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REGISTERED NUMBER: 07136386 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

ABSOLUTE AUTOMATION LIMITED

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABSOLUTE AUTOMATION LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: R Newey
S J Potter





REGISTERED OFFICE: Unit 19 Silver Birches Business Park
Aston Road
Bromsgrove
Worcestershire
B60 3EU





REGISTERED NUMBER: 07136386 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,248 4,877

CURRENT ASSETS
Stocks 121,500 132,138
Debtors 5 920,929 585,320
Cash at bank and in hand 49,049 25,697
1,091,478 743,155
CREDITORS
Amounts falling due within one year 6 935,744 661,661
NET CURRENT ASSETS 155,734 81,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,982

86,371

CREDITORS
Amounts falling due after more than one
year

7

(58,000

)

(82,000

)

PROVISIONS FOR LIABILITIES 10 (2,288 ) (1,482 )
NET ASSETS 102,694 2,889

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,594 2,789
SHAREHOLDERS' FUNDS 102,694 2,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

BALANCE SHEET - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





R Newey - Director


ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Absolute Automation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 10 ) .

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022 10,030 1,257 11,287
Additions - 6,339 6,339
At 31 January 2023 10,030 7,596 17,626
DEPRECIATION
At 1 February 2022 5,531 879 6,410
Charge for year 2,507 1,461 3,968
At 31 January 2023 8,038 2,340 10,378
NET BOOK VALUE
At 31 January 2023 1,992 5,256 7,248
At 31 January 2022 4,499 378 4,877

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 889,743 541,672
Amounts owed by group undertakings 5,294 26,883
Directors' loan accounts - 3,466
Prepayments 25,892 13,299
920,929 585,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 24,000 24,000
Trade creditors 702,805 566,359
Amounts owed to group undertakings 114,944 -
Tax 65,794 -
Social security and other taxes 6,601 57,952
Other creditors 10,948 3,025
Accrued expenses 10,652 10,325
935,744 661,661

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 58,000 82,000

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 24,000 24,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 24,000 24,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 34,000 58,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 13,078 19,221
Between one and five years 14,035 14,495
27,113 33,716

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,288 1,482

Deferred
tax
£   
Balance at 1 February 2022 1,482
Provided during year 806
Balance at 31 January 2023 2,288

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
R Newey
Balance outstanding at start of year 1,733 2,305
Amounts repaid (1,733 ) (572 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,733

ABSOLUTE AUTOMATION LIMITED (REGISTERED NUMBER: 07136386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S J Potter
Balance outstanding at start of year 1,733 2,305
Amounts repaid (1,733 ) (572 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,733

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Absolute Automation Group Ltd.