Albert Abbott Limited - Filleted accounts

Registered number

05045022

Albert Abbott Limited

Filleted Accounts

28 February 2025

Albert Abbott Limited
Registered number:		05045022
Balance Sheet
as at 28 February 2025

	Notes		2025		2024
			£		£
Fixed assets
Tangible assets	3		105,751		59,455

Current assets
Stocks		150,265		14,439
Debtors	4	3,126,247		3,221,506
Cash at bank and in hand		11,522		11,852
		3,288,034		3,247,797

Creditors: amounts falling due within one year	5	(2,944,801)		(2,934,863)

Net current assets			343,233		312,934

Total assets less current liabilities			448,984		372,389

Creditors: amounts falling due after more than one year	6		(17,281)		(21,331)

Provisions for liabilities			(21,105)		(12,579)


Net assets			410,598		338,479

Capital and reserves
Called up share capital			2,000		2,000
Profit and loss account			408,598		336,479

Shareholders' funds			410,598		338,479

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr P Rowbottom
Director
Approved by the board on 26 November 2025

Albert Abbott Limited
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery etc	15% reducing balance
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2025	2024
			Number	Number

	Average number of persons employed by the company		2	2


3	Tangible fixed assets
		Plant and machinery etc	Motor vehicles	Total
		£	£	£
	Cost
	At 1 March 2024	123,858	3,300	127,158
	Additions	65,250	-	65,250
	At 28 February 2025	189,108	3,300	192,408

	Depreciation
	At 1 March 2024	66,878	825	67,703
	Charge for the year	18,335	619	18,954
	At 28 February 2025	85,213	1,444	86,657

	Net book value
	At 28 February 2025	103,895	1,856	105,751
	At 29 February 2024	56,980	2,475	59,455


4	Debtors		2025	2024
			£	£

	Trade debtors		3,081,816	3,206,996
	Other debtors		44,431	14,510
			3,126,247	3,221,506


5	Creditors: amounts falling due within one year		2025	2024
			£	£

	Bank loans and overdrafts		155,905	233,252
	Obligations under finance lease and hire purchase contracts		20,429	6,683
	Trade creditors		2,738,454	2,655,748
	Taxation and social security costs		15,964	23,854
	Other creditors		14,049	15,326
			2,944,801	2,934,863

	Bank loans and overdrafts National Westminster Bank plc holds a debenture granted by Albert Abbott Limited to secure the bank overdraft facility. Obligations under finance lease and hire purchase contracts The finance agreements are secured against the goods to which they relate.

6	Creditors: amounts falling due after one year		2025	2024
			£	£

	Bank loans		3,531	13,949
	Obligations under finance lease and hire purchase contracts		13,750	7,382
			17,281	21,331

	Obligations under finance lease and hire purchase contracts The finance agreements are secured against the goods to which they relate.

7	Other financial commitments		2025	2024
			£	£

	Total future minimum payments under non-cancellable operating leases		3,807	5,818


8	Related party transactions

	Bank loans and overdrafts National Westminster Bank plc holds a personal guarantee granted by the director who is liable for the obligations of Albert Abbott Limited up to a limit of £410,000.


9	Other information

	Albert Abbott Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Orchard View, Booths Hall Farm
	Ipstones
	Stoke-on-Trent
	Staffordshire
	ST10 2JP