Abington Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05116577 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Abington Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M L Duarte

REGISTERED OFFICE:

F7A Lynch Lane Offices

Lynch Lane

Weymouth

Dorset

DT4 9DN

REGISTERED NUMBER:

05116577 (England and Wales)

ACCOUNTANTS:

RWB Tax Consultants Limited

F7A Lynch Lane Offices

Lynch Lane

Weymouth

Dorset

DT4 9DN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,858

9,977

Investment property

6

162,285

162,285

175,143

172,262

CURRENT ASSETS

Debtors

7

32,995

11,900

Cash at bank

64,936

108,249

97,931

120,149

CREDITORS

Amounts falling due within one year

8

108,292

166,713

NET CURRENT LIABILITIES

(10,361

)

(46,564

)

TOTAL ASSETS LESS CURRENT LIABILITIES

164,782

125,698

CREDITORS

Amounts falling due after more than one year

9

(78,202

)

(78,224

)

PROVISIONS FOR LIABILITIES

(2,443

)

(1,896

)

NET ASSETS

84,137

45,578

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

84,037

45,478

SHAREHOLDERS' FUNDS

84,137

45,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 21 November 2022 and were signed by:

R M L Duarte - Director

1.	STATUTORY INFORMATION

Abington Construction Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 1 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

2,000

AMORTISATION

At 1 April 2021

and 31 March 2022

2,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

12,592

30,277

593

43,462

Additions

6,041

-

-

6,041

At 31 March 2022

18,633

30,277

593

49,503

DEPRECIATION

At 1 April 2021

10,331

22,651

503

33,485

Charge for year

1,245

1,906

9

3,160

At 31 March 2022

11,576

24,557

512

36,645

NET BOOK VALUE

At 31 March 2022

7,057

5,720

81

12,858

At 31 March 2021

2,261

7,626

90

9,977

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

and 31 March 2022

162,285

NET BOOK VALUE

At 31 March 2022

162,285

At 31 March 2021

162,285

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

31,528

11,900

VAT

1,467

-

32,995

11,900

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

45,370

50,000

Trade creditors

6,729

-

Tax

12,720

5,909

VAT

-

8,110

Other creditors

-

11,710

CIS creditor

1,140

502

Directors' current accounts

41,233

89,382

Accrued expenses

1,100

1,100

108,292

166,713

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans more 5 yr by instal

78,202

78,224

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

78,202

78,224

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22

31.3.21

£

£

R M L Duarte

Balance outstanding at start of year

(89,382

)

(86,620

)

Amounts advanced

66,149

-

Amounts repaid

(18,000

)

(2,762

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(41,233

)

(89,382

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R M L Duarte.