8 7 Abelo Ltd 09173632 false 2023-08-31 2024-08-31 2024-08-31 The principal activity of the company is that of sales of beekeeping equipment. Digita Accounts Production Advanced 6.30.9574.0 true 09173632 2023-08-31 2024-08-31 09173632 2024-08-31 09173632 bus:OrdinaryShareClass1 2024-08-31 09173632 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 09173632 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 09173632 core:CurrentFinancialInstruments 2024-08-31 09173632 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09173632 core:Non-currentFinancialInstruments 2024-08-31 09173632 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 09173632 core:FurnitureFittingsToolsEquipment 2024-08-31 09173632 core:MotorVehicles 2024-08-31 09173632 bus:SmallEntities 2023-08-31 2024-08-31 09173632 bus:AuditExemptWithAccountantsReport 2023-08-31 2024-08-31 09173632 bus:FilletedAccounts 2023-08-31 2024-08-31 09173632 bus:SmallCompaniesRegimeForAccounts 2023-08-31 2024-08-31 09173632 bus:RegisteredOffice 2023-08-31 2024-08-31 09173632 bus:Director1 2023-08-31 2024-08-31 09173632 bus:OrdinaryShareClass1 2023-08-31 2024-08-31 09173632 bus:PrivateLimitedCompanyLtd 2023-08-31 2024-08-31 09173632 bus:Agent1 2023-08-31 2024-08-31 09173632 core:ComputerEquipment 2023-08-31 2024-08-31 09173632 core:FurnitureFittings 2023-08-31 2024-08-31 09173632 core:FurnitureFittingsToolsEquipment 2023-08-31 2024-08-31 09173632 core:MotorVehicles 2023-08-31 2024-08-31 09173632 core:PlantMachinery 2023-08-31 2024-08-31 09173632 countries:England 2023-08-31 2024-08-31 09173632 2023-08-30 09173632 core:FurnitureFittingsToolsEquipment 2023-08-30 09173632 core:MotorVehicles 2023-08-30 09173632 2022-08-31 2023-08-30 09173632 2023-08-30 09173632 bus:OrdinaryShareClass1 2023-08-30 09173632 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-30 09173632 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-30 09173632 core:CurrentFinancialInstruments 2023-08-30 09173632 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-30 09173632 core:Non-currentFinancialInstruments 2023-08-30 09173632 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-30 09173632 core:FurnitureFittingsToolsEquipment 2023-08-30 09173632 core:MotorVehicles 2023-08-30 09173632 bus:OrdinaryShareClass1 2022-08-31 2023-08-30 xbrli:pure iso4217:GBP xbrli:shares

FINANCIAL PERIOD DATA REFRESH REQUIRED
Select the Refresh button on the Summary or Disclosure tab

Registration number: 09173632

Abelo Ltd

Unaudited Filleted Financial Statements

for the Period from 31 August 2023 to 31 August 2024

 

Abelo Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Abelo Ltd

Company Information

Director

Mr D Cierniak

Registered office

Old Station Yard
Common Road
Dunnington
York
YO19 5EP

Accountants

DAH Accountancy Services Limited
Chartered Management AccountantsCedar Lodge
York Road
Shiptonthorpe
York
East Yorkshire
YO43 3PH

 

Abelo Ltd

(Registration number: 09173632)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

77,615

66,978

Current assets

 

Stocks

5

549,208

578,906

Debtors

6

8,109

20,545

Cash at bank and in hand

 

176,141

180,848

 

733,458

780,299

Creditors: Amounts falling due within one year

7

(211,525)

(321,904)

Net current assets

 

521,933

458,395

Total assets less current liabilities

 

599,548

525,373

Creditors: Amounts falling due after more than one year

7

(19,578)

(22,555)

Provisions for liabilities

(14,746)

(4,932)

Net assets

 

565,224

497,886

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

565,222

497,884

Shareholders' funds

 

565,224

497,886

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

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 May 2025
 

.........................................
Mr D Cierniak
Director

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

1

General information

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

The address of its registered office is:
Old Station Yard
Common Road
Dunnington
York
YO19 5EP
United Kingdom

These financial statements were authorised for issue by the director on 12 May 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

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.

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

Plant and machinery

25% reducing balance

Fixtures and fittings

10% on cost

Office and computer equipment

15% and 33% on cost

Motor vehicles

25% on cost

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.

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 8 (2023 - 7).

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 31 August 2023

77,677

85,458

163,135

Additions

7,734

27,975

35,709

At 31 August 2024

85,411

113,433

198,844

Depreciation

At 31 August 2023

45,064

51,093

96,157

Charge for the period

7,782

17,290

25,072

At 31 August 2024

52,846

68,383

121,229

Carrying amount

At 31 August 2024

32,565

45,050

77,615

At 30 August 2023

32,613

34,365

66,978

5

Stocks

2024
£

2023
£

Other inventories

549,208

578,906

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,059

15,772

Prepayments

3,050

4,773

 

8,109

20,545

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

26,118

10,648

Trade creditors

 

7,240

117,679

Taxation and social security

 

174,361

190,512

Accruals and deferred income

 

178

-

Other creditors

 

3,628

3,065

 

211,525

321,904


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £15,470 (2023 - £0) falling due within one year.


Creditors include unsecured bank loans of £10,648 (2023 - £10,648) falling due within one year.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

19,578

22,555


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £6,931 (2023 - £0) falling due after more than one year.


Creditors include unsecured bank loans of £12,647 (2023 - £22,555) falling due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,647

22,555

Hire purchase contracts

6,931

-

19,578

22,555

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,648

Hire purchase contracts

15,470

-

26,118

10,648

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £37,000.00 (2023 - £44,500.00) per each Ordinary

74,000

89,000

 

 

11

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2023
£

Remuneration

9,480

9,480

Contributions paid to money purchase schemes

6,446

6,281

15,926

15,761

 

Abelo Ltd

Notes to the Unaudited Financial Statements for the Period from 31 August 2023 to 31 August 2024

Dividends paid to the director

2024
£

2023
£

Mr D Cierniak

Dividends

37,000

44,500