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Company No: 15014412 (England and Wales)

ABA GROUNDCARE (SW) LIMITED

Unaudited Financial Statements
For the financial period from 19 July 2023 to 31 March 2024
Pages for filing with the registrar

ABA GROUNDCARE (SW) LIMITED

Unaudited Financial Statements

For the financial period from 19 July 2023 to 31 March 2024

Contents

ABA GROUNDCARE (SW) LIMITED

BALANCE SHEET

As at 31 March 2024
ABA GROUNDCARE (SW) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Intangible assets 3 44,792
Tangible assets 4 357,915
402,707
Current assets
Stocks 5 1,351,764
Debtors 6 611,636
Cash at bank and in hand 9,830
1,973,230
Creditors: amounts falling due within one year 7 ( 1,974,240)
Net current liabilities (1,010)
Total assets less current liabilities 401,697
Creditors: amounts falling due after more than one year 8 ( 213,500)
Provision for liabilities ( 47,524)
Net assets 140,673
Capital and reserves
Called-up share capital 100
Profit and loss account 140,573
Total shareholders' funds 140,673

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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: 15014412) were approved and authorised for issue by the Board of Directors on 19 March 2025. They were signed on its behalf by:

Mrs R V Hutchings
Director
ABA GROUNDCARE (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 19 July 2023 to 31 March 2024
ABA GROUNDCARE (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 19 July 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

2. Employees

Period from
19.07.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 17

3. Intangible assets

Website costs Total
£ £
Cost
At 19 July 2023 0 0
Additions 50,000 50,000
At 31 March 2024 50,000 50,000
Accumulated amortisation
At 19 July 2023 0 0
Charge for the financial period 5,208 5,208
At 31 March 2024 5,208 5,208
Net book value
At 31 March 2024 44,792 44,792

4. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 19 July 2023 0 0 0 0
Additions 2,850 386,056 9,888 398,794
At 31 March 2024 2,850 386,056 9,888 398,794
Accumulated depreciation
At 19 July 2023 0 0 0 0
Charge for the financial period 95 40,578 206 40,879
At 31 March 2024 95 40,578 206 40,879
Net book value
At 31 March 2024 2,755 345,478 9,682 357,915

5. Stocks

31.03.2024
£
Stocks 1,351,764

6. Debtors

31.03.2024
£
Trade debtors 474,186
Other debtors 137,450
611,636

7. Creditors: amounts falling due within one year

31.03.2024
£
Bank loans and overdrafts 30,798
Trade creditors 1,275,934
Other taxation and social security 64,428
Obligations under finance leases and hire purchase contracts 97,474
Other creditors 505,606
1,974,240

8. Creditors: amounts falling due after more than one year

31.03.2024
£
Bank loans 15,600
Obligations under finance leases and hire purchase contracts 197,900
213,500

There are no amounts included above in respect of which any security has been given by the small entity.

9. Financial commitments

Commitments

Capital commitments are as follows:

31.03.2024
£
Contracted for but not provided for:
Other 33,333

10. Related party transactions

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.