Company Registration No. 9245183 (England and Wales)
Abacusorange Limited
Unaudited accounts
for the period from 1 November 2022 to 30 October 2023
Abacusorange Limited
Unaudited accounts
Contents
Abacusorange Limited
Company Information
for the period from 1 November 2022 to 30 October 2023
Directors
James Coleman
Lawrence Kendall
Company Number
9245183 (England and Wales)
Registered Office
REGENT HOUSE FOLDS POINT
FOLDS ROAD
BOLTON
GREATER MANCHESTER
BL1 2RZ
ENGLAND
Accountants
Xeinadin Group
Regent House
Folds Road
Bolton
BL1 2RZ
Abacusorange Limited
Statement of financial position
as at 30 October 2023
Tangible assets
6,451
8,601
Cash at bank and in hand
826
1,396
Creditors: amounts falling due within one year
(44,615)
(39,283)
Net current liabilities
(41,789)
(37,887)
Net liabilities
(35,338)
(29,286)
Called up share capital
100
100
Profit and loss account
(35,438)
(29,386)
Shareholders' funds
(35,338)
(29,286)
For the period ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by
Lawrence Kendall
Director
Company Registration No. 9245183
Abacusorange Limited
Notes to the Accounts
for the period from 1 November 2022 to 30 October 2023
Abacusorange Limited is a private company, limited by shares, registered in England and Wales, registration number 9245183. The registered office is REGENT HOUSE FOLDS POINT, FOLDS ROAD, BOLTON, GREATER MANCHESTER, BL1 2RZ, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Abacusorange Limited
Notes to the Accounts
for the period from 1 November 2022 to 30 October 2023
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Tangible fixed assets
Total
Charge for the period
2,150
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Average number of employees
During the period the average number of employees was 2 (2022: 2).