFICE: Strata House
300 Hawthorne Avenue
Kingston upon Hull
East Yorkshire
HU3 5LL





REGISTERED NUMBER: 06966482 (England and Wales)





ACCOUNTANTS: Andrew Cooper & Company
Chartered Accountants
650 Anlaby Road
Kingston upon Hull
East Yorkshire
HU3 6UU

Ability It Services Ltd (Registered number: 06966482)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,408 33,942

CURRENT ASSETS
Stocks 24,920 27,320
Debtors 5 150,873 172,326
Cash at bank and in hand 24,310 35,493
200,103 235,139
CREDITORS
Amounts falling due within one year 6 124,038 130,261
NET CURRENT ASSETS 76,065 104,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,473

138,820

CREDITORS
Amounts falling due after more than one
year

7

32,657

40,806
NET ASSETS 72,816 98,014

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 72,516 97,714
SHAREHOLDERS' FUNDS 72,816 98,014

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ability It Services Ltd (Registered number: 06966482)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:




M R O'Grady - Director



D L Atkin - Director


Ability It Services Ltd (Registered number: 06966482)

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

1. STATUTORY INFORMATION

Ability It Services Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

Ability It Services Ltd (Registered number: 06966482)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 56,840
DEPRECIATION
At 1 February 2023 22,898
Charge for year 4,534
At 31 January 2024 27,432
NET BOOK VALUE
At 31 January 2024 29,408
At 31 January 2023 33,942

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 99,228 105,214
Amounts owed by group undertakings 891 5,900
Other debtors 50,754 61,212
150,873 172,326

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 2,595 2,595
Trade creditors 52,460 61,475
Taxation and social security 61,427 58,635
Other creditors 2,000 2,000
124,038 130,261

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 29,630 35,185
Hire purchase contracts 3,027 5,621
32,657 40,806

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M R O'Grady.