Company registration number 01992349 (England and Wales)
ABAS DRYLINING & CONSTRUCTION CO. LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
ABAS DRYLINING & CONSTRUCTION CO. LTD
COMPANY INFORMATION
Directors
Mr C V Agoston-Vas
Mrs L V Agoston-Vas
Company number
01992349
Registered office
Melrose House
Pynes Hill
Rydon Lane
Exeter
Devon
EX2 5AZ
Accountants
Streets Bush Limited
Melrose House
Pynes Hill
Rydon Lane
Exeter
Devon
EX2 5AZ
ABAS DRYLINING & CONSTRUCTION CO. LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ABAS DRYLINING & CONSTRUCTION CO. LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,901
586
Current assets
Debtors
4
863,618
857,683
Cash at bank and in hand
13,087
23,967
876,705
881,650
Creditors: amounts falling due within one year
5
(38,583)
(38,493)
Net current assets
838,122
843,157
Total assets less current liabilities
842,023
843,743
Creditors: amounts falling due after more than one year
6
(2,274)
(12,527)
Provisions for liabilities
(932)
(140)
Net assets
838,817
831,076
Capital and reserves
Called up share capital
50
50
Capital redemption reserve
50
50
Retained earnings
838,717
830,976
Total equity
838,817
831,076
ABAS DRYLINING & CONSTRUCTION CO. LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 March 2026 and are signed on its behalf by:
Mr C V Agoston-Vas
Mrs L V Agoston-Vas
Director
Director
Company Registration No. 01992349
ABAS DRYLINING & CONSTRUCTION CO. LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Abas Drylining & Construction Co. Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Melrose House, Pynes Hill, Rydon Lane, Exeter, Devon, EX2 5AZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is adjusted to reflect any un-invoiced work carried out on contracts and amounts held by contractors as retentions.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Other
Plant and equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ABAS DRYLINING & CONSTRUCTION CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial instruments are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts/payments discounted at a market rate of interest. Financial instruments classified as receivable or payable within one year are not amortised.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ABAS DRYLINING & CONSTRUCTION CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.6

Secured debts

Lloyds Bank PLC holds an unlimited debenture dated 20 August 1990 as security against overdraft facilities available to the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2024
9,091
59,519
68,610
Additions
-
0
4,910
4,910
At 28 February 2025
9,091
64,429
73,520
Depreciation and impairment
At 1 March 2024
9,091
58,932
68,023
Depreciation charged in the year
-
0
1,596
1,596
At 28 February 2025
9,091
60,528
69,619
Carrying amount
At 28 February 2025
-
0
3,901
3,901
At 29 February 2024
-
0
586
586
ABAS DRYLINING & CONSTRUCTION CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
206,905
171,360
Other debtors
656,713
686,323
863,618
857,683
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,226
9,974
Trade creditors
2,567
5,035
Taxation and social security
20,217
17,034
Other creditors
5,573
6,450
38,583
38,493
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,274
12,527

Related party transactions

At the year end, Mr & Mrs Agoston-Vas owed the company £1,285 (2024 £0). There are no fixed terms of repayment and no interest has been charged.

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