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Registration number: 06130909

ABTC Projects Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

ABTC Projects Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

ABTC Projects Limited

Company Information

Directors

Mr A Atherton

Mrs B Atherton

Company secretary

Mrs B Atherton

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ABTC Projects Limited
for the Year Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABTC Projects Limited for the year ended 28 February 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of ABTC Projects Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ABTC Projects Limited and state those matters that we have agreed to state to the Board of Directors of ABTC Projects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABTC Projects Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABTC Projects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ABTC Projects Limited. You consider that ABTC Projects Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ABTC Projects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

22 April 2025

 

ABTC Projects Limited

(Registration number: 06130909)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

24,073

31,371

Current assets

 

Debtors

5

13,696

7,428

Cash at bank and in hand

 

5,569

6,969

 

19,265

14,397

Creditors: Amounts falling due within one year

6

(23,750)

(21,550)

Net current liabilities

 

(4,485)

(7,153)

Total assets less current liabilities

 

19,588

24,218

Creditors: Amounts falling due after more than one year

6

(14,065)

(17,379)

Provisions for liabilities

(4,574)

(5,960)

Net assets

 

949

879

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

947

877

Shareholders' funds

 

949

879

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

ABTC Projects Limited

(Registration number: 06130909)
Balance Sheet as at 28 February 2025

Approved and authorised by the Board on 18 April 2025 and signed on its behalf by:
 

.........................................
Mr A Atherton
Director

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the Board on 18 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.


Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

25% reducing balance basis

Office equipment

33% straight line basis

Freehold property

10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Work in progress is valued by reference to future revenue receivable and the stage of completion at the year end, in accordance with UITF 40.

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2024

9,544

11,164

42,018

62,726

Additions

-

208

-

208

At 28 February 2025

9,544

11,372

42,018

62,934

Depreciation

At 1 March 2024

4,500

6,795

20,060

31,355

Charge for the year

505

1,511

5,490

7,506

At 28 February 2025

5,005

8,306

25,550

38,861

Carrying amount

At 28 February 2025

4,539

3,066

16,468

24,073

At 29 February 2024

5,044

4,369

21,958

31,371

Included within the net book value of land and buildings above is £4,539 (2024 - £5,043) in respect of freehold land and buildings.
 

5

Debtors

Current

2025
£

2024
£

Trade debtors

408

408

Prepayments

435

23

Other debtors

12,853

6,997

 

13,696

7,428

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

3,314

3,132

Taxation and social security

 

20,327

18,309

Accruals and deferred income

 

300

300

Other creditors

 

(191)

(191)

 

23,750

21,550

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

14,065

17,379

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

3,314

3,132

 

ABTC Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

9

Related party transactions

Transactions with directors

2025

At 1 March 2024
£

Advances to director
£

Repayments by director
£

At 28 February 2025
£

Mr A Atherton

Undated, unsecured and interest free directors loan account which is repayable on demand

6,136

25,686

(26,000)

5,822

Mrs B Atherton

Undated, unsecured and interest free directors loan account which is repayable on demand

-

31,822

(26,000)

5,822

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr A Atherton

Undated, unsecured and interest free directors loan account which is repayable on demand

29,636

-

(23,500)

6,136

Mrs B Atherton

Undated, unsecured and interest free directors loan account which is repayable on demand

-

23,500

(23,500)

-