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Registered number: 12766576
Abacus Flooring Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Association of Chartered Certified Accountants (ACCA)
Key Accountants
Office 5, The Forest Rock Offices
Leicester Road, Whitwick
Leicestershire
LE67 5GQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12766576
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 145,497 169,658
145,497 169,658
CURRENT ASSETS
Stocks 5 38,978 22,000
Debtors 6 225,966 96,479
Cash at bank and in hand 184,282 164,504
449,226 282,983
Creditors: Amounts Falling Due Within One Year 7 (209,365 ) (71,462 )
NET CURRENT ASSETS (LIABILITIES) 239,861 211,521
TOTAL ASSETS LESS CURRENT LIABILITIES 385,358 381,179
Creditors: Amounts Falling Due After More Than One Year 8 (35,475 ) (52,845 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,250 ) (33,500 )
NET ASSETS 314,633 294,834
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 314,533 294,734
SHAREHOLDERS' FUNDS 314,633 294,834
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Megson
Director
Mr Nicholas Megson
Director
30th September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Abacus Flooring Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12766576 . The registered office is Unit 2 Cloudway Court, Belton Road, Loughborough, Leicestershire, LE11 1LW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 9)
7 9
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 7,275 92,330 136,930 3,463
Additions 1,339 23,461 135,865 392
Disposals - - (181,561 ) -
As at 31 March 2025 8,614 115,791 91,234 3,855
Depreciation
As at 1 April 2024 1,455 20,852 47,167 1,468
Provided during the period 1,723 14,241 18,928 596
Disposals - - (31,648 ) -
As at 31 March 2025 3,178 35,093 34,447 2,064
Net Book Value
As at 31 March 2025 5,436 80,698 56,787 1,791
As at 1 April 2024 5,820 71,478 89,763 1,995
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 April 2024 5,023 245,021
Additions 999 162,056
Disposals - (181,561 )
As at 31 March 2025 6,022 225,516
Depreciation
As at 1 April 2024 4,421 75,363
Provided during the period 816 36,304
Disposals - (31,648 )
As at 31 March 2025 5,237 80,019
Net Book Value
As at 31 March 2025 785 145,497
As at 1 April 2024 602 169,658
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 33,964 58,260
5. Stocks
2025 2024
£ £
Stock 38,978 22,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 205,139 61,609
Prepayments and accrued income 15,077 10,862
Other debtors 5,750 7,186
Corporation tax recoverable assets - 14,847
Amounts owed by other participating interests - 1,975
225,966 96,479
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,055 20,554
Trade creditors 28,535 38,207
Corporation tax 49,274 -
Other taxes and social security 15,685 9,863
VAT 29,697 1,043
Accruals and deferred income 8,143 1,500
Directors' loan accounts 16,278 295
Amounts owed to other participating interests 52,698 -
209,365 71,462
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 35,475 52,845
9. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 44,530 73,399
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,055 20,554
Later than one year and not later than five years 35,475 52,845
44,530 73,399
44,530 73,399
11. Share Capital
2025 2024
Allotted, called up and fully paid £ £
80 Ordinary Shares of £ 1.00 each 80 80
20 Ordinary A shares of £ 1.00 each 20 20
100 100
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