Abelmicro Ltd 13178853 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is construction. Digita Accounts Production Advanced 6.30.9574.0 true 13178853 2023-03-01 2024-02-29 13178853 2024-02-29 13178853 core:RetainedEarningsAccumulatedLosses 2024-02-29 13178853 core:ShareCapital 2024-02-29 13178853 core:CurrentFinancialInstruments 2024-02-29 13178853 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13178853 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 13178853 core:FurnitureFittingsToolsEquipment 2024-02-29 13178853 core:MotorVehicles 2024-02-29 13178853 core:OtherPropertyPlantEquipment 2024-02-29 13178853 bus:SmallEntities 2023-03-01 2024-02-29 13178853 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13178853 bus:FullAccounts 2023-03-01 2024-02-29 13178853 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13178853 bus:RegisteredOffice 2023-03-01 2024-02-29 13178853 bus:Director1 2023-03-01 2024-02-29 13178853 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13178853 core:ComputerEquipment 2023-03-01 2024-02-29 13178853 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13178853 core:MotorVehicles 2023-03-01 2024-02-29 13178853 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 13178853 core:PlantMachinery 2023-03-01 2024-02-29 13178853 countries:EnglandWales 2023-03-01 2024-02-29 13178853 2023-02-28 13178853 core:FurnitureFittingsToolsEquipment 2023-02-28 13178853 core:MotorVehicles 2023-02-28 13178853 core:OtherPropertyPlantEquipment 2023-02-28 13178853 2022-03-01 2023-02-28 13178853 2023-02-28 13178853 core:RetainedEarningsAccumulatedLosses 2023-02-28 13178853 core:ShareCapital 2023-02-28 13178853 core:CurrentFinancialInstruments 2023-02-28 13178853 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13178853 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 13178853 core:FurnitureFittingsToolsEquipment 2023-02-28 13178853 core:MotorVehicles 2023-02-28 13178853 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 13178853

Abelmicro Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Abelmicro Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Abelmicro Ltd

(Registration number: 13178853)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,651

15,540

Current assets

 

Debtors

5

7,176

8,431

Cash at bank and in hand

 

2,163

1,708

 

9,339

10,139

Creditors: Amounts falling due within one year

6

(8,791)

(22,049)

Net current assets/(liabilities)

 

548

(11,910)

Total assets less current liabilities

 

17,199

3,630

Creditors: Amounts falling due after more than one year

6

(10,884)

-

Provisions for liabilities

(3,164)

(2,953)

Net assets

 

3,151

677

Capital and reserves

 

Called up share capital

1

1

Retained earnings

3,150

676

Shareholders' funds

 

3,151

677

 

Abelmicro Ltd

(Registration number: 13178853)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2024
 

.........................................
M Abel
Director

 

Abelmicro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Broomy Bank Cottage
Old Coach Road
Nomans Heath
Malpas
Cheshire
SY14 8EB
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Abelmicro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing balance

Motor vehicles

20% Reducing balance

Computer Equipment

25% Straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

-

18,295

2,419

20,714

Additions

1,041

17,650

-

18,691

Disposals

-

(18,295)

-

(18,295)

At 29 February 2024

1,041

17,650

2,419

21,110

Depreciation

At 1 March 2023

-

4,635

539

5,174

Charge for the year

108

3,530

282

3,920

Eliminated on disposal

-

(4,635)

-

(4,635)

At 29 February 2024

108

3,530

821

4,459

Carrying amount

At 29 February 2024

933

14,120

1,598

16,651

At 28 February 2023

-

13,660

1,880

15,540

 

Abelmicro Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

7,176

8,431

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,530

11,652

Trade creditors

 

6

693

Other creditors

 

5,255

9,704

 

8,791

22,049

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10,884

-

Included within loans and borrowings are hire purchase contracts which are secured against the asset in which they relate.