REGISTERED NUMBER: 02739415 (England and Wales)

ABOVECHANCE LTD

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Director:

Mr J Socha

Secretary:

Orchard Block Management Services Ltd

Registered office:

Artisans House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

02739415 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Tangible assets

4

21,038

21,038

CURRENT ASSETS

Debtors

5

600

5,507

Cash at bank

24,177

13,048

24,777

18,555

CREDITORS

Amounts falling due within one year

6

4,708

4,901

NET CURRENT ASSETS

20,069

13,654

TOTAL ASSETS LESS CURRENT LIABILITIES

41,107

34,692

CAPITAL AND RESERVES

Called up share capital

48

48

Retained earnings

41,059

34,644

SHAREHOLDERS' FUNDS

41,107

34,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2025 and were signed by:

Mr J Socha - Director

1.	STATUTORY INFORMATION

Abovechance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided on land

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Service charge accounts

The company is the headlessor of Latymer Court and as such acts as a trustee of the statutory trust in respect of service charge monies collected for the maintenance of Latymer Court. Income and expenditure arising as a result of these transactions is shown in separate service charge accounts for the property including any cash balances held and do not form part of the annual accounts of the company and are not filed at Companies House.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

Cost

At 1 January 2024

and 31 December 2024

21,038

Net book value

At 31 December 2024

21,038

At 31 December 2023

21,038

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

600

5,267

Other debtors

-

240

600

5,507

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

1,505

1,717

Other creditors

3,203

3,184

4,708

4,901