Abingers (Edinburgh) Ltd SC652623 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of cafe services. Digita Accounts Production Advanced 6.30.9574.0 true true SC652623 2023-07-01 2024-06-30 SC652623 2024-06-30 SC652623 bus:OrdinaryShareClass1 2024-06-30 SC652623 core:CurrentFinancialInstruments 2024-06-30 SC652623 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC652623 core:Goodwill 2024-06-30 SC652623 core:BetweenTwoFiveYears 2024-06-30 SC652623 core:MoreThanFiveYears 2024-06-30 SC652623 core:WithinOneYear 2024-06-30 SC652623 core:FurnitureFittingsToolsEquipment 2024-06-30 SC652623 bus:SmallEntities 2023-07-01 2024-06-30 SC652623 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC652623 bus:FilletedAccounts 2023-07-01 2024-06-30 SC652623 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC652623 bus:RegisteredOffice 2023-07-01 2024-06-30 SC652623 bus:Director1 2023-07-01 2024-06-30 SC652623 bus:Director2 2023-07-01 2024-06-30 SC652623 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC652623 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC652623 bus:Agent1 2023-07-01 2024-06-30 SC652623 core:Goodwill 2023-07-01 2024-06-30 SC652623 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 SC652623 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-01 2024-06-30 SC652623 countries:Scotland 2023-07-01 2024-06-30 SC652623 2023-06-30 SC652623 core:Goodwill 2023-06-30 SC652623 core:FurnitureFittingsToolsEquipment 2023-06-30 SC652623 2022-07-01 2023-06-30 SC652623 2023-06-30 SC652623 bus:OrdinaryShareClass1 2023-06-30 SC652623 core:CurrentFinancialInstruments 2023-06-30 SC652623 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC652623 core:Goodwill 2023-06-30 SC652623 core:BetweenTwoFiveYears 2023-06-30 SC652623 core:MoreThanFiveYears 2023-06-30 SC652623 core:WithinOneYear 2023-06-30 SC652623 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC652623

Abingers (Edinburgh) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Abingers (Edinburgh) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Abingers (Edinburgh) Ltd

Company Information

Directors

Ms A Jarvie

Ms J Turnbull

Registered office

 

53 Craigcrook Road
Edinburgh
EH4 3PH

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Abingers (Edinburgh) Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abingers (Edinburgh) Ltd for the year ended 30 June 2024 as set out on pages 3 to 11 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Abingers (Edinburgh) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Abingers (Edinburgh) Ltd and state those matters that we have agreed to state to the Board of Directors of Abingers (Edinburgh) Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abingers (Edinburgh) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abingers (Edinburgh) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Abingers (Edinburgh) Ltd. You consider that Abingers (Edinburgh) 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 accounts of Abingers (Edinburgh) 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 accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

9 October 2024

 

Abingers (Edinburgh) Ltd

(Registration number: SC652623)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,000

7,000

Tangible assets

5

3,585

6,301

 

9,585

13,301

Current assets

 

Stocks

6

500

250

Debtors

7

3,027

3,648

Cash at bank and in hand

 

1,269

5,228

 

4,796

9,126

Creditors: Amounts falling due within one year

8

(25,466)

(27,671)

Net current liabilities

 

(20,670)

(18,545)

Total assets less current liabilities

 

(11,085)

(5,244)

Provisions for liabilities

1,732

649

Net liabilities

 

(9,353)

(4,595)

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

(9,453)

(4,695)

Shareholders' deficit

 

(9,353)

(4,595)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

 

Abingers (Edinburgh) Ltd

(Registration number: SC652623)
Balance Sheet as at 30 June 2024

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 Board on 9 October 2024 and signed on its behalf by:
 

.........................................
Ms A Jarvie
Director

 

Abingers (Edinburgh) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
53 Craigcrook Road
Edinburgh
EH4 3PH

These financial statements were authorised for issue by the Board on 9 October 2024.

2

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared on a going concern basis as the director has undertaken to support the company until profitability can be achieved.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of cafe services. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Abingers (Edinburgh) Ltd

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

 

Abingers (Edinburgh) Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2023 - 4).

 

Abingers (Edinburgh) Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

10,000

10,000

At 30 June 2024

10,000

10,000

Amortisation

At 1 July 2023

3,000

3,000

Amortisation charge

1,000

1,000

At 30 June 2024

4,000

4,000

Carrying amount

At 30 June 2024

6,000

6,000

At 30 June 2023

7,000

7,000

 

Abingers (Edinburgh) Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

13,583

13,583

At 30 June 2024

13,583

13,583

Depreciation

At 1 July 2023

7,282

7,282

Charge for the year

2,716

2,716

At 30 June 2024

9,998

9,998

Carrying amount

At 30 June 2024

3,585

3,585

At 30 June 2023

6,301

6,301

6

Stocks

2024
£

2023
£

Stock

500

250

7

Debtors

2024
£

2023
£

Trade debtors

241

-

Prepayments

2,700

3,562

Other debtors

86

86

3,027

3,648

 

Abingers (Edinburgh) Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

150

-

Trade creditors

 

(1,439)

2,303

Taxation and social security

 

5,148

5,200

Accruals and deferred income

 

1,634

1,730

Other creditors

 

19,973

18,438

 

25,466

27,671

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

150

-

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Abingers (Edinburgh) Ltd

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

11

Related party transactions

The company operates a loan account with the director, Ms A Jarvie.
During the year, the director advanced loans totalling £131 to the company. At the year end, the balance due to the director was £21,744 (2023 - £21,613). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with the director, Ms J Turnbull.
During the year, the director repaid loans totalling £900 to the company. At the year end, the balance due from the director was £2,568 (2023 - £3,467). This loan is unsecured, interest free and has no fixed repayment terms.

 

12

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

10,800

10,800

Later than one year and not later than five years

43,200

43,200

Later than five years

10,800

21,600

64,800

75,600

The amount of non-cancellable operating lease payments recognised as an expense during the year was £10,800 (2023 - £10,800).