Company registration number 09278150 (England and Wales)
ABS Commercial Solutions Limited
Unaudited financial statements
For the year ended 31 March 2025
ABS Commercial Solutions Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
ABS Commercial Solutions Limited
Statement of financial position
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1,124
4,812
Tangible assets
5
28,763
20,999
29,887
25,811
Current assets
Debtors
6
1,952,866
1,687,050
Cash at bank and in hand
552,656
93,064
2,505,522
1,780,114
Creditors: amounts falling due within one year
7
(997,465)
(776,184)
Net current assets
1,508,057
1,003,930
Total assets less current liabilities
1,537,944
1,029,741
Creditors: amounts falling due after more than one year
8
(1,747)
(12,231)
Provisions for liabilities
(7,191)
(1,334)
Net assets
1,529,006
1,016,176
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,529,005
1,016,175
Total equity
1,529,006
1,016,176
ABS Commercial Solutions Limited
Statement of financial position (continued)
As at 31 March 2025
- 2 -
For the financial year ended 31 March 2025 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
P J Preston
Director
Company registration number 09278150 (England and Wales)
ABS Commercial Solutions Limited
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information
ABS Commercial Solutions Limited is a private company limited by shares incorporated in England and Wales. The company's register number is 09278150 and its registered office is Unit 6-8, First Floor, Revolution Park, Buckshaw Avenue, Buckshaw Village, Chorley, United Kingdom, PR7 7DW.
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
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for consultancy 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.
1.3
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Software
50% - Straight line
1.4
Tangible fixed assets
Property, plant and equipment are initially measured cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
50% Straight line
Fixtures and fittings
50% Straight line
Computers
50% 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 income statement.
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.
ABS Commercial Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to income statement on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
1.9
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.
ABS Commercial Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.
In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.
Making judgement based on historical experience on the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
121
119
4
Intangible fixed assets
Other
£
Cost
At 1 April 2024
14,500
Additions
1,500
At 31 March 2025
16,000
Amortisation and impairment
At 1 April 2024
9,688
Amortisation charged for the year
5,188
At 31 March 2025
14,876
Carrying amount
At 31 March 2025
1,124
At 31 March 2024
4,812
ABS Commercial Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
161,940
Additions
32,966
Disposals
(27,662)
At 31 March 2025
167,244
Depreciation and impairment
At 1 April 2024
140,941
Depreciation charged in the year
24,115
Eliminated in respect of disposals
(26,575)
At 31 March 2025
138,481
Carrying amount
At 31 March 2025
28,763
At 31 March 2024
20,999
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,467,563
977,621
Amounts owed by group undertakings
241,189
Other debtors
7,873
Prepayments and accrued income
477,430
468,240
1,952,866
1,687,050
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
24,641
31,947
Trade creditors
235,255
147,583
Amounts owed to group undertakings
2,250
Corporation tax
288,603
182,455
Other taxation and social security
331,865
289,675
Other creditors
117,101
122,274
997,465
776,184
ABS Commercial Solutions Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 7 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,747
12,231
9
Secured debts
The company's invoice financing facility which is secured on the assets of the company. As at the year end, the invoice financing liability balance is £nil (2024 - £nil).
10
Other financial commitments
The company had a total outstanding commitments of £297,083 (2024: £277,908) for future minimum lease payments under non-cancellable operating leases.