Company Registration No. 09458280 (England and Wales)
Abstract Factory Solutions Limited
Unaudited accounts
for the year ended 29 February 2024
Abstract Factory Solutions Limited
Unaudited accounts
Contents
Abstract Factory Solutions Limited
Company Information
for the year ended 29 February 2024
Directors
Andrew Bourne
Anna Bourne
Company Number
09458280 (England and Wales)
Registered Office
1 Harold Hines Way
Trentham
Stoke on Trent
ST4 8WJ
Accountants
Victoria Miles Accountants
Stafford Education and Enterprise Park
Weston Road
Stafford
Staffordshire
ST18 0BF
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Abstract Factory Solutions Limited
for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Abstract Factory Solutions Limited for the year ended
29 February 2024 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Abstract Factory Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 30 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Abstract Factory Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Abstract Factory Solutions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abstract Factory Solutions Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Abstract Factory Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abstract Factory Solutions Limited. You consider that Abstract Factory Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Abstract Factory Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Victoria Miles Accountants
Chartered Certified Accountants
Stafford Education and Enterprise Park
Weston Road
Stafford
Staffordshire
ST18 0BF
25 November 2024
Abstract Factory Solutions Limited
Statement of financial position
as at 29 February 2024
Tangible assets
17,415
11,247
Cash at bank and in hand
12,130
65,179
Creditors: amounts falling due within one year
(4,301)
(21,920)
Net current assets
51,139
56,384
Total assets less current liabilities
68,554
67,631
Provisions for liabilities
Deferred tax
(3,309)
(2,138)
Called up share capital
100
100
Profit and loss account
65,145
65,393
Shareholders' funds
65,245
65,493
For the 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. 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.
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 25 November 2024 and were signed on its behalf by
Anna Bourne
Director
Company Registration No. 09458280
Abstract Factory Solutions Limited
Notes to the Accounts
for the year ended 29 February 2024
Abstract Factory Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 09458280. The registered office is 1 Harold Hines Way, Trentham, Stoke on Trent, ST4 8WJ.
2
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 year, 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.
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:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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 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.
Abstract Factory Solutions Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
-
7,057
22,906
29,963
Additions
1,535
3,734
6,705
11,974
At 29 February 2024
1,535
10,791
29,611
41,937
At 1 March 2023
-
3,592
15,124
18,716
Charge for the year
384
1,800
3,622
5,806
At 29 February 2024
384
5,392
18,746
24,522
At 29 February 2024
1,151
5,399
10,865
17,415
At 28 February 2023
-
3,465
7,782
11,247
Amounts falling due within one year
Accrued income and prepayments
-
4,121
Other debtors
41,854
9,004
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
3,351
15,413
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.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
4,502
26,250
10,044
20,708
Loan
4,502
26,250
10,043
20,709
9,004
52,500
20,087
41,417
Abstract Factory Solutions Limited
Notes to the Accounts
for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).