| ABS Airconditioning Limited |
| Registered number: |
06764296 |
| Balance Sheet |
| as at 31 December 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
387 |
|
|
580 |
|
| Current assets |
| Debtors |
4 |
|
8,296 |
|
|
10,741 |
| Cash at bank and in hand |
|
|
2,385 |
|
|
1,463 |
|
|
|
10,681 |
|
|
12,204 |
|
| Creditors: amounts falling due within one year |
5 |
|
(11,005) |
|
|
(12,001) |
|
| Net current (liabilities)/assets |
|
|
|
(324) |
|
|
203 |
|
| Net assets |
|
|
|
63 |
|
|
783 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
61 |
|
|
781 |
|
| Shareholders' funds |
|
|
|
63 |
|
|
783 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| S A Crowhurst, Esq |
| Director |
| Approved by the board on 30 September 2021 |
|
| ABS Airconditioning Limited |
| Notes to the Accounts |
| for the year ended 31 December 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract, which is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 4 years |
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2020 |
3,273 |
|
At 31 December 2020 |
3,273 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2020 |
2,693 |
|
Charge for the year |
193 |
|
At 31 December 2020 |
2,886 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2020 |
387 |
|
At 31 December 2019 |
580 |
|
|
| 4 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Trade debtors |
- |
|
1,523 |
|
CIS repayable |
|
|
|
|
8,296 |
|
9,218 |
|
|
|
|
|
|
8,296 |
|
10,741 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Taxation and social security costs |
876 |
|
4,909 |
|
Other creditors |
10,129 |
|
7,092 |
|
|
|
|
|
|
11,005 |
|
12,001 |
|
|
|
|
|
|
|
|
|
|
Included in creditors is £7,099 (2019: £2,172) owing to the director. The loan is interest-free and there is no fixed date of repayment. The director has confirmed that the loan will only be repaid as and when cash flow permits. |
|
|
| 6 |
Events after the reporting date |
|
|
The Director has considered the impact of COVID 19 on the company and its sustainability. The impact of the pandemic in 2020 has only affected turnover over the short term, but the Director, however, has concluded that there will not be any long term damage to the viability of the company and has therefore not considered it necessary to make any adjustments to the accounts. The Director has not taken advantage of certain of the Government support packages. |
|
|
| 7 |
Controlling party |
|
|
The company is controlled by the director and his wife who own the entire share capital of the company. |
|
|
| 8 |
Other information |
|
|
ABS Airconditioning Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
3rd Floor, Devonshire House |
|
Manor Way |
|
Borehamwood |
|
Hertfordshire |
|
WD6 1QQ |
