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Registered number: 12055055
Ahbstra Engineering Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12055055
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 123,241 102,267
Tangible Assets 5 22,556 715
145,797 102,982
CURRENT ASSETS
Debtors 6 270,592 229,543
Cash at bank and in hand 187,676 12,367
458,268 241,910
Creditors: Amounts Falling Due Within One Year 7 (1,694,952 ) (966,620 )
NET CURRENT ASSETS (LIABILITIES) (1,236,684 ) (724,710 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,090,887 ) (621,728 )
NET LIABILITIES (1,090,887 ) (621,728 )
CAPITAL AND RESERVES
Called up share capital 8 12,987 10,000
Share premium account 907,182 -
Pre-subscription 457,834 -
Profit and Loss Account (2,468,890 ) (631,728 )
SHAREHOLDERS' FUNDS (1,090,887) (621,728)
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Hashem Arouzi
Director
30 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ahbstra Engineering Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 12055055 . The registered office is Unit 23, Chelsea Wharf, 15 Lots Road, London, SW10 0QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in  accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. This includes an additional fund raise (see the Post Balance Sheet Events note) and continuing support from the founder and director. 
In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are purchased patents. They are amortised to profit and loss account over its estimated economic life of 20 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.4. Research and Development
Research expenditure is written off in the period in which it is incurred.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  Depreciation  is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings over 5 years on a straight line basis
Computer Equipment over 4 years on a straight line basis
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual 
provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable  in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 1)
2 1
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 109,045
Additions 31,996
As at 30 June 2024 141,041
Amortisation
As at 1 July 2023 6,778
Provided during the period 11,022
As at 30 June 2024 17,800
Net Book Value
As at 30 June 2024 123,241
As at 1 July 2023 102,267
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 - 7,218 7,218
Additions 17,656 4,977 22,633
As at 30 June 2024 17,656 12,195 29,851
Depreciation
As at 1 July 2023 - 6,503 6,503
Provided during the period 279 513 792
As at 30 June 2024 279 7,016 7,295
Net Book Value
As at 30 June 2024 17,377 5,179 22,556
As at 1 July 2023 - 715 715
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 7,465 7,700
Other debtors 230,147 117,944
Corporation tax recoverable assets 32,980 103,899
270,592 229,543
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 703,555 127,416
Other taxes and social security 375 12,677
Other creditors 9,659 2,364
Accruals and deferred income 11,350 4,150
Director's loan account 970,013 820,013
1,694,952 966,620
Included within other creditors are outstanding pension contributions of £425 (2023: £2,241).
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 12,987 10,000
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 53,407 -
Later than one year and not later than five years 34,250 -
87,657 -
10. Post Balance Sheet Events
A total of 91,065 A shares were issued in July and August 2024, raising £749,997 in funding. Of this, £292,163 was received after 30 June 2024, while £457,834 is recorded as Other Reserves in the financial statements.
11. Related Party Transactions
During the period the director advanced £160,000 (2023: £319,870) to the company and the company repaid £10,000 (2023: £36,747). At the year end a balance of £970,013 (2023: £820,013) was due to the director. The loan is unsecured, interest free and repayable on demand.
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