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REGISTERED NUMBER: 12744515 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

A B DEV LTD

A B DEV LTD (REGISTERED NUMBER: 12744515)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Balance sheet 1

Notes to the financial statements 2


A B DEV LTD (REGISTERED NUMBER: 12744515)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 566,185 479,589

Current assets
Stocks 151,115 430,115
Debtors 5 435,068 301,748
Cash at bank and in hand 206,423 798,164
792,606 1,530,027
Creditors
Amounts falling due within one year 6 907,652 1,733,888
Net current liabilities (115,046 ) (203,861 )
Total assets less current liabilities 451,139 275,728

Creditors
Amounts falling due after more than one year 7 (63,806 ) (77,639 )

Provisions for liabilities 10 (125,826 ) (75,834 )
Net assets 261,507 122,255

Capital and reserves
Called up share capital 11 20 20
Retained earnings 261,487 122,235
Shareholders' funds 261,507 122,255

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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:



Mr A Atkins - Director


A B DEV LTD (REGISTERED NUMBER: 12744515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. Statutory information

A B Dev Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12744515. The registered office address is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is Unit 3, 27 Blackmoor Road, Ebblake Industrial Estate, Verwood, Dorset, BH31 6BE.

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 represents amounts receivable, excluding value added tax, in respect of the manufacture and sale of precision engineered parts and is recognised when the goods have been despatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

A B DEV LTD (REGISTERED NUMBER: 12744515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. Employees and directors

The average number of employees during the year was 24 (2023 - 16 ) .

4. Tangible fixed assets
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 July 2023 21,706 585,026 1,044 7,085 614,861
Additions - 172,427 857 11,663 184,947
At 30 June 2024 21,706 757,453 1,901 18,748 799,808
Depreciation
At 1 July 2023 7,354 124,877 331 2,710 135,272
Charge for year 4,341 88,835 488 4,687 98,351
At 30 June 2024 11,695 213,712 819 7,397 233,623
Net book value
At 30 June 2024 10,011 543,741 1,082 11,351 566,185
At 30 June 2023 14,352 460,149 713 4,375 479,589

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
At 1 July 2023 193,051
Additions 60,000
At 30 June 2024 253,051
Depreciation
At 1 July 2023 19,305
Charge for year 25,305
At 30 June 2024 44,610
Net book value
At 30 June 2024 208,441
At 30 June 2023 173,746

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 188,829 224,429
Other debtors 218,717 17,450
VAT 11,478 33,571
Prepayments and accrued income 16,044 26,298
435,068 301,748

A B DEV LTD (REGISTERED NUMBER: 12744515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts (see note 8) 66,333 48,333
Trade creditors 260,619 601,461
Social security and other taxes 23,359 17,257
Other creditors 55,511 3,753
Accruals and deferred income 501,830 1,063,084
907,652 1,733,888

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts (see note 8) 63,806 77,639

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 66,333 48,333
Between one and five years 63,806 77,639
130,139 125,972

Non-cancellable operating leases
2024 2023
£    £   
Within one year 81,217 34,700
Between one and five years 269,188 121,450
350,405 156,150

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 130,139 125,972

Amounts owing under hire purchase agreements are secured against the assets to which they relate.

All amounts owing to, or becoming owing to, Copper Street Investments Ltd and Church Street Corporate Solutions LLP are secured against the property and undertaking of the company by way of a legal charge dated 12 October 2020.

A B DEV LTD (REGISTERED NUMBER: 12744515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 125,826 75,834

Deferred
tax
£   
Balance at 1 July 2023 75,834
Charge to Income statement during year 49,992
Balance at 30 June 2024 125,826

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £0.01 20 20

12. Ultimate controlling party

None of the shareholders of the company hold a majority interest and therefore no individual is deemed to exercise ultimate control.