Registration number:
ABP Management Services Limited
for the Year Ended 31 May 2024
ABP Management Services Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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 |
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Accountants |
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ABP Management Services Limited
(Registration number: 14090071)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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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:
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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
ABP Management Services Limited
(Registration number: 14090071)
Balance Sheet as at 31 May 2024 (continued)
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ABP Management Services Limited
Statement of Changes in Equity for the Year Ended 31 May 2024
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 June 2023 |
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Profit for the year |
- |
- |
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Dividends |
- |
- |
( |
( |
At 31 May 2024 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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Profit for the year |
- |
- |
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New share capital subscribed |
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- |
- |
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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
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2024 |
2023 |
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Other investments other than loans |
1,489,154 |
755,000 |
Fixed asset investment participating Interests |
699 |
599 |
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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
£ |
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Cost or valuation |
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At 1 June 2023 |
755,000 |
Additions |
734,154 |
At 31 May 2024 |
1,489,154 |
Investments in participating interests
£ |
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Cost or valuation |
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At 1 June 2023 |
599 |
Additions |
100 |
At 31 May 2024 |
699 |
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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Prepayments |
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- |
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Other debtors |
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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 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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80 |
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80 |
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4 |
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4 |
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1 |
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1 |
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Dividends |
2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
100,000 |
- |
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ABP Management Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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 |
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Advanced |
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At end of period |
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2023 |
Entities with joint control or significant influence |
Total |
Advanced |
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At end of period |
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Terms of loans to related parties
Loans from related parties
2024 |
Other related parties |
Total |
Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
- |
- |
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Terms of loans from related parties