Abrant Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01374293 (England and Wales)

ABRANT LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

J Hodgkin

J James

S Kaszubowski

I H Logan

P A C Marber

C R Wentworth-Stanley

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

01374293 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

-

-

Investment property

5

930,000

1,100,000

930,000

1,100,000

Current assets

Debtors

6

103,226

82,357

Cash at bank

104,698

110,003

207,924

192,360

Creditors

Amounts falling due within one year

7

31,978

30,651

Net current assets

175,946

161,709

Total assets less current liabilities

1,105,946

1,261,709

Provisions for liabilities

173,826

206,126

Net assets

932,120

1,055,583

Capital and reserves

Called up share capital

8

14

14

Revaluation reserve

9

741,047

878,747

Retained earnings

9

191,059

176,822

Shareholders' funds

932,120

1,055,583

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 directors acknowledge their 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 Board of Directors and authorised for issue on 19 December 2022 and were signed on its behalf by:

J Hodgkin - Director

1.	Statutory information

Abrant 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 as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover

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

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

3.	Employees and directors

The average number of employees during the year was 6 (2021 - 9 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2021

6,647

Disposals

(6,647

)

At 31 March 2022

-

Depreciation

At 1 April 2021

6,647

Eliminated on disposal

(6,647

)

At 31 March 2022

-

Net book value

At 31 March 2022

-

At 31 March 2021

-

5.	Investment property

Total

£

Cost or valuation

At 1 April 2021

1,100,000

Revaluations

(170,000

)

At 31 March 2022

930,000

Net book value

At 31 March 2022

930,000

At 31 March 2021

1,100,000

The directors assessed the valuation of the investment property at the year-end and consider the current value represents an open market value on an existing use basis.

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Other debtors

103,226

82,357

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

818

-

Taxation and social security

12,793

23,451

Other creditors

18,367

7,200

31,978

30,651

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

14

Ordinary shares

£1

14

14

9.

Reserves

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2021

176,822

878,747

1,055,569

Deficit for the year

(123,463

)

(123,463

)

Movement in revaluation

137,700

(137,700

)

-

At 31 March 2022

191,059

741,047

932,106

Included in reserves, an amount of £741,047 (2021: £878,747) relates to the revaluation of investment property after making provision for deferred tax. This balance is not distributable until the property is sold.