Registration number:
Prepared for the registrar
for the
Period from 1 July 2023 to 31 December 2024
Abbey Business Interiors Holdings Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Abbey Business Interiors Holdings Limited
Company Information
|
Directors |
D Giles S Layer |
|
Registered office |
|
|
Auditors |
|
Abbey Business Interiors Holdings Limited
(Registration number: 10817556)
Balance Sheet as at 31 December 2024
|
Note |
31 December |
30 June |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Cash at bank and in hand |
|
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
112,000 |
112,000 |
|
|
Share premium reserve |
76,000 |
76,000 |
|
|
Capital redemption reserve |
56,000 |
56,000 |
|
|
Retained earnings |
335,309 |
329,807 |
|
|
Shareholders' funds |
579,309 |
573,807 |
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.
Approved and authorised by the
Director
Abbey Business Interiors Holdings Limited
Notes to the Financial Statements for the Period from 1 July 2023 to 31 December 2024
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
|
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Abbey Business Interiors Holdings Limited
Notes to the Financial Statements for the Period from 1 July 2023 to 31 December 2024
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.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
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 and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends and other distributions are declared.
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Abbey Business Interiors Holdings Limited
Notes to the Financial Statements for the Period from 1 July 2023 to 31 December 2024
|
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
31 December |
30 June |
|
|
Current taxation |
||
|
UK corporation tax |
|
- |
|
Investments |
|
31 December |
30 June |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 July 2023 |
|
|
At 31 December 2024 |
|
|
Carrying amount |
|
|
At 31 December 2024 |
|
|
At 30 June 2023 |
|
|
Creditors |
|
31 December |
30 June |
|
|
Due within one year |
||
|
Amounts due to related parties |
2,073,712 |
2,073,712 |
|
Taxation and social security |
|
- |
|
Accruals and deferred income |
- |
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
31 December 2024 |
30 June 2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
112,000 |
|
112,000 |
Abbey Business Interiors Holdings Limited
Notes to the Financial Statements for the Period from 1 July 2023 to 31 December 2024
|
Dividends and other distributions |
|
For the period |
For the year ended |
|
|
Contributions to employee ownership trust |
1,888,380 |
- |
|
1,888,380 |
- |
During the period, an Employee Ownership Trust (EOT) was set up to acquire the shares in Abbey Business Interiors Holdings Limited group. During the period contributions totalling £1,888,280 were paid to the EOT. The purpose of the EOT is to provide permanent employee ownership of the company for the benefit of all the company's employees, and indirectly for customers and suppliers to the business.
|
Related party transactions |
As disclosed in note 8, during the period the company received contributions from Abbey Business Interiors Limited in connection with the Employee Ownership Trust. There were no similar transactions in the prior year.
|
Parent and ultimate parent undertaking |
During the period an Employee Ownership Trust was set up, therefore after 6 November 2023 the ultimate controlling party is Abbey Business Interiors Trustees Limited, incorporated in England and Wales, on behalf of Abbey Business Interiors Employee Ownership Trust.
Before this time the ultimate controlling party were the shareholders of Abbey Business Interiors Holdings Limited.
|
Audit report |