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Registered number: SC186447

A.B. Management Services Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

A.B. Management Services Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
DIRECTORS
Clarence Machado
Louise Machado
SECRETARY
Jonathan Machado
REGISTERED OFFICE
26 Poplar Road
Glenrothes
Fife
KY7 4AA
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC186447
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

A.B. Management Services Ltd

FINANCIAL STATEMENTS
FOR THEYEARENDED31 JULY 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

A.B. Management Services Ltd

BALANCE SHEET AT 31 July 2024
20242023
Notes££
FIXED ASSETS
Tangible assets31,238,0881,260,762
CURRENT ASSETS
Debtors567,365100,308
Cash at bank and in hand190,064261,615
257,429361,923
CREDITORS: Amounts falling due within one year6311,995406,468
NET CURRENT LIABILITIES(54,566)(44,545)
TOTAL ASSETS LESS CURRENT LIABILITIES1,183,5221,216,217
CREDITORS: Amounts falling due after more than one year7311,422395,265
PROVISIONS FOR LIABILITIES AND CHARGES139,114121,171
NET ASSETS732,986699,781
CAPITAL AND RESERVES
Called up share capital922
Profit and loss account732,984699,779
SHAREHOLDERS' FUNDS732,986699,781
For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 25 April 2025 and signed on their behalf by
.............................
Clarence Machado
Director

A.B. Management Services Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.
1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Land And Buildingsstraight line1%
Commercial Vehiclesreducing balance20%
Equipmentreducing balance20%
1d. Investment Properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in net gains/(losses) on investments in the Statement of Financial Activities.
1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which 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 current liabilities.

A.B. Management Services Ltd

1f. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1h. Leases and hire purchase agreements
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets acquired under hire purchase contracts and finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.

A.B. Management Services Ltd

1i. Employee Benefits
When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employee. Contributions are expensed as they become payable.
1j. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20242023
No.No.
Average number of employees99
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 August 2023338,0051,786,0442,124,049
Additions-219,258219,258
Disposals-(59,018)(59,018)
Revaluation7,000-7,000
At 31 July 2024345,0051,946,2842,291,289
Depreciation
At 1 August 202318,381844,906863,287
Disposals-(39,747)(39,747)
For the year1,433228,228229,661
At 31 July 202419,8141,033,3871,053,201
Net Book Amounts
At 31 July 2024325,191912,8971,238,088
At 31 July 2023319,624941,1381,260,762
As at 31 July 2024 included in land and buildings is an investment property - see note 4 for details.

A.B. Management Services Ltd

4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 August 2023143,000143,000
Revaluation7,0007,000
At 31 July 2024150,000150,000
The directors valued the investment property at £150,000 based upon the prevailing market prices at the year end.The historical cost of the investment property is £85,000.
5. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors48,62581,942
Other debtors18,74018,366
67,365100,308
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Bank loans and overdrafts10,00010,000
Trade creditors8,35414,122
Taxation and social security30,08312,106
Other creditors263,558370,240
311,995406,468
Included within other creditors are obligations under hire purchase and finance leases257,092314,996
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans and overdrafts10,00020,000
Other creditors301,422375,265
311,422395,265
Included in other creditors are obligations under finance leases and hire purchase agreements £301,422 (2023 - £375,265).

A.B. Management Services Ltd

8. SECURED CREDITORS
20242023
££
Amount of other creditors which are secured558,514690,261
Included in other creditors are obligations under hire purchase contracts secured over the motor vehicles in the business.
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
10. OTHER FINANCIAL COMMITMENTS
At 31 July 2024 the company was committed to making the following payments under non-cancellable operating leases:
20242023
££
Operating leases-6,793
11. RELATED PARTY TRANSACTIONS
Included in creditors at 31 July 2024 are interest free loans from the directors of £351 (2023- £441). There is no fixed repayment date.