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Logo On Report
Registered Number: 03987514
England and Wales

 

 

 

ABBEYHORN LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Abbeyhorn Limited for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at


http://rulebook.accaglobal.com.




This report is made solely to the member of Abbeyhorn Limited, as a body, in accordance with the terms of our engagement letter dated 16 September 2012. Our work has been undertaken solely to prepare for your approval the accounts of Abbeyhorn Limited and state those matters that we have agreed to state to the Board of Abbeyhorn Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at


http://www.accaglobal.com/factsheet163.


To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbeyhorn Limited and its members as a body for our work or for this report.

It is your duty to ensure that Abbeyhorn 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 Abbeyhorn Limited. You consider that Abbeyhorn 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 Abbeyhorn 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.


SJW ACCOUNTANTS
Casterton Suite
CHBC
Burton in Kendal
LA6 1NU
09 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 15,020    24,016 
Tangible fixed assets 4 196,094    196,430 
211,114    220,446 
Current assets      
Stocks 270,740    304,070 
Debtors: amounts falling due within one year 162,001    100,452 
Cash at bank and in hand 157,095    259,035 
589,836    663,557 
Creditors: amount falling due within one year (109,676)   (122,034)
Net current assets 480,160    541,523 
 
Total assets less current liabilities 691,274    761,969 
Creditors: amount falling due after more than one year (38,756)   (55,462)
Provisions for liabilities (28,608)   (20,112)
Net assets 623,910    686,395 
 

Capital and reserves
     
Called up share capital 5 80    80 
Profit and loss account 623,830    686,315 
Shareholders' funds 623,910    686,395 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 November 2024 and were signed on its behalf by:


-------------------------------
Paul Cleasby
Director
2
General Information
Abbeyhorn Limited is a private company, limited by shares, registered in England and Wales, registration number 03987514, registration address Holme Mills, Holme, Carnforth, Lancs, LA6 1RD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 10 Yrs Straight Line
Plant and Machinery 10 Yrs Straight Line
Motor Vehicles 5 Yrs Straight Line
Fixtures and Fittings 10 Yrs Straight Line
Computer Equipment 5 Yrs Straight Line
Inventory
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 12 (2023 : 12).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 April 2023 75,000    7,500    82,500 
Additions    
Disposals    
At 31 March 2024 75,000    7,500    82,500 
Amortisation
At 01 April 2023 52,480    6,004    58,484 
Charge for year 7,500    1,496    8,996 
On disposals    
At 31 March 2024 59,980    7,500    67,480 
Net book values
At 31 March 2024 15,020      15,020 
At 31 March 2023 22,520    1,496    24,016 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 April 2023 173,473    72,569    97,430    27,602    4,992    376,066 
Additions   33,287        153    33,440 
Disposals          
At 31 March 2024 173,473    105,856    97,430    27,602    5,145    409,506 
Depreciation
At 01 April 2023 78,189    53,835    25,004    17,682    4,926    179,636 
Charge for year 9,975    2,830    19,455    1,494    22    33,776 
On disposals          
At 31 March 2024 88,164    56,665    44,459    19,176    4,948    213,412 
Net book values
Closing balance as at 31 March 2024 85,309    49,191    52,971    8,426    197    196,094 
Opening balance as at 01 April 2023 95,284    18,734    72,426    9,920    66    196,430 


5.

Share Capital

Authorised
80 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
80 Class A shares of £1.00 each 80    80 
80    80 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
MR P Cleasby(3,729)910 26,873 23,144 

There is an outstanding loan to Mr P Cleasby of £26,873 (£23,144.40 2023). This loan is on the understanding that it is repaid on demand from the company.
3