REGISTERED NUMBER: 13520431 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

ABS Build Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S C Nugent

T Courtney

N R L Wood

REGISTERED OFFICE:

25 Hampstead Avenue

Mildenhall

Suffolk

IP28 7AS

REGISTERED NUMBER:

13520431 (England and Wales)

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

5

62,111

79,666

CURRENT ASSETS

Stocks

452,032

520,537

Debtors

6

1,293,658

339,293

Cash at bank

144,250

175,697

1,889,940

1,035,527

CREDITORS

Amounts falling due within one year

7

1,905,357

1,060,137

NET CURRENT LIABILITIES

(15,417

)

(24,610

)

TOTAL ASSETS LESS CURRENT LIABILITIES

46,694

55,056

CREDITORS

Amounts falling due after more than one year

8

46,594

54,956

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

10

100

100

SHAREHOLDERS' FUNDS

100

100

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

N R L Wood - Director

1.	STATUTORY INFORMATION

ABS Build Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The company has the full continued support of the group and the directors are therefore satisfied that it is appropriate to prepare the financial statements on the going concern basis.

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.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company's accounting policies

The following are the critical judgements, including those involving estimations, that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Outcome of long term contracts

Profit recognised on long term contracts is based on the estimated margin of the contract at completion. This margin is estimated by the directors using their knowledge of the industry and the specific contracts.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

In the case of long term contracts, turnover represents the certificated work done in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

4 years straight line

Motor vehicles

-

4 years straight line

Stock and work-in-progress

Work in progress is measured at the lower of cost and net realisable value. For long term contracts, work in progress is calculated on a margin basis as described in further detail in the accounting policy for long term contracts.

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, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

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 Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

Long term contracts

The attributable profit on long term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.

Costs associated with long term contracts are included in stock to the extent that they cannot be matched with contract work accounted for as turnover. Long term contract balances included in stocks are stated at cost, after provision has been made for any foreseeable losses and the deduction of applicable payments on account.

Full provision is made for losses on all contracts in the year in which the loss is first foreseen.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

90,500

Additions

6,315

At 31 December 2024

96,815

DEPRECIATION

At 1 January 2024

10,834

Charge for year

23,870

At 31 December 2024

34,704

NET BOOK VALUE

At 31 December 2024

62,111

At 31 December 2023

79,666

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

67,500

DEPRECIATION

At 1 January 2024

8,438

Charge for year

16,875

At 31 December 2024

25,313

NET BOOK VALUE

At 31 December 2024

42,187

At 31 December 2023

59,062

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

556,945

133,934

Amounts owed by group undertakings

580,828

205,189

Other debtors

518

170

1,138,291

339,293

2024

2023

£

£

Amounts falling due after more than one year:

Trade debtors

155,367

-

Aggregate amounts

1,293,658

339,293

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

8,362

8,363

Trade creditors

1,185,864

529,011

Taxation and social security

542,123

337,994

Other creditors

169,008

184,769

1,905,357

1,060,137

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

46,594

54,956

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

54,956

63,319

The hire purchase liabilities are secured on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Knights BSc ACA (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

12.	ULTIMATE CONTROLLING PARTY

13.	CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS

Even though the company has net current liabilities at the balance sheet date, these financial statements have been prepared on the going concern basis. The directors are of the opinion that it is appropriate to prepare the accounts on the going concern basis, since the company has the full support of the group.