REGISTERED NUMBER: 07072741 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 December 2023

for

ABAK Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Ainsworth-Lord

REGISTERED OFFICE:

49 Market Street

Darwen

Lancashire

BB3 1PS

REGISTERED NUMBER:

07072741 (England and Wales)

ACCOUNTANTS:

Len Entwistle Chartered Accountants

Suite 12

Blackburn Business Centre

Davyfield Road

Blackburn

Lancashire

BB1 2QY

FIXED ASSETS

Investments

4

1

1

CURRENT ASSETS

Debtors

5

37,513

52,433

Cash in hand

53,591

67,555

91,104

119,988

CREDITORS

Amounts falling due within one year

6

18,448

17,127

NET CURRENT ASSETS

72,656

102,861

TOTAL ASSETS LESS CURRENT LIABILITIES

72,657

102,862

CREDITORS

Amounts falling due after more than one year

7

15,000

25,000

NET ASSETS

57,657

77,862

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

57,656

77,861

SHAREHOLDERS' FUNDS

57,657

77,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 9 September 2026 and were signed by:

P Ainsworth-Lord - Director

1.	STATUTORY INFORMATION

ABAK Developments 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents rental income from various properties.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 30 December 2022

and 29 December 2023

1

NET BOOK VALUE

At 29 December 2023

1

At 29 December 2022

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.12.23

29.12.22

£

£

Other debtors

37,513

52,433

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.12.23

29.12.22

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

1,319

1,370

Taxation and social security

4,729

3,957

Other creditors

2,400

1,800

18,448

17,127

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.12.23

29.12.22

£

£

Bank loans

15,000

25,000