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REGISTERED NUMBER: 06968947 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

Abba's Autos Ltd

Abba's Autos Ltd (Registered number: 06968947)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

Abba's Autos Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr Hiral Trivedi
Mr Najmal Abba





REGISTERED OFFICE: Oxney Road Industrial Estate Oxney Road
Fengate
Peterborough
PE1 5YW





REGISTERED NUMBER: 06968947 (England and Wales)





ACCOUNTANTS: Accountancy Solutions
143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU

Abba's Autos Ltd (Registered number: 06968947)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 20,716 24,657

CURRENT ASSETS
Inventories 5 1,327,626 1,886,658
Debtors 6 986,699 1,185,048
Cash at bank and in hand 302,091 149,766
2,616,416 3,221,472
CREDITORS
Amounts falling due within one year 7 1,574,242 1,431,172
NET CURRENT ASSETS 1,042,174 1,790,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,062,890

1,814,957

CREDITORS
Amounts falling due after more than
one year

8

-

899,955
NET ASSETS 1,062,890 915,002

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,062,790 914,902
SHAREHOLDERS' FUNDS 1,062,890 915,002

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Abba's Autos Ltd (Registered number: 06968947)

Statement of Financial Position - continued
31 July 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 Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:





Mr Hiral Trivedi - Director


Abba's Autos Ltd (Registered number: 06968947)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Abba's Autos Ltd 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.

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
Revenue 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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

Abba's Autos Ltd (Registered number: 06968947)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 7,687 32,455 3,945 20,118 64,205
Additions - - - 1,239 1,239
At 31 July 2024 7,687 32,455 3,945 21,357 65,444
DEPRECIATION
At 1 August 2023 3,308 23,821 3,283 9,136 39,548
Charge for year 876 1,727 133 2,444 5,180
At 31 July 2024 4,184 25,548 3,416 11,580 44,728
NET BOOK VALUE
At 31 July 2024 3,503 6,907 529 9,777 20,716
At 31 July 2023 4,379 8,634 662 10,982 24,657

5. INVENTORIES
31.7.24 31.7.23
£    £   
Stocks 1,327,626 1,886,658

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade Debtors 930,568 1,080,027
Other debtors - inter company 15,650 8,900
Value Added Tax 33,168 88,911
Prepayments 7,313 7,210
986,699 1,185,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts - 15
Trade creditors 1,413,363 1,296,948
Other Creditors- Credit Card 7,788 5,268
Corporation Tax 75,228 65,259
Social security and other taxes 910 671
Pension 139 139
Directors' current accounts 76,814 62,872
1,574,242 1,431,172

Abba's Autos Ltd (Registered number: 06968947)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Other loans - 1-2 years - 899,955

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 August 2023 914,902
Profit for the year 219,888
Dividends (72,000 )
At 31 July 2024 1,062,790

Abba's Autos Ltd

Report of the Accountants to the Directors of
Abba's Autos Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Accountancy Solutions
143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU


Date: .............................................