AB Conduit Building Ltd 14490106 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the provision of general building services. Digita Accounts Production Advanced 6.30.9574.0 true 14490106 2024-01-01 2024-12-31 14490106 2024-12-31 14490106 2 2024-12-31 14490106 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 14490106 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 14490106 core:CurrentFinancialInstruments 2024-12-31 14490106 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 14490106 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 14490106 core:Goodwill 2024-12-31 14490106 core:BetweenTwoFiveYears 2024-12-31 14490106 core:WithinOneYear 2024-12-31 14490106 core:FurnitureFittingsToolsEquipment 2024-12-31 14490106 core:MotorVehicles 2024-12-31 14490106 bus:SmallEntities 2024-01-01 2024-12-31 14490106 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 14490106 bus:FilletedAccounts 2024-01-01 2024-12-31 14490106 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14490106 bus:RegisteredOffice 2024-01-01 2024-12-31 14490106 bus:Director1 2024-01-01 2024-12-31 14490106 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14490106 core:Goodwill 2024-01-01 2024-12-31 14490106 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 14490106 core:MotorVehicles 2024-01-01 2024-12-31 14490106 countries:EnglandWales 2024-01-01 2024-12-31 14490106 2023-12-31 14490106 core:Goodwill 2023-12-31 14490106 core:FurnitureFittingsToolsEquipment 2023-12-31 14490106 core:MotorVehicles 2023-12-31 14490106 2022-11-17 2023-12-31 14490106 2023-12-31 14490106 2 2023-12-31 14490106 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 14490106 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 14490106 core:CurrentFinancialInstruments 2023-12-31 14490106 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14490106 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 14490106 core:Goodwill 2023-12-31 14490106 core:BetweenTwoFiveYears 2023-12-31 14490106 core:WithinOneYear 2023-12-31 14490106 core:FurnitureFittingsToolsEquipment 2023-12-31 14490106 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14490106

AB Conduit Building Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

AB Conduit Building Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

AB Conduit Building Ltd

(Registration number: 14490106)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,000

8,000

Tangible assets

5

431,064

41,462

 

437,064

49,462

Current assets

 

Stocks

6

121,100

-

Debtors

7

95,639

40,758

Cash at bank and in hand

 

228,942

64,876

 

445,681

105,634

Creditors: Amounts falling due within one year

8

(543,978)

(150,114)

Net current liabilities

 

(98,297)

(44,480)

Total assets less current liabilities

 

338,767

4,982

Creditors: Amounts falling due after more than one year

8

(309,510)

(3,212)

Provisions for liabilities

(25,445)

-

Net assets

 

3,812

1,770

Capital and reserves

 

Called up share capital

200

200

Retained earnings

3,612

1,570

Shareholders' funds

 

3,812

1,770

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

AB Conduit Building Ltd

(Registration number: 14490106)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 4 June 2025
 

.........................................
A B Conduit
Director

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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.

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 35 (2023 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

10,000

10,000

At 31 December 2024

10,000

10,000

Amortisation

At 1 January 2024

2,000

2,000

Amortisation charge

2,000

2,000

At 31 December 2024

4,000

4,000

Net book value

At 31 December 2024

6,000

6,000

At 31 December 2023

8,000

8,000

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

55,283

-

55,283

Additions

115,195

438,102

553,297

Disposals

(10,000)

(12,500)

(22,500)

At 31 December 2024

160,478

425,602

586,080

Depreciation

At 1 January 2024

13,821

-

13,821

Charge for the year

37,294

106,401

143,695

Eliminated on disposal

(2,500)

-

(2,500)

At 31 December 2024

48,615

106,401

155,016

Net book value

At 31 December 2024

111,863

319,201

431,064

At 31 December 2023

41,462

-

41,462

6

Stocks

2024
£

2023
£

Work in progress

98,500

-

Stock

22,600

-

121,100

-

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

80,375

40,758

Other debtors

 

10,000

-

Income tax asset

5,264

-

 

95,639

40,758

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

105,919

5,974

Trade creditors

 

146,720

14,594

Taxation and social security

 

270,609

110,477

Accruals and deferred income

 

7,610

2,620

Other creditors

 

13,120

16,449

 

543,978

150,114

Amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

309,510

3,212

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

309,510

3,212

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

105,919

5,974

 

AB Conduit Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,767

-

Later than one year and not later than five years

5,639

-

12,406

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £6,767 (2023 - £Nil).