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Registered number: 13581861
Abis Business Services Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Nick C Baldwin & Co
Chartered Accountants
Unit 1 Uddens Trading Estate
Wimborne
Dorset
BH21 7LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13581861
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 48,466 40,493
Investments 5 50,000 50,000
98,466 90,493
CURRENT ASSETS
Debtors 6 294,235 293,121
Cash at bank and in hand 49,361 99,109
343,596 392,230
Creditors: Amounts Falling Due Within One Year 7 (205,400 ) (209,514 )
NET CURRENT ASSETS (LIABILITIES) 138,196 182,716
TOTAL ASSETS LESS CURRENT LIABILITIES 236,662 273,209
Creditors: Amounts Falling Due After More Than One Year 8 (19,767 ) -
NET ASSETS 216,895 273,209
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 216,795 273,109
SHAREHOLDERS' FUNDS 216,895 273,209
Page 1
Page 2
For the year ending 31 August 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.
The financial statements were approved by the board of directors on 1 April 2025 and were signed on its behalf by:
Mr Stefano Abis
Director
01/04/2025
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
Abis Business Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13581861 . The registered office is 7 Tincleton Gardens, Bournemouth, Dorset, BH9 3RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Plant & Machinery 25% Straight ine
Motor Vehicles 25% striaght line
Fixtures & Fittings 25% straight line
Computer Equipment 50% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 3)
1 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 48,546 - 5,829 5,041 59,416
Additions 3,072 26,600 - 897 30,569
As at 31 August 2024 51,618 26,600 5,829 5,938 89,985
Depreciation
As at 1 September 2023 13,073 - 1,457 4,393 18,923
Provided during the period 11,968 6,650 1,457 2,521 22,596
As at 31 August 2024 25,041 6,650 2,914 6,914 41,519
Net Book Value
As at 31 August 2024 26,577 19,950 2,915 (976 ) 48,466
As at 1 September 2023 35,473 - 4,372 648 40,493
5. Investments
Unlisted
£
Cost
As at 1 September 2023 50,000
As at 31 August 2024 50,000
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 50,000
As at 1 September 2023 50,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 294,206 293,024
Director's loan account 29 97
294,235 293,121
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 1
Corporation tax (299 ) (59 )
Other creditors 205,600 205,000
Accruals and deferred income 100 4,572
205,400 209,514
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,767 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 19,767 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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