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Registration number: 14090071

ABP Management Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

ABP Management Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

ABP Management Services Limited

Company Information

Directors

Mr D A Whitton

Mr K E Franklin

Mr M J Baker

Mr R G Butler

Registered office

Unit 18
Salisbury Road Business Park
Pewsey
Wiltshire
SN9 5PZ

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

ABP Management Services Limited

(Registration number: 14090071)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,489,853

755,599

Current assets

 

Debtors

5

47,774

27,548

Cash at bank and in hand

 

1,390,898

1,588,192

 

1,438,672

1,615,740

Creditors: Amounts falling due within one year

6

(18,865)

(4,875)

Net current assets

 

1,419,807

1,610,865

Net assets

 

2,909,660

2,366,464

Capital and reserves

 

Called up share capital

7

85

85

Capital redemption reserve

10

10

Retained earnings

2,909,565

2,366,369

Shareholders' funds

 

2,909,660

2,366,464

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

 

ABP Management Services Limited

(Registration number: 14090071)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Mr M J Baker
Director

 

ABP Management Services Limited

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 June 2023

85

10

2,366,369

2,366,464

Profit for the year

-

-

643,196

643,196

Dividends

-

-

(100,000)

(100,000)

At 31 May 2024

85

10

2,909,565

2,909,660

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

Profit for the year

-

-

2,692,994

2,692,994

New share capital subscribed

95

-

-

95

Purchase of own share capital

(10)

-

(326,625)

(326,635)

Other capital redemption reserve movements

-

10

-

10

At 31 May 2023

85

10

2,366,369

2,366,464

 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 18
Salisbury Road Business Park
Pewsey
Wiltshire
SN9 5PZ

These financial statements were authorised for issue by the Board on 21 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Fixed asset investments in participation interests are stated at cost less provision for any permanent diminution in value. Fixed Asset investments in investment properties are stated at Fair Value through Profit or Loss.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Other investments other than loans

1,489,154

755,000

Fixed asset investment participating Interests

699

599

1,489,853

755,599

 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Investments (continued)

Other investments other than loans

£

Cost or valuation

At 1 June 2023

755,000

Additions

734,154

At 31 May 2024

1,489,154

Investments in participating interests

£

Cost or valuation

At 1 June 2023

599

Additions

100

At 31 May 2024

699

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

45,120

26,400

Prepayments

 

559

-

Other debtors

 

2,095

1,148

   

47,774

27,548

6

Creditors

Creditors: amounts falling due within one year

 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

6

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

810

1,573

Taxation and social security

16,455

2,462

Accruals and deferred income

1,500

840

Other creditors

100

-

18,865

4,875

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

80

80

80

80

Ordinary B of £1 each

4

4

4

4

Ordinary C of £1 each

1

1

1

1

85

85

85

85

8

Dividends

2024

2023

£

£

Interim dividend of £1,176.47 (2023 - £Nil) per ordinary share

100,000

-

 

 
 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

9

Related party transactions

During the comparitive year the company bought back 10 out of 95 shares from Mr Tom Ritchie for £325,000. The nominal value of the shares was £10 and the purchase was funded by the company's retained earnings.

On inception of ABP Management Services Limited - in the comparitive year - Acorn Builders (Pewsey) Ltd was reorganised into a group. £500,000 of the dividend income in the current reporting period was from this subsidary company (2023 - £2,505,504). The intercompany balance at the end of the reporting period was £nil.

During the period, dividends of £77,408 (2023 - £150,594) were received from Acorn Construction Newbury Ltd.

During the year, rental income of £12,000 (2023 - £5,000) was charged to a subsidary - Acorn Builders (Pewsey) Ltd for rental of an office unit.
This rent was charged at a commercial rate on an arms-length basis.

Acorn Pewsey Agricultural Ltd - ABP Management purchased 100% of the share capital of Acorn Pewsey Agricultural Ltd on 01/07/2023 from Mark Baker.

 

ABP Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

9

Related party transactions (continued)

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

26,400

26,400

Advanced

18,720

18,720

At end of period

45,120

45,120

2023

Entities with joint control or significant influence
£

Total
£

Advanced

26,400

26,400

At end of period

26,400

26,400

Terms of loans to related parties

Balance of Amount Owed by Participating Interests at the reporting date relates to dividend income yet to be remitted from AB Electrical (Pewsey) Ltd. Loan is interest free and is repayable on demand. During the year dividends of £18,720 (2023 - £26,400) were declared as income from this company. The loan balance at the end of the reporting period was £45,120 (2023 - 26,400).
 

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

300,000

300,000

Repaid

(305,470)

(305,470)

Interest transactions

5,470

5,470

At end of period

-

-

Terms of loans from related parties

During the year a short term loan was made to the company by Mrs P Baker. The loan was for £300,000 and was fully repaid by the end of the year. Interest of £5,469.86 was paid by the company to Mrs Baker in relation to this loan.