Company Registration No. SC558576 (Scotland)
Abi Archids Private Limited
Unaudited Filleted Financial Statements
for the year ended 31 December 2024
Abi Archids Private Limited
Unaudited Filleted Financial Statements
Contents
Abi Archids Private Limited
Company Information
for the year ended 31 December 2024
Directors
Mr A Pichaimuthu
Mrs A Lakshmi Narayana Raja
Company Number
SC558576 (Scotland)
Registered Office
748 Knightswood Shopping Centre
Anniesland Road
Glasgow
G14 0YU
Accountants
F & R Watson Accountants Limited
16 Kirk Brae
Maybole
KA19 7ER
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Abi Archids Private Limited
for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Abi Archids Private Limited for the year ended
31 December 2024 as set out on pages
5 -
9 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Abi Archids Private Limited, as a body, in accordance with the terms of our engagement letter dated 15 June 2025. Our work has been undertaken solely to prepare for your approval the accounts of Abi Archids Private Limited and state those matters that we have agreed to state to the Board of Directors of Abi Archids Private Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abi Archids Private Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Abi Archids Private 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 Abi Archids Private Limited. You consider that Abi Archids Private 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 Abi Archids Private 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.
F & R Watson Accountants Limited
Chartered Certified Accountants
16 Kirk Brae
Maybole
KA19 7ER
8 July 2025
Abi Archids Private Limited
Statement of financial position
as at 31 December 2024
Intangible assets
140,976
164,896
Tangible assets
61,104
72,726
Cash at bank and in hand
27,467
26,001
Creditors: amounts falling due within one year
(109,266)
(118,393)
Net current liabilities
(58,883)
(72,624)
Total assets less current liabilities
143,197
164,998
Creditors: amounts falling due after more than one year
(131,038)
(160,880)
Provisions for liabilities
Deferred tax
(10,590)
(12,665)
Net assets/(liabilities)
1,569
(8,547)
Called up share capital
100
100
Profit and loss account
1,469
(8,647)
Shareholders' funds
1,569
(8,547)
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2025 and were signed on its behalf by
Mr A Pichaimuthu
Director
Company Registration No. SC558576
Abi Archids Private Limited
Notes to the Accounts
for the year ended 31 December 2024
Abi Archids Private Limited is a private company, limited by shares, registered in Scotland, registration number SC558576. The registered office is 748 Knightswood Shopping Centre, Anniesland Road, Glasgow, G14 0YU.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least the twelve months following the approval of the financial statements.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4, 5, 7 & 9 years straight line
Computer equipment
4 years straight line
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation.
All intangible assets are considered to have a finite useful life with zero residual value. Amortisation is provided on the following bases:
Goodwill - 10 years straight line
Franchise fees - 10 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs in bringing the inventories to their present location and condition.
Abi Archids Private Limited
Notes to the Accounts
for the year ended 31 December 2024
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments according to the substance of the contractual arrangement.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.
Financial assets are measured at cost less any provision for impairment. Financial liabilities are measured at principal capital amounts outstanding at the period end.
An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.
3
Intangible fixed assets
Goodwill
Other
Total
At 1 January 2024
231,546
7,650
239,196
At 31 December 2024
231,546
7,650
239,196
At 1 January 2024
71,775
2,525
74,300
Charge for the year
23,155
765
23,920
At 31 December 2024
94,930
3,290
98,220
At 31 December 2024
136,616
4,360
140,976
At 31 December 2023
159,771
5,125
164,896
Abi Archids Private Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
89,738
1,066
90,804
At 31 December 2024
89,738
1,066
90,804
At 1 January 2024
17,124
954
18,078
Charge for the year
11,510
112
11,622
At 31 December 2024
28,634
1,066
29,700
At 31 December 2024
61,104
-
61,104
At 31 December 2023
72,614
112
72,726
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
50,163
57,198
Amounts falling due within one year
Accrued income and prepayments
13,726
14,268
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,434
5,301
Obligations under finance leases and hire purchase contracts
11,343
10,103
Trade creditors
25,998
42,066
Taxes and social security
4,607
1,063
Other creditors
23,321
24,608
Abi Archids Private Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
37,542
48,885
Other creditors
67,286
80,354
Aggregate of amounts that fall due for payment after five years
3,060
27,458
The directors have each given personal guarantees as security for both the Novuna HP agreement and the £105,000 loan from Novuna.
8
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
41,237
41,237
Later than one year and not later than five years
44,813
86,050
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' loan
-
3,390
-
3,390
During the year, the company made interest-free advances to the directors amounting to £3,390 (2023: £nil). These were unsecured and repayable on demand. There were no repayments made during the year.
10
Average number of employees
During the year the average number of employees was 13 (2023: 14).