Company registration number 04199198 (England and Wales)
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
COMPANY INFORMATION
Directors
S Burgess
S Harvey
C Mooney
Company number
04199198
Registered office
Glasshouse, Alderley Park
Congleton Road
Nether Alderley
Macclesfield
Cheshire
England
SK10 4TF
Accountants
Azets
Ship Canal House
98 King Street
Manchester
M2 4WU
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
597
1,648
Current assets
Debtors
4
686,296
862,618
Cash at bank and in hand
293
652
686,589
863,270
Creditors: amounts falling due within one year
5
(635,857)
(822,129)
Net current assets
50,732
41,141
Total assets less current liabilities
51,329
42,789
Provisions for liabilities
(149)
(412)
Net assets
51,180
42,377
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
51,080
42,277
Total equity
51,180
42,377
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
S Burgess
Director
Company Registration No. 04199198
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
ABC Digital Solutions (Midlands) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Glasshouse, Alderley Park, Congleton Road, Nether Alderley, Macclesfield, Cheshire, England, SK10 4TF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet 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 the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
In the current period the company lengthened its accounting period due to business strategy and therefore the previous accounting period is not wholly comparable. The accounting period now represents 15 months from 1 October 2023 to 31 December 2024.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue consists of the proceeds of sales of copier machines, metered usage, service charges, managed services, as well as non-refundable contract termination charges.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
33.33% straight line
Fixtures and fittings
33.33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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 asset and settle the liability simultaneously.
Basic financial assets
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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price. 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 business 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.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
5
5
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 October 2023 and 31 December 2024
16,455
4,974
21,429
Depreciation and impairment
At 1 October 2023
14,807
4,974
19,781
Depreciation charged in the period
1,051
1,051
At 31 December 2024
15,858
4,974
20,832
Carrying amount
At 31 December 2024
597
597
At 30 September 2023
1,648
1,648
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
683,552
792,852
Other debtors
2,744
69,766
686,296
862,618
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
626
2,845
Amounts owed to group undertakings
475,000
450,000
Corporation tax
74,357
183,482
Other taxation and social security
35,874
135,418
Other creditors
50,000
50,384
635,857
822,129
ABC DIGITAL SOLUTIONS (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
6
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
149
412
2024
Movements in the period:
£
Liability at 1 October 2023
412
Credit to profit or loss
(263)
Liability at 31 December 2024
149
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
40
40
40
40
Ordinary B shares of £1 each
40
40
40
40
Ordinary C shares of £1 each
10
10
10
10
Ordinary D shares of £1 each
5
5
5
5
Ordinary E shares of £1 each
5
5
5
5
100
100
100
100
8
Dividends
During the year dividends were paid to directors of £428,630 (2023: £176,058).
9
Directors' transactions
During the year the company advanced £363,630 (2023: £256,058) to directors. This amount was unsecured and repayable on demand. The directors repaid the company £428,630 (2023: £nil). At the balance sheet date £nil (2023: £65,000) was owed to the company.