Registered number
07340955
A B Projects Limited
Filleted Accounts
31 August 2024
A B Projects Limited
Registered number: 07340955
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,822 9,777
Current assets
Debtors 4 45,865 39,530
Cash at bank and in hand 24,966 40,020
70,831 79,550
Creditors: amounts falling due within one year 5 (35,112) (40,217)
Net current assets 35,719 39,333
Total assets less current liabilities 43,541 49,110
Creditors: amounts falling due after more than one year 6 (17,500) (27,500)
Net assets 26,041 21,610
Capital and reserves
Called up share capital 400 400
Profit and loss account 25,641 21,210
Shareholders' funds 26,041 21,610
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 members have 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.
A Burrows
Director
Approved by the board on 28 February 2025
A B Projects Limited
Notes to the Accounts
for the year ended 31 August 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 15,727
At 31 August 2024 15,727
Depreciation
At 1 September 2023 5,950
Charge for the year 1,955
At 31 August 2024 7,905
Net book value
At 31 August 2024 7,822
At 31 August 2023 9,777
4 Debtors 2024 2023
£ £
Trade debtors 45,865 39,530
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 18,598 20,410
Taxation and social security costs 7,225 10,518
Other creditors 9,289 9,289
35,112 40,217
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,500 27,500
7 Other information
A B Projects Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Croft Barn
Dunston Heath
Stafford
ST18 9AQ
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