Registered number
01587376
Abbey Litho Ltd
Filleted Accounts
31 December 2024
Abbey Litho Ltd
Registered number: 01587376
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,281 21,421
Current assets
Stocks 5,855 10,850
Debtors 4 94,752 111,901
Cash at bank and in hand 293,911 532,974
394,518 655,725
Creditors: amounts falling due within one year 5 (63,869) (141,437)
Net current assets 330,649 514,288
Total assets less current liabilities 347,930 535,709
Provisions for liabilities (2,738) (2,950)
Net assets 345,192 532,759
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 340,192 527,759
Shareholder's funds 345,192 532,759
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Bulmer
Director
Approved by the board on 10 February 2025
Abbey Litho Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings & equipment 10% - 20% on cost
Motorcycle 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Fixtures, fittings and equipment Motor cycle Total
£ £ £
Cost
At 1 January 2024 32,309 34,991 67,300
At 31 December 2024 32,309 34,991 67,300
Depreciation
At 1 January 2024 15,565 30,314 45,879
Charge for the year 2,580 1,560 4,140
At 31 December 2024 18,145 31,874 50,019
Net book value
At 31 December 2024 14,164 3,117 17,281
At 31 December 2023 16,744 4,677 21,421
4 Debtors 2024 2023
£ £
Trade debtors 59,010 101,717
Other debtors 35,742 10,184
94,752 111,901
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,548 2,309
Director loan account 3,248 3,460
Taxation and social security costs 20,619 102,630
Other creditors 33,454 33,038
63,869 141,437
6 Other information
Abbey Litho Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 The Fairway
Northwood
Middlesex
HA6 3DZ
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