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REGISTERED NUMBER: 12480704 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Ability Facilities Management Ltd

Ability Facilities Management Ltd (Registered number: 12480704)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Ability Facilities Management Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M A Wood
J H Wood





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 12480704 (England and Wales)





ACCOUNTANTS: Michael J Ventham
11 Lincoln Way
Maldon
Essex
CM9 6GL

Ability Facilities Management Ltd (Registered number: 12480704)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,208 84,981

CURRENT ASSETS
Debtors 5 68,719 97,109
Cash at bank 254,342 167,943
323,061 265,052
CREDITORS
Amounts falling due within one year 6 172,770 177,940
NET CURRENT ASSETS 150,291 87,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,499

172,093

CREDITORS
Amounts falling due after more than one
year

7

(70,146

)

(91,593

)

PROVISIONS FOR LIABILITIES 9 (14,564 ) (19,501 )
NET ASSETS 129,789 60,999

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Retained earnings 11 79,789 10,999
SHAREHOLDERS' FUNDS 129,789 60,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Ability Facilities Management Ltd (Registered number: 12480704)

Balance Sheet - continued
30 June 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 13 January 2025 and were signed on its behalf by:





M A Wood - Director


Ability Facilities Management Ltd (Registered number: 12480704)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Ability Facilities Management 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
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 & Machinery25% WDV
Fixtures & Fittings25% WDV
Computer Equipment25% WDV

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company has also made a substantial contribution to the Self Invested Pension Plan of one of the directors.

Hire purchase commitments
Fixed assets obtained through hire purchase agreements are capitalised on the date at which the asset came into use. Interest on the lease is charged to profit or loss in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

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

Ability Facilities Management Ltd (Registered number: 12480704)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and Fixtures Motor Computer
machinery & Fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 462 295 100,483 8,257 109,497
Additions - - - 540 540
At 30 June 2024 462 295 100,483 8,797 110,037
DEPRECIATION
At 1 July 2023 259 167 21,899 2,191 24,516
Charge for year 51 - 19,646 1,616 21,313
At 30 June 2024 310 167 41,545 3,807 45,829
NET BOOK VALUE
At 30 June 2024 152 128 58,938 4,990 64,208
At 30 June 2023 203 128 78,584 6,066 84,981

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 53,088 83,920
Other debtors 3,200 3,200
Prepayments and accrued income 12,431 9,989
68,719 97,109

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Hire purchase contracts 11,447 10,115
Trade creditors 20,827 39,821
Tax 57,594 21,160
Social security and other taxes 2,083 2,069
VAT 33,988 42,041
Directors' loan accounts 24,849 42,513
Accruals and deferred income 9,798 10,221
Accrued expenses 2,184 -
172,770 177,940

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 8) 9,167 19,167
Hire purchase contracts 60,979 72,426
70,146 91,593

Ability Facilities Management Ltd (Registered number: 12480704)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,167 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 9,167

The Coronavirus Bounceback loan was introduced in May 2020. It carries an interest rate of 2.5% per annum and is repayable over six years with no repayments due in the first 12 months. The first repayment was made on 7th June 2021.

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 14,564 19,501

Deferred
tax
£   
Balance at 1 July 2023 19,501
Credit to Income Statement during year (4,937 )
Balance at 30 June 2024 14,564

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
76 Ordinary 'A' 1 38,000 38,000
24 Ordinary 'B' 1 12,000 12,000
50,000 50,000

11. RESERVES
Retained
earnings
£   

At 1 July 2023 10,999
Profit for the year 154,790
Dividends (86,000 )
At 30 June 2024 79,789

Ability Facilities Management Ltd (Registered number: 12480704)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. RELATED PARTY DISCLOSURES

At the year end the company owed M A Wood, a Director, £13,392 (2023: £26,751) and J H Wood, also a Director, £11,457 (2023: £15,762).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Wood by virtue of his shareholding.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ability Facilities Management 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 Balance Sheet. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ability Facilities Management Ltd for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ability Facilities Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ability Facilities Management Ltd and state those matters that we have agreed to state to the Board of Directors of Ability Facilities Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ability Facilities Management Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ability Facilities Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ability Facilities Management Ltd. You consider that Ability Facilities Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ability Facilities Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Michael J Ventham
11 Lincoln Way
Maldon
Essex
CM9 6GL


13 January 2025