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REGISTERED NUMBER: SC297580 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: J W Gerrard



REGISTERED OFFICE: 6 Miller Road
Ayr
Ayrshire
KA7 2AY



REGISTERED NUMBER: SC297580 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: The Royal Bank of Scotland
30 Sandgate
Ayr
Ayrshire
KA7 1BY

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,655 7,193

CURRENT ASSETS
Stocks 5,120 -
Debtors 5 37,694 52,754
Cash at bank 35,918 50,115
78,732 102,869
CREDITORS
Amounts falling due within one year 6 53,198 47,244
NET CURRENT ASSETS 25,534 55,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,189

62,818

CREDITORS
Amounts falling due after more than one
year

7

(933

)

(1,733

)

PROVISIONS FOR LIABILITIES (914 ) (1,367 )
NET ASSETS 27,342 59,718

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 27,242 59,618
SHAREHOLDERS' FUNDS 27,342 59,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)

BALANCE SHEET - continued
31 March 2024


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 director and authorised for issue on 9 January 2025 and were signed by:





J W Gerrard - Director


ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Abacus Plumbing & Heating (Ayrshire) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 8% on cost

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,949 14,920 911 17,780
DEPRECIATION
At 1 April 2023 1,716 7,960 911 10,587
Charge for year 58 3,480 - 3,538
At 31 March 2024 1,774 11,440 911 14,125
NET BOOK VALUE
At 31 March 2024 175 3,480 - 3,655
At 31 March 2023 233 6,960 - 7,193

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,743 -
Other debtors 34,951 52,754
37,694 52,754

ABACUS PLUMBING & HEATING (AYRSHIRE)
LIMITED (REGISTERED NUMBER: SC297580)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 800 800
Trade creditors 42,898 21,605
Taxation and social security 6,432 22,578
Other creditors 3,068 2,261
53,198 47,244

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 933 1,733

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 59,618
Profit for the year 2,124
Dividends (34,500 )
At 31 March 2024 27,242

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J W Gerrard
Balance outstanding at start of year 52,419 28,799
Amounts advanced 71,224 50,271
Amounts repaid (89,269 ) (26,651 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,374 52,419