Caseware UK (AP4) 2024.0.164 2024.0.164 2025-01-312025-01-31true2024-02-01falseNo description of principal activity2424trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02203259 2024-02-01 2025-01-31 02203259 2023-02-01 2024-01-31 02203259 2025-01-31 02203259 2024-01-31 02203259 c:Director1 2024-02-01 2025-01-31 02203259 d:PlantMachinery 2024-02-01 2025-01-31 02203259 d:PlantMachinery 2025-01-31 02203259 d:PlantMachinery 2024-01-31 02203259 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 02203259 d:FurnitureFittings 2024-02-01 2025-01-31 02203259 d:FurnitureFittings 2025-01-31 02203259 d:FurnitureFittings 2024-01-31 02203259 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 02203259 d:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 02203259 d:CurrentFinancialInstruments 2025-01-31 02203259 d:CurrentFinancialInstruments 2024-01-31 02203259 d:CurrentFinancialInstruments 1 2025-01-31 02203259 d:CurrentFinancialInstruments 1 2024-01-31 02203259 d:CurrentFinancialInstruments 2 2025-01-31 02203259 d:CurrentFinancialInstruments 2 2024-01-31 02203259 d:Non-currentFinancialInstruments 2025-01-31 02203259 d:Non-currentFinancialInstruments 2024-01-31 02203259 d:CurrentFinancialInstruments d:WithinOneYear 2025-01-31 02203259 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 02203259 d:Non-currentFinancialInstruments d:AfterOneYear 2025-01-31 02203259 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 02203259 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-01-31 02203259 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 02203259 d:ShareCapital 2025-01-31 02203259 d:ShareCapital 2024-01-31 02203259 d:SharePremium 2025-01-31 02203259 d:SharePremium 2024-01-31 02203259 d:RetainedEarningsAccumulatedLosses 2025-01-31 02203259 d:RetainedEarningsAccumulatedLosses 2024-01-31 02203259 c:FRS102 2024-02-01 2025-01-31 02203259 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 02203259 c:FullAccounts 2024-02-01 2025-01-31 02203259 c:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 02203259 d:AcceleratedTaxDepreciationDeferredTax 2025-01-31 02203259 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 02203259 f:PoundSterling 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Registered number: 02203259










ABBEY PRODUCTS (NORFOLK) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
ABBEY PRODUCTS (NORFOLK) LTD
REGISTERED NUMBER:02203259

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,814
32,327

  
26,814
32,327

Current assets
  

Stocks
  
89,574
92,185

Debtors: amounts falling due within one year
 5 
184,240
156,744

Cash at bank and in hand
 6 
13,258
36,248

  
287,072
285,177

Creditors: amounts falling due within one year
 7 
(207,371)
(190,341)

Net current assets
  
 
 
79,701
 
 
94,836

Total assets less current liabilities
  
106,515
127,163

Creditors: amounts falling due after more than one year
 8 
(3,154)
(13,394)

Provisions for liabilities
  

Deferred tax
 10 
-
(6,289)

  
 
 
-
 
 
(6,289)

Net assets
  
103,361
107,480


Capital and reserves
  

Called up share capital 
  
67,378
67,378

Share premium account
  
37,204
37,204

Profit and loss account
  
(1,221)
2,898

  
103,361
107,480

Page 1

 
ABBEY PRODUCTS (NORFOLK) LTD
REGISTERED NUMBER:02203259
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 August 2025.




................................................
P J Andrews
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Abbey Products (Norfolk) Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
10% straight line
Fixtures & fittings
-
10-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 5

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2024 - 24).

Page 6

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 February 2024
325,781
19,656
345,437


Additions
2,047
-
2,047



At 31 January 2025

327,828
19,656
347,484



Depreciation


At 1 February 2024
293,956
19,154
313,110


Charge for the year on owned assets
7,344
216
7,560



At 31 January 2025

301,300
19,370
320,670



Net book value



At 31 January 2025
26,528
286
26,814



At 31 January 2024
31,825
502
32,327


5.


Debtors

2025
2024
£
£


Trade debtors
156,229
150,311

Corporation tax recoverable
16,870
6,402

Prepayments and accrued income
-
31

Deferred taxation
11,141
-

184,240
156,744


Page 7

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
13,258
36,248

13,258
36,248



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other loans
10,490
10,740

Trade creditors
35,024
48,994

Other taxation and social security
28,225
14,846

Proceeds of factored debts
61,360
46,071

Other creditors
1,408
1,084

Accruals and deferred income
8,972
6,714

Share capital treated as debt
61,892
61,892

207,371
190,341


Details of security provided:
The company's factored debts are secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.


8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
3,154
13,394

3,154
13,394


Page 8

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

9.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Other loans
10,490
10,740


10,490
10,740


Amounts falling due 2-5 years

Other loans
3,154
13,394


3,154
13,394


13,644
24,134

Page 9

 
ABBEY PRODUCTS (NORFOLK) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

10.


Deferred taxation




2025


£






At beginning of year
(6,289)


Charged to profit or loss
17,430



At end of year
11,141

The deferred taxation balance is made up as follows:

2025
2024
£
£


Accelerated capital allowances
11,141
(6,289)

11,141
(6,289)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,285 (2024: £7,312). Contributions totalling £1,408 (2024: £482) were payable to the fund at the reporting date.

 
Page 10