ABM Precast Solutions Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05477483

ABM PRECAST SOLUTIONS LTD

FILLETED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2024

ABM PRECAST SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION

31 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		551,452	637,840

Current assets

Stocks		134,643	436,564
Debtors	6	4,249,699	1,872,324
Cash at bank and in hand		1,225,716	1,134,339
		--------------	--------------
		5,610,058	3,443,227

Creditors: amounts falling due within one year	7	( 4,812,260)		( 2,617,732)
		--------------		--------------
Net current assets			797,798	825,495
			--------------	--------------
Total assets less current liabilities			1,349,250	1,463,335

Creditors: amounts falling due after more than one year	8		( 13,750)	( 46,462)

Provisions

Taxation including deferred tax	( 36,232)	( 48,257)
	--------------	--------------
Net assets	1,299,268	1,368,616
	--------------	--------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	1,299,267	1,368,615
	--------------	--------------
Shareholders funds	1,299,268	1,368,616
	--------------	--------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

ABM PRECAST SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 1 October 2025 , and are signed on behalf of the board by:

S Minihane

Director

Company registration number: 05477483

ABM PRECAST SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Walkers Industrial Estate, Ollerton Road, Tuxford, Newark, Nottinghamshire, NG22 0PQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have considered whether the financial statements should be prepared on a going concern basis, taking into account the points raised in the events after the end of the reporting period note. Based on the directors review of cashflow forecasts the directors do not believe there is any material uncertainty and therefore continue to adopt the going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: We do not consider there to be any significant judgements within the financial statements for disclosure. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Depreciation charges The annual depreciation charge for tangible assets is sensitive to changes in the useful economic lives and residual values of the assets. These are reviewed periodically by the directors to ensure that they reflect both external and internal factors. (ii) Long term contracts The company operates long term contracts and therefore management are required to recognise profit as the job progresses. In order to do this management review the expected revenue and costs on a job by job basis and recognise the relevant profits on the basis of the stage of completion, taking into account their best estimate of completion costs. Where a job is expected to make a loss then the full loss is immediately recognised in the profit and loss account.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	10% straight line
Plant and machinery	-	12.5% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 39 (2023: 57 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 November 2023	81,987	2,162,878	98,425	70,387	2,413,677
Additions	11,701	45,746	43,200	–	100,647
Disposals	–	( 29,240)	( 36,645)	( 48,849)	( 114,734)
	---------	--------------	-----------	---------	--------------
At 31 October 2024	93,688	2,179,384	104,980	21,538	2,399,590
	---------	--------------	-----------	---------	--------------
Depreciation
At 1 November 2023	12,274	1,641,231	62,912	59,420	1,775,837
Charge for the year	8,969	136,927	23,906	6,094	175,896
Disposals	–	( 25,084)	( 30,973)	( 47,538)	( 103,595)
	---------	--------------	-----------	---------	--------------
At 31 October 2024	21,243	1,753,074	55,845	17,976	1,848,138
	---------	--------------	-----------	---------	--------------
Carrying amount
At 31 October 2024	72,445	426,310	49,135	3,562	551,452
	---------	--------------	-----------	---------	--------------
At 31 October 2023	69,713	521,647	35,513	10,967	637,840
	---------	--------------	-----------	---------	--------------

6. Debtors

	2024	2023
	£	£
Trade debtors	1,603,019	1,436,836
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,539,515	382,138
Other debtors	1,107,165	53,350
	--------------	--------------
	4,249,699	1,872,324
	--------------	--------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,213,556	795,848
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	21,943
Social security and other taxes	80,840	344,137
Other creditors	3,517,864	1,455,804
	--------------	--------------
	4,812,260	2,617,732
	--------------	--------------

Included within other creditors are hire purchase liabilities of £33,858 (2023: £59,895) which are secured on the relevant assets.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	13,750	46,462
	---------	---------

Included within other creditors are hire purchase liabilities of £13,750 (2023: £46,462) which are secured on the relevant assets.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	33,188	26,301
Later than 1 year and not later than 5 years	29,680	48,527
	---------	---------
	62,868	74,828
	---------	---------

10. Events after the end of the reporting period

Subsequent to the year end, a legal matter was concluded not in the company's favour. These financial statements include accruals for all costs associated with this matter based on the final settlement. No additional costs are expected to be recognised in the following period.

11. Summary audit opinion

The auditor's report dated 1 October 2025 was unqualified .

The senior statutory auditor was Robert Anderson , for and on behalf of Streets Audit LLP .

12. Related party transactions

The company has taken advantage of the exemption in FRS 102 not to disclose transactions with the parent company or other wholly-owned subsidiaries of the group.

13. Controlling party

ABM Investment Limited is the immediate parent company. The ultimate holding company is Blooma Limited, registered in Ireland. Copies of their financial statements can be obtained from Unit 2B Feltrim Business Park, Drynam Road, Swords, Co Dublin K6, TX95, Ireland.