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REGISTERED NUMBER: 03885308 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

ABACUS EXPRESS LIMITED

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABACUS EXPRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Ms J Dally
M Hollingworth





REGISTERED OFFICE: 114 Burley Road
Leeds
West Yorkshire
LS3 1JP





REGISTERED NUMBER: 03885308 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 81,680 108,627
81,680 108,627

CURRENT ASSETS
Debtors 6 192,149 211,815
Cash at bank 893,142 336,640
1,085,291 548,455
CREDITORS
Amounts falling due within one year 7 (287,926 ) (77,451 )
NET CURRENT ASSETS 797,365 471,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

879,045

579,631

CREDITORS
Amounts falling due after more than
one year

8

(63,595

)

(82,901

)
NET ASSETS 815,450 496,730

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 9 25 25
Retained earnings 815,425 496,705
SHAREHOLDERS' FUNDS 815,450 496,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Ms J Dally - Director


ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Abacus Express Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.


ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals payable under operating leases are charged to the profit and loss account as incurred.

PENSION COSTS
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.

Contributions to the company's defined contribution pension scheme are charged to the profit and loss account in the year in which they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 May 2023
and 30 April 2024 60,000
AMORTISATION
At 1 May 2023
and 30 April 2024 60,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 May 2023
and 30 April 2024 255,740
DEPRECIATION
At 1 May 2023 147,113
Charge for year 26,947
At 30 April 2024 174,060
NET BOOK VALUE
At 30 April 2024 81,680
At 30 April 2023 108,627


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 69,460 77,908
Amounts owed by group undertakings 119,966 126,077
Other debtors 2,723 7,830
192,149 211,815

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 20,133 23,895
Trade creditors 111,632 35,752
Taxation and social security 149,941 10,454
Other creditors 6,220 7,350
287,926 77,451

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts 63,595 82,901

The bank loan and overdraft are secured by a fixed and floating charge over all the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
20 A Ordinary £1 25 25
5 B Ordinary £1 - -
25 25

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£ £
Ms J Dally
Balance outstanding at start of year (561 ) (615 )
Amounts advanced 44,748 49,054
Amounts repaid (45,000 ) (49,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (813 ) (561 )

ABACUS EXPRESS LIMITED (REGISTERED NUMBER: 03885308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

M Hollingworth
Balance outstanding at start of year (322 ) 121
Amounts advanced 36,728 47,557
Amounts repaid (37,000 ) (48,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (594 ) (322 )

11. RELATED PARTY DISCLOSURES

During the year the company rented premises from Balmoral Investments Limited, a company controlled by Ms J Dally, the rent payable being £20,000 (2023: £20,000).

The company also paid for expenditure totalling £13,889 (2022: £18,166) on behalf of Balmoral Investments Limited.

At 30 April 2024 Balmoral Investments Limited owed the company £119,966 (2023: £126,077).

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Ms J Dally.