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REGISTERED NUMBER: 01611910 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ABDEX HOSE & COUPLINGS LIMITED

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABDEX HOSE & COUPLINGS LIMITED

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTORS: Mr N S Dixon
Mr O J C Bain
Mr D C Bain





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Unit 10a Clarke Road
Bletchley
Milton Keynes
Buckinghamshire
MK1 1LG





REGISTERED NUMBER: 01611910 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,406 156,264

CURRENT ASSETS
Stocks 5 826,662 790,125
Debtors 6 849,723 766,486
Cash at bank and in hand 800,864 390,254
2,477,249 1,946,865
CREDITORS
Amounts falling due within one year 7 1,020,463 679,856
NET CURRENT ASSETS 1,456,786 1,267,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,628,192

1,423,273

CREDITORS
Amounts falling due after more than one
year

8

-

(488

)

PROVISIONS FOR LIABILITIES 11 (42,852 ) (39,066 )
NET ASSETS 1,585,340 1,383,719

CAPITAL AND RESERVES
Called up share capital 1,112 1,112
Retained earnings 1,584,228 1,382,607
1,585,340 1,383,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

BALANCE SHEET - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by:




Mr O J C Bain - Director



Mr D C Bain - Director


ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Abdex Hose & Couplings Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on disposal of an asset is determined at the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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 Statement of Income and Retained Earnings, 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.


ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 223,326 60,838 67,254 351,418
Additions 13,595 44,930 - 58,525
Disposals (3,458 ) (4,779 ) - (8,237 )
At 29 February 2024 233,463 100,989 67,254 401,706
DEPRECIATION
At 1 March 2023 127,762 36,814 30,578 195,154
Charge for year 23,097 11,117 9,169 43,383
Eliminated on disposal (3,458 ) (4,779 ) - (8,237 )
At 29 February 2024 147,401 43,152 39,747 230,300
NET BOOK VALUE
At 29 February 2024 86,062 57,837 27,507 171,406
At 28 February 2023 95,564 24,024 36,676 156,264

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 44,254
Transfer to ownership (27,345 )
At 29 February 2024 16,909
DEPRECIATION
At 1 March 2023 20,517
Charge for year 5,935
Transfer to ownership (19,054 )
At 29 February 2024 7,398
NET BOOK VALUE
At 29 February 2024 9,511
At 28 February 2023 23,737

5. STOCKS
2024 2023
£    £   
Stocks 826,662 790,125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 816,234 746,599
Other debtors 33,489 19,887
849,723 766,486

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 488 11,108
Trade creditors 537,629 311,713
Corporation tax 105,207 69,893
Taxation and social security 16,210 20,156
VAT 76,428 43,296
Directors' loan accounts 6,944 7,483
Accrued expenses 277,557 216,207
1,020,463 679,856

ABDEX HOSE & COUPLINGS LIMITED (REGISTERED NUMBER: 01611910)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) - 488

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 488 11,108
Between one and five years - 488
488 11,596

Non-cancellable operating leases
2024 2023
£    £   
Within one year 94,500 75,000
Between one and five years 378,000 -
472,500 75,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 488 11,596

The amounts included in hire purchase are secured against the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 42,852 39,066

Deferred
tax
£   
Balance at 1 March 2023 39,066
Provided during year 3,786
Balance at 29 February 2024 42,852