Company No:
Contents
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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402,707 | ||
Current assets | ||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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1,973,230 | ||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (1,010) | |
Total assets less current liabilities | 401,697 | |
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of ABA Groundcare (SW) Limited (registered number:
Mrs R V Hutchings
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
ABA Groundcare (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Grove Trading Estate, Dorchester, DT1 1ST, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Website costs |
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Plant and machinery |
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Vehicles |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 19.07.2023 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Website costs | Total | ||
£ | £ | ||
Cost | |||
At 19 July 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated amortisation | |||
At 19 July 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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Plant and machinery | Vehicles | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 19 July 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 19 July 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Stocks |
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31.03.2024 | |
£ | |
Trade debtors |
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Other debtors |
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31.03.2024 | |
£ | |
Bank loans and overdrafts |
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Trade creditors |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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31.03.2024 | |
£ | |
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Commitments
Capital commitments are as follows:
31.03.2024 | |
£ | |
Contracted for but not provided for: | |
Other | 33,333 |
Transactions with the entity's directors
During the year the directors maintained an interest-free loan with the company which is repayable on demand. At the balance sheet date, the amount due from the company was £479,818.