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ABBEY THERMAL INSULATION LIMITED

Registered Number
02814170
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ABBEY THERMAL INSULATION LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

TURNER, Ronald Charles
DERRICK, Paul
STUBBS, Robert John
SARGEANT, Stuart James
TURNER, Deborah Annette

Registered Address

Unit 14 Capricorn Centre
Cranes Farm Road
Basildon
SS14 3JJ

Registered Number

02814170 (England and Wales)
ABBEY THERMAL INSULATION LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets315,53311,593
15,53311,593
Current assets
Stocks4(550,487)902,778
Debtors51,597,030595,327
Cash at bank and on hand1,573,243383,601
2,619,7861,881,706
Creditors amounts falling due within one year6(1,321,962)(564,239)
Net current assets (liabilities)1,297,8241,317,467
Total assets less current liabilities1,313,3571,329,060
Creditors amounts falling due after one year7(193,410)(271,920)
Provisions for liabilities8(4,201)(2,898)
Net assets1,115,7461,054,242
Capital and reserves
Called up share capital38,40038,400
Profit and loss account1,077,3461,015,842
Shareholders' funds1,115,7461,054,242
The financial statements were approved and authorised for issue by the Board of Directors on 17 February 2025, and are signed on its behalf by:
TURNER, Ronald Charles
Director
Registered Company No. 02814170
ABBEY THERMAL INSULATION LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1111
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 July 23-11,27538,12149,396
Additions4,1464533,4188,017
At 30 June 244,14611,72841,53957,413
Depreciation and impairment
At 01 July 23-7,39430,40937,803
Charge for year7771,0082,2924,077
At 30 June 247778,40232,70141,880
Net book value
At 30 June 243,3693,3268,83815,533
At 30 June 23-3,8817,71211,593
4.Stocks

2024

2023

££
Work in progress(550,487)902,778
Total(550,487)902,778
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,109,457319,927
Other debtors487,573275,400
Total1,597,030595,327
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables477,828394,798
Bank borrowings and overdrafts79,25176,913
Taxation and social security296,64782,405
Other creditors463,3265,873
Accrued liabilities and deferred income4,9104,250
Total1,321,962564,239
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts193,410271,920
Total193,410271,920
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,2012,898
Total4,2012,898
9.Directors advances, credits and guarantees
During the year the following advances and credits were made to directors, advances £148,552 (2023 £182,720) credits £600,000 (2023 £430,900), year end balance (£454,595) (2023 (£3,147)). Interest has been charged in the year at 2.25%.