COMPANY REGISTRATION NUMBER:
00958331
ABACUS PRINTING COMPANY LIMITED
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Filleted Unaudited Financial Statements
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ABACUS PRINTING COMPANY LIMITED
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31 March 2022
Current assets
Debtors
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5
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2,255
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|
3,774
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Cash at bank and in hand
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1,409,751
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1,744,574
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------------
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------------
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1,412,006
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1,748,348
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|
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Creditors: amounts falling due within one year
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6
|
(
13,080)
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(
14,441)
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------------
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------------
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Net current assets
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1,398,926
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1,733,907
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------------
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------------
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Total assets less current liabilities
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1,398,926
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1,733,907
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------------
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Net assets
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1,398,926
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1,733,907
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------------
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------------
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Capital and reserves
Called up share capital
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100
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100
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Profit and loss account
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1,398,826
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1,733,807
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------------
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------------
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Shareholders funds
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1,398,926
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1,733,907
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------------
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------------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
13 September 2022
, and are signed on behalf of the board by:
Company registration number:
00958331
ABACUS PRINTING COMPANY LIMITED
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Notes to the Financial Statements
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Year ended 31st March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Bruce Grove, Tottenham, London, N17 6RA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Contributions are recognised in profit or loss as they become payable.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2021:
6
).
5.
Debtors
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2022
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2021
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£
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£
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Prepayments and accrued income
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250
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1,769
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Other debtors
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2,005
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2,005
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-------
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-------
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2,255
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3,774
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-------
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-------
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6.
Creditors:
amounts falling due within one year
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2022
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2021
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£
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£
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Trade creditors
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22
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1,519
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Accruals and deferred income
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3,588
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3,901
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Social security and other taxes
|
9,470
|
9,021
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13,080
|
14,441
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