Registered number
08407768
ABS Business Supplies Limited
Filleted Accounts
31 March 2024
ABS Business Supplies Limited
Registered number: 08407768
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,498 18,364
Current assets
Stocks 17,885 18,358
Debtors 4 103,105 105,810
Bank Deposit Account 145,960 135,208
Cash at bank and in hand 12,348 22,862
279,298 282,238
Creditors: amounts falling due within one year 5 (114,791) (143,085)
Net current assets 164,507 139,153
Total assets less current liabilities 176,005 157,517
Provisions for liabilities (1,456) (396)
Net assets 174,549 157,121
Capital and reserves
Called up share capital 100 100
Profit and loss account 174,449 157,021
Shareholders' funds 174,549 157,121
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.
Mr L. Baker
Director
Approved by the board on 31 August 2024
ABS Business Supplies Limited
Notes to the Accounts
for the year ended 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 23,578 46,601 70,179
Disposals - (22,720) (22,720)
At 31 March 2024 23,578 23,881 47,459
Depreciation
At 1 April 2023 15,803 36,012 51,815
Charge for the year 1,944 1,889 3,833
On disposals - (19,687) (19,687)
At 31 March 2024 17,747 18,214 35,961
Net book value
At 31 March 2024 5,831 5,667 11,498
At 31 March 2023 7,775 10,589 18,364
4 Debtors 2024 2023
£ £
Trade debtors 102,225 105,329
Other debtors 880 481
103,105 105,810
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 51,995 65,473
Taxation and social security costs 24,930 30,995
Other creditors 37,866 46,617
114,791 143,085
6 Other information
ABS Business Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Atley Business Park
North Nelson industrial Estate
Cramlington
Northumberland
NE23 1WP
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