Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseRETAIL OF STATIONERY86truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04971774 2023-04-01 2024-03-31 04971774 2022-04-01 2023-03-31 04971774 2024-03-31 04971774 2023-03-31 04971774 c:Director3 2023-04-01 2024-03-31 04971774 d:PlantMachinery 2023-04-01 2024-03-31 04971774 d:MotorVehicles 2023-04-01 2024-03-31 04971774 d:MotorVehicles 2024-03-31 04971774 d:MotorVehicles 2023-03-31 04971774 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04971774 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04971774 d:FurnitureFittings 2023-04-01 2024-03-31 04971774 d:FurnitureFittings 2024-03-31 04971774 d:FurnitureFittings 2023-03-31 04971774 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04971774 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04971774 d:ComputerEquipment 2023-04-01 2024-03-31 04971774 d:ComputerEquipment 2024-03-31 04971774 d:ComputerEquipment 2023-03-31 04971774 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04971774 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04971774 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04971774 d:OtherPropertyPlantEquipment 2024-03-31 04971774 d:OtherPropertyPlantEquipment 2023-03-31 04971774 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04971774 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04971774 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04971774 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 04971774 d:Goodwill 2024-03-31 04971774 d:Goodwill 2023-03-31 04971774 d:CurrentFinancialInstruments 2024-03-31 04971774 d:CurrentFinancialInstruments 2023-03-31 04971774 d:Non-currentFinancialInstruments 2024-03-31 04971774 d:Non-currentFinancialInstruments 2023-03-31 04971774 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04971774 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04971774 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04971774 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04971774 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 04971774 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04971774 d:ShareCapital 2024-03-31 04971774 d:ShareCapital 2023-03-31 04971774 c:FRS102 2023-04-01 2024-03-31 04971774 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04971774 c:FullAccounts 2023-04-01 2024-03-31 04971774 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04971774 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 04971774 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04971774 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 04971774 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04971774 2 2023-04-01 2024-03-31 04971774 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 04971774 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 04971774 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 04971774 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 04971774 d:LeasedAssetsHeldAsLessee 2024-03-31 04971774 d:LeasedAssetsHeldAsLessee 2023-03-31 04971774 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04971774









ABACUS REPRO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ABACUS REPRO LIMITED
REGISTERED NUMBER: 04971774

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
54,331
42,994

  
54,331
42,994

Current assets
  

Stocks
 6 
44,980
35,500

Debtors: amounts falling due within one year
 7 
57,555
60,983

Cash at bank and in hand
 8 
959
3,540

  
103,494
100,023

Creditors: amounts falling due within one year
 9 
(99,122)
(81,935)

Net current assets
  
 
 
4,372
 
 
18,088

Total assets less current liabilities
  
58,703
61,082

Creditors: amounts falling due after more than one year
 10 
(58,697)
(61,076)

  

Net assets
  
6
6


Capital and reserves
  

Called up share capital 
  
6
6

  
6
6


Page 1

 
ABACUS REPRO LIMITED
REGISTERED NUMBER: 04971774
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2024.




................................................
Charlie Smith
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Abacus Repro Limited is a private company limited by shares, incorporated in England and Wales. The principal activity of the Company throughout the year was the retail of stationery.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% reducing balance
Motor vehicles
-
15% reducing balance
Fixtures and fittings
-
20% reducing balance
Computer software
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 6).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
(61,500)



At 31 March 2024

(61,500)



Amortisation


At 1 April 2023
(61,500)



At 31 March 2024

(61,500)



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 6

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Plant and machinery
Computer software
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
33,740
4,126
32,863
5,000
75,729


Additions
-
-
18,250
-
18,250



At 31 March 2024

33,740
4,126
51,113
5,000
93,979



Depreciation


At 1 April 2023
19,306
3,453
4,976
5,000
32,735


Charge for the year on owned assets
317
135
1,717
-
2,169


Charge for the year on financed assets
1,847
-
2,897
-
4,744



At 31 March 2024

21,470
3,588
9,590
5,000
39,648



Net book value



At 31 March 2024
12,270
538
41,523
-
54,331



At 31 March 2023
14,434
673
27,887
-
42,994

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
26,071
14,468

Motor vehicles
10,469
12,316

36,540
26,784

Page 7

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Stocks

2024
2023
£
£

Stock
44,980
35,500

44,980
35,500



7.


Debtors

2024
2023
£
£


Trade debtors
44,152
45,839

Other debtors
10,070
7,490

Prepayments and accrued income
3,333
7,654

57,555
60,983


Included within other debtors due are loans to the following directors:
Thomas Winfield £4,998 (2023 - £2,701);
Charles Smith £4,998 (2023 - £Nil).


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
959
3,540

Less: bank overdrafts
(9,656)
-

(8,697)
3,540


Page 8

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
9,656
-

Bank loans
5,669
4,362

Trade creditors
40,322
57,295

Amounts owed to joint ventures
898
1,295

Other taxation and social security
6,827
1,136

Obligations under finance lease and hire purchase contracts
9,005
6,130

Other creditors
24,965
10,022

Accruals and deferred income
1,780
1,695

99,122
81,935


The following liabilities were secured:

2024
2023
£
£



Hire purchase contracts
9,005
6,130

Bank loans
15,325
4,362

24,330
10,492

Details of security provided:

The bank loans are secured. Hire purchase contracts are secured on the assets concerned.

Page 9

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
33,732
39,695

Net obligations under finance leases and hire purchase contracts
24,965
21,381

58,697
61,076


The following liabilities were secured:

2024
2023
£
£



Hire purchase contracts
24,965
21,381

Bank loan
33,732
39,695

58,697
61,076

Details of security provided:

The bank loan is secured. Hire purchase contracts are secured on the assets concerned.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,669
4,362


Amounts falling due 2-5 years

Bank loans
33,732
39,695


39,401
44,057


Page 10

 
ABACUS REPRO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
9,005
6,130

Between 1-5 years
24,965
21,381

33,970
27,511


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £6,177 (2023- £6,000). An amount of £44 (2023 - £Nil) was payable to the fund at the balance sheet date.


14.


Controlling party

There is no overall controlling party. 

 
Page 11