REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 SEPTEMBER 2019 TO 28 FEBRUARY 2021 |
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FOR |
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AABRS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 SEPTEMBER 2019 TO 28 FEBRUARY 2021 |
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FOR |
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AABRS LIMITED |
AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 September 2019 to 28 February 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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AABRS LIMITED |
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COMPANY INFORMATION |
for the Period 1 September 2019 to 28 February 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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STATEMENT OF FINANCIAL POSITION |
28 February 2021 |
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28.2.21 | 31.8.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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STATEMENT OF FINANCIAL POSITION - continued |
28 February 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 September 2019 to 28 February 2021 |
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1. | STATUTORY INFORMATION |
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AABRS Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised once the service has been provided. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery etc - 30% Reducing balance |
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Government grants |
Government grants are recognised once there is reasonable assurance that: |
a) the entity will comply with the conditions attaching to them; and |
b) the grants will be received. |
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The entity shall recognise the grants on the accruals model. Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
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Alternatively if a grant that becomes receivable as compensation for expenses or losses already incurred of for the purpose of giving immediate financial support this shall be recognised in income in the period in which it becomes receivable. |
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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, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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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 the Statement of Comprehensive Income. |
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AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 September 2019 to 28 February 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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Impairments of assets |
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A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date. |
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Employee benefits |
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The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
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The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received. |
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Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 September 2019 to 28 February 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2019 |
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Additions |
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At 28 February 2021 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for period |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 31 August 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.21 | 31.8.19 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.21 | 31.8.19 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Included in other creditors due within one year are accrued expenses of £Nil (Aug 2019: £30,936) |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.21 | 31.8.19 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 20,417 | - |
AABRS LIMITED (REGISTERED NUMBER: 07644635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 September 2019 to 28 February 2021 |
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8. | OTHER FINANCIAL COMMITMENTS |
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The company has financial commitments at the year end of £5,113 (Aug 2019: £12,198). |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of parent company, J E L Solutions Limited, an entity registered in England and Wales, and the registered office is Langley House, Park Road, London, N2 8EY |
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