Registered number
01673146
Abalane Limited
Filleted Accounts
31 March 2024
Abalane Limited
Registered number: 01673146
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Investments 3 1,220,000 1,220,000
Current assets
Debtors 4 4,539 -
Investments held as current assets 5 299,999 299,999
Cash at bank and in hand 293,952 298,942
598,490 598,941
Creditors: amounts falling due within one year 6 (42,902) (29,306)
Net current assets 555,588 569,635
Net assets 1,775,588 1,789,635
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 1,745,588 1,759,635
Shareholders' funds 1,775,588 1,789,635
The directors are 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 directors acknowledge their 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.
Pravinchandra Kanji Shah
Director
Approved by the board on 22 October 2024
Abalane Limited
Notes to the Accounts
for the period from 1 November 2022 to 31 March 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 rent receivable on the investment property.
Investment properties
Investment properties are initially recognised at cost, properties whose fair value can be measured reliably are subsequently measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investment
property
£
Fair value
At 1 November 2022 1,220,000
At 31 March 2024 1,220,000
Historical cost
At 1 November 2022 1,605,567
At 31 March 2024 1,605,567
Investments comprise properties which are registered in the name of the director. The director is holding the same as nominee for the benefit of the company.
4 Debtors 2024 2022
£ £
Other debtors 4,539 -
5 Investments held as current assets 2024 2022
£ £
Cost
Listed investments 299,999 299,999
6 Creditors: amounts falling due within one year 2024 2022
£ £
Taxation and social security costs 10,888 12,331
Other creditors 22,870 7,194
Rent deposit 8,350 8,350
Director's account 794 1,431
42,902 29,306
7 Other information
Abalane Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2- b Draycott Avenue
Kenton Harrow
Middlesex
HA3 0BU
Abalane Limited 01673146 false 2022-11-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Pravinchandra Kanji Shah No description of principal activity 01673146 2021-11-01 2022-10-31 01673146 core:WithinOneYear 2022-10-31 01673146 core:ShareCapital 2022-10-31 01673146 core:RetainedEarningsAccumulatedLosses 2022-10-31 01673146 2022-11-01 2024-03-31 01673146 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-03-31 01673146 bus:AuditExemptWithAccountantsReport 2022-11-01 2024-03-31 01673146 bus:Director40 2022-11-01 2024-03-31 01673146 1 2022-11-01 2024-03-31 01673146 2 2022-11-01 2024-03-31 01673146 countries:England 2022-11-01 2024-03-31 01673146 bus:FRS102 2022-11-01 2024-03-31 01673146 bus:FilletedAccounts 2022-11-01 2024-03-31 01673146 2024-03-31 01673146 core:WithinOneYear 2024-03-31 01673146 core:ShareCapital 2024-03-31 01673146 core:RetainedEarningsAccumulatedLosses 2024-03-31 01673146 2022-10-31 iso4217:GBP xbrli:pure