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Registered Number: 08348608
England and Wales

 

 

 

A-BUY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 3 12,586    4,293 
Cash at bank and in hand 1,589    1,814 
14,175    6,107 
Creditors: amount falling due within one year 4 (82,733)   (82,454)
Net current assets (68,558)   (76,347)
 
Total assets less current liabilities (68,558)   (76,347)
Net assets (68,558)   (76,347)
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account (69,558)   (77,347)
Shareholders' funds (68,558)   (76,347)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 October 2024 and were signed on its behalf by:


-------------------------------
A D Stevens
Director
-------------------------------
Y Xu
Director
1
General Information
A-Buy Ltd is a private company, limited by shares, registered in England and Wales, registration number 08348608, registration address Merlin House Brunel Road, Theale, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Going concern basis
The company meets its day to day working capital requirements partially through the support of its creditors. The directors have considered the projected trading trading activities of the company during the foreseeable post year-end period. On the basis of this review the directors consider that the company will continue to operate within the available finance facilities. However the margin of finance facilities over requirements is not large and, inherently there can be no certainty in relation to this matter. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the company's creditors.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.

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.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 281    248 
Other Debtors   380 
Directors' Current Accounts 3,250    3,621 
VAT 9,055    44 
12,586    4,293 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   120 
Other Creditors 82,733    82,334 
82,733    82,454 

5.

Advances and Credits



A D Stevens
The following advances and credits to A D Stevens subsisted during the years ended 30 June 2024 and 30 June 2023: The loan account is interest free and repayable on demand.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
A D Stevens3,819 11,001 11,570 3,250 
381911001011570003250
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
A D Stevens(6,181)13,750 3,750 3,819 
-61811375003750003819
2