Registered number
09595088
ABSOLUTE CONTENT LIMITED
Filleted Accounts
31 May 2023
ABSOLUTE CONTENT LIMITED
Registered number: 09595088
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,417 11,222
Current assets
Debtors 4 130,132 112,448
Cash at bank and in hand 15,512 24,805
145,644 137,253
Creditors: amounts falling due within one year 5 (23,572) (46,741)
Net current assets 122,072 90,512
Total assets less current liabilities 130,489 101,734
Creditors: amounts falling due after more than one year 6 - (12,266)
Provisions for liabilities (1,599) (2,133)
Net assets 128,890 87,335
Capital and reserves
Called up share capital 9 9
Profit and loss account 128,881 87,326
Shareholders' funds 128,890 87,335
The directors are 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 directors acknowledge their 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.
A Smart
Director
Approved by the board on 21 August 2023
ABSOLUTE CONTENT LIMITED
Notes to the Accounts
for the year ended 31 May 2023
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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract 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 25% reducing balance
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 1,398 18,691 20,089
At 31 May 2023 1,398 18,691 20,089
Depreciation
At 1 June 2022 689 8,178 8,867
Charge for the year 177 2,628 2,805
At 31 May 2023 866 10,806 11,672
Net book value
At 31 May 2023 532 7,885 8,417
At 31 May 2022 709 10,513 11,222
4 Debtors 2023 2022
£ £
Trade debtors - 8,920
Other debtors 130,132 103,528
130,132 112,448
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 3,084
Taxation and social security costs 20,550 42,399
Other creditors 3,022 1,258
23,572 46,741
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 12,266
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Smart
Loan repayable on demand 79,361 74,283 (49,898) 103,746
79,361 74,283 (49,898) 103,746
8 Controlling party
A Smrt was the controlling party throughout the period.
9 Other information
ABSOLUTE CONTENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
12 Poplars Court
Lenton Lane
Nottingham
NG7 2RR
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