Registered number
07645505
Abacus Guardian Limited
Unaudited Filleted Accounts
30 June 2024
Abacus Guardian Limited
Registered number: 07645505
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 6,126
Current assets
Debtors 4 16,178 8,932
Cash at bank and in hand 5,484 7,011
21,662 15,943
Creditors: amounts falling due within one year 5 (14,844) (9,415)
Net current assets 6,818 6,528
Total assets less current liabilities 6,819 12,654
Creditors: amounts falling due after more than one year 6 (6,683) (13,374)
Net assets/(liabilities) 136 (720)
Capital and reserves
Called up share capital 1,500 1,500
Profit and loss account (1,364) (2,220)
Shareholders' funds 136 (720)
The directors are 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 directors acknowledge their 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.
K P Bosworth
Director
Approved by the board on 26 March 2025
Abacus Guardian Limited
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 33,000
At 30 June 2024 33,000
Amortisation
At 1 July 2023 26,874
Provided during the year 6,125
At 30 June 2024 32,999
Net book value
At 30 June 2024 1
At 30 June 2023 6,126
Goodwill is being written off by reference to its estimated remaining economic life.
4 Debtors 2024 2023
£ £
Trade debtors 15,058 7,812
Other debtors 1,120 1,120
16,178 8,932
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,937 2,300
Trade creditors 1,989 2,044
Taxation and social security costs 3,785 1,261
Other creditors 2,133 3,810
14,844 9,415
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,683 13,374
7 Controlling party
The company is under the control of the directors who together hold 100% of the issued share capital.
8 Other information
Abacus Guardian Limited is a private company limited by shares and incorporated in England. Its registered office is:
Westerfield Business Centre
Main Road
Westerfield
Ipswich
IP6 9AB
Abacus Guardian Limited 07645505 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 K P Bosworth No description of principal activity 07645505 2022-07-01 2023-06-30 07645505 core:WithinOneYear 2023-06-30 07645505 core:AfterOneYear 2023-06-30 07645505 core:ShareCapital 2023-06-30 07645505 core:RetainedEarningsAccumulatedLosses 2023-06-30 07645505 2023-07-01 2024-06-30 07645505 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07645505 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07645505 bus:Director40 2023-07-01 2024-06-30 07645505 1 2023-07-01 2024-06-30 07645505 2 2023-07-01 2024-06-30 07645505 core:Goodwill 2023-07-01 2024-06-30 07645505 countries:England 2023-07-01 2024-06-30 07645505 bus:FRS102 2023-07-01 2024-06-30 07645505 bus:FilletedAccounts 2023-07-01 2024-06-30 07645505 2024-06-30 07645505 core:WithinOneYear 2024-06-30 07645505 core:AfterOneYear 2024-06-30 07645505 core:ShareCapital 2024-06-30 07645505 core:RetainedEarningsAccumulatedLosses 2024-06-30 07645505 core:Goodwill 2024-06-30 07645505 2023-06-30 07645505 core:Goodwill 2023-06-30 iso4217:GBP xbrli:pure