Registered number
05926329
Ability Gas Services Limited
Unaudited Filleted Accounts
30 September 2024
Ability Gas Services Limited
Registered number: 05926329
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,188 1,487
Current assets
Debtors 4 2,245 -
Cash at bank and in hand 8,229 16,868
10,474 16,868
Creditors: amounts falling due within one year 5 (11,256) (17,574)
Net current liabilities (782) (706)
Total assets less current liabilities 406 781
Provisions for liabilities (221) (277)
Net assets 185 504
Capital and reserves
Called up share capital 100 100
Profit and loss account 85 404
Shareholders' funds 185 504
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Ditchfield
Director
Approved by the board on 5 November 2024
Ability Gas Services Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20% on written down value
Fixtures, fittings, tools and equipment 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 2,151 7,000 9,151
At 30 September 2024 2,151 7,000 9,151
Depreciation
At 1 October 2023 2,132 5,532 7,664
Charge for the year 5 294 299
At 30 September 2024 2,137 5,826 7,963
Net book value
At 30 September 2024 14 1,174 1,188
At 30 September 2023 19 1,468 1,487
4 Debtors 2024 2023
£ £
Other debtors 2,245 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 7,476 11,935
Other creditors 3,780 5,639
11,256 17,574
6 Related party transactions
The company is controlled by the director by virtue of his, and his family's shareholding. Mr Ditchfield has an interest free loan account with the company to which salary and dividends are credited and against which regular withdrawals are made. During the year dividends of £26000 were credited to the loan account. At the year end Mr Ditchfield owed the company £2445 (2023: owed to Mr Ditchfield £2331). This was cleared by dividends declared after the year end.
7 Other information
Ability Gas Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Trispen Close
Halewood
Liverpool
L26 7YP
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