Absolute Electrical Services Limited 04431064 false 2021-06-01 2022-05-31 2022-05-31 The principal activity of the company is electrical installation Digita Accounts Production Advanced 6.30.9574.0 true 04431064 2021-06-01 2022-05-31 04431064 2022-05-31 04431064 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-05-31 04431064 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2022-05-31 04431064 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2022-05-31 04431064 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2022-05-31 04431064 core:RetainedEarningsAccumulatedLosses 2022-05-31 04431064 core:ShareCapital 2022-05-31 04431064 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-05-31 04431064 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-05-31 04431064 core:CurrentFinancialInstruments 2022-05-31 04431064 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 04431064 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 04431064 core:FurnitureFittingsToolsEquipment 2022-05-31 04431064 core:MotorVehicles 2022-05-31 04431064 bus:SmallEntities 2021-06-01 2022-05-31 04431064 bus:AuditExemptWithAccountantsReport 2021-06-01 2022-05-31 04431064 bus:FullAccounts 2021-06-01 2022-05-31 04431064 bus:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 04431064 bus:RegisteredOffice 2021-06-01 2022-05-31 04431064 bus:Director1 2021-06-01 2022-05-31 04431064 bus:Director2 2021-06-01 2022-05-31 04431064 bus:Director3 2021-06-01 2022-05-31 04431064 bus:Director4 2021-06-01 2022-05-31 04431064 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2021-06-01 2022-05-31 04431064 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2021-06-01 2022-05-31 04431064 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2021-06-01 2022-05-31 04431064 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2021-06-01 2022-05-31 04431064 bus:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 04431064 bus:Agent1 2021-06-01 2022-05-31 04431064 core:FurnitureFittingsToolsEquipment 2021-06-01 2022-05-31 04431064 core:MotorVehicles 2021-06-01 2022-05-31 04431064 core:PlantMachinery 2021-06-01 2022-05-31 04431064 countries:AllCountries 2021-06-01 2022-05-31 04431064 2021-05-31 04431064 core:FurnitureFittingsToolsEquipment 2021-05-31 04431064 core:MotorVehicles 2021-05-31 04431064 2020-06-01 2021-05-31 04431064 2021-05-31 04431064 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2021-05-31 04431064 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2021-05-31 04431064 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2021-05-31 04431064 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2021-05-31 04431064 core:RetainedEarningsAccumulatedLosses 2021-05-31 04431064 core:ShareCapital 2021-05-31 04431064 core:HirePurchaseContracts core:CurrentFinancialInstruments 2021-05-31 04431064 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2021-05-31 04431064 core:CurrentFinancialInstruments 2021-05-31 04431064 core:CurrentFinancialInstruments core:WithinOneYear 2021-05-31 04431064 core:Non-currentFinancialInstruments core:AfterOneYear 2021-05-31 04431064 core:FurnitureFittingsToolsEquipment 2021-05-31 04431064 core:MotorVehicles 2021-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04431064

Absolute Electrical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2022

 

Absolute Electrical Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Absolute Electrical Services Limited

Company Information




 

Directors

Lynne Diane Tongs

Tracey Joy Luff

Trevor Brian Luff

Kelvin Richard Tongs

Registered office

Unit 1a Fernacre Business Park
Budds Lane
Romsey
SO51 0HA

 

Accountants

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ



 

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Absolute Electrical Services Limited
for the Year Ended 31 May 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Absolute Electrical Services Limited for the year ended 31 May 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Absolute Electrical Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Absolute Electrical Services Limited and state those matters that we have agreed to state to the Board of Directors of Absolute Electrical Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Electrical Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Absolute Electrical Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Absolute Electrical Services Limited. You consider that Absolute Electrical Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Absolute Electrical Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

12 September 2022

 

Absolute Electrical Services Limited

(Registration number: 04431064)
Balance Sheet as at 31 May 2022

Note

2022

2021

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

93,263

 

129,027

Current assets

   

 

Stocks

8,000

 

5,000

 

Debtors

5

141,025

 

117,050

 

Cash at bank and in hand

 

71,594

 

81,909

 

 

220,619

 

203,959

 

Creditors: Amounts falling due within one year

6

(136,592)

 

(105,098)

 

Net current assets

   

84,027

 

98,861

Total assets less current liabilities

   

177,290

 

227,888

Creditors: Amounts falling due after more than one year

6

 

(21,626)

 

(45,540)

Provisions for liabilities

 

(17,938)

 

(24,515)

Net assets

   

137,726

 

157,833

Capital and reserves

   

 

Called up share capital

7

4

 

4

 

Profit and loss account

137,722

 

157,829

 

Total equity

   

137,726

 

157,833

 

Absolute Electrical Services Limited

(Registration number: 04431064)
Balance Sheet as at 31 May 2022

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................
Kelvin Richard Tongs
Director

 

Absolute Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1a Fernacre Business Park
Budds Lane
Romsey
SO51 0HA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Absolute Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery etc

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2021 - 9).

 

Absolute Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2021

16,261

199,227

215,488

Additions

-

24,990

24,990

Disposals

(3,097)

(27,513)

(30,610)

At 31 May 2022

13,164

196,704

209,868

Depreciation

At 1 June 2021

10,056

76,405

86,461

Charge for the year

1,552

46,099

47,651

Eliminated on disposal

(2,604)

(14,903)

(17,507)

At 31 May 2022

9,004

107,601

116,605

Carrying amount

At 31 May 2022

4,160

89,103

93,263

At 31 May 2021

6,205

122,822

129,027

5

Debtors

Current

2022
£

2021
£

Trade debtors

130,633

109,536

Prepayments

6,110

2,959

Other debtors

4,282

4,555

 

141,025

117,050

 

Absolute Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

20,067

33,434

Trade creditors

 

39,352

27,321

Taxation and social security

 

38,361

33,056

Accruals and deferred income

 

1,500

1,500

Other creditors

 

37,312

9,787

 

136,592

105,098

Creditors include net obligations under finance lease and hire purchase contracts which are secured against company vehicles of £20,067 (2021 - £33,434).

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

21,626

45,540

Creditors include net obligations under finance lease and hire purchase contracts which are secured against company vehicles of £21,626 (2021 - £45,540).

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

 

4

4

4

4

 

Absolute Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £23,500 (2021 - £38,000).

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Hire purchase contracts

21,626

45,540

2022
£

2021
£

Current loans and borrowings

Hire purchase contracts

20,067

33,434