IRIS Accounts Production v23.3.0.418 03568676 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false Ordinary 0.01000 Ordinary 'A' 0.01000 Ordinary 'C' 0.01000 Ordinary 'D' 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035686762022-07-31035686762023-07-31035686762022-08-012023-07-31035686762021-07-31035686762021-08-012022-07-31035686762022-07-3103568676ns10:Originalns15:EnglandWales2022-08-012023-07-3103568676ns14:PoundSterlingns10:Original2022-08-012023-07-3103568676ns10:Originalns10:Director12022-08-012023-07-3103568676ns10:Original2022-08-012023-07-3103568676ns10:Original2023-07-3103568676ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3103568676ns10:Originalns10:SmallEntities2022-08-012023-07-3103568676ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3103568676ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3103568676ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3103568676ns10:Originalns10:FullAccounts2022-08-012023-07-3103568676ns10:Originalns10:OrdinaryShareClass12022-08-012023-07-3103568676ns10:Originalns10:OrdinaryShareClass22022-08-012023-07-3103568676ns10:OrdinaryShareClass3ns10:Original2022-08-012023-07-3103568676ns10:Originalns10:OrdinaryShareClass52022-08-012023-07-3103568676ns10:Originalns10:Director22022-08-012023-07-3103568676ns10:Originalns10:Director32022-08-012023-07-3103568676ns10:Originalns10:Director42022-08-012023-07-3103568676ns10:CompanySecretary1ns10:Original2022-08-012023-07-3103568676ns10:Originalns10:RegisteredOffice2022-08-012023-07-3103568676ns10:Original2022-07-3103568676ns10:Originalns5:CurrentFinancialInstruments2023-07-3103568676ns10:Originalns5:CurrentFinancialInstruments2022-07-3103568676ns5:ShareCapitalns10:Original2023-07-3103568676ns5:ShareCapitalns10:Original2022-07-3103568676ns10:Originalns5:CapitalRedemptionReserve2023-07-3103568676ns10:Originalns5:CapitalRedemptionReserve2022-07-3103568676ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3103568676ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3103568676ns10:Originalns5:PlantMachinery2022-08-012023-07-3103568676ns10:Originalns5:FurnitureFittings2022-08-012023-07-3103568676ns10:Originalns5:ComputerEquipment2022-08-012023-07-3103568676ns10:Original2021-08-012022-07-3103568676ns10:Originalns5:PlantMachinery2022-07-3103568676ns10:Originalns5:FurnitureFittings2022-07-3103568676ns10:Originalns5:ComputerEquipment2022-07-3103568676ns10:Original2022-07-3103568676ns10:Originalns5:PlantMachinery2023-07-3103568676ns10:Originalns5:FurnitureFittings2023-07-3103568676ns10:Originalns5:ComputerEquipment2023-07-3103568676ns10:Originalns5:PlantMachinery2022-07-3103568676ns10:Originalns5:FurnitureFittings2022-07-3103568676ns10:Originalns5:ComputerEquipment2022-07-3103568676ns10:Originalns5:UnlistedNon-exchangeTradedns5:CostValuation2022-07-3103568676ns10:Originalns5:UnlistedNon-exchangeTraded2023-07-3103568676ns10:Originalns5:UnlistedNon-exchangeTraded2022-07-3103568676ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3103568676ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3103568676ns10:Originalns5:DeferredTaxation2022-07-3103568676ns10:Originalns5:DeferredTaxation2022-08-012023-07-3103568676ns10:Originalns5:DeferredTaxation2023-07-3103568676ns10:Originalns10:OrdinaryShareClass12023-07-3103568676ns10:Originalns10:OrdinaryShareClass22023-07-3103568676ns10:OrdinaryShareClass3ns10:Original2023-07-3103568676ns10:Originalns10:OrdinaryShareClass52023-07-3103568676ns10:Originalns10:Director222022-07-3103568676ns10:Originalns10:Director222021-07-3103568676ns10:Originalns10:Director222022-08-012023-07-3103568676ns10:Originalns10:Director222021-08-012022-07-3103568676ns10:Originalns10:Director222023-07-3103568676ns10:Originalns10:Director222022-07-31
REGISTERED NUMBER: 03568676 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ABSOLUTE APPLICATIONS LIMITED

ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABSOLUTE APPLICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: G Kleanthous
Mrs A Sellar
R J Clark
R Seculer





SECRETARY: G Kleanthous





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 03568676 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,953 6,247
Investments 5 6,883 6,883
17,836 13,130

CURRENT ASSETS
Debtors 6 1,568,359 1,578,873
Cash at bank 121,729 94,204
1,690,088 1,673,077
CREDITORS
Amounts falling due within one year 7 (1,382,428 ) (1,433,450 )
NET CURRENT ASSETS 307,660 239,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,496

252,757

PROVISIONS FOR LIABILITIES 9 (2,555 ) (1,017 )
NET ASSETS 322,941 251,740

CAPITAL AND RESERVES
Called up share capital 10 81 81
Capital redemption reserve 51 51
Retained earnings 322,809 251,608
SHAREHOLDERS' FUNDS 322,941 251,740

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

BALANCE SHEET - continued
31 JULY 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 22 November 2023 and were signed on its behalf by:





Mrs A Sellar - Director


ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Absolute Applications 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 represents amounts receivable for services net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance
Fixtures fittings and equipment - 25% on reducing balance
Software licences and database - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

Fixed asset investments
Fixed asset investments are stated at cost less adjustment, where necessary, for impairment in value. Impairment charges are recorded if events or changes in circumstances indicate that the carrying value may not be recoverable. If the provision is no longer required, the provision is written back to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Software
fittings licences
Office and and
equipment equipment database Totals
£    £    £    £   
COST
At 1 August 2022 6,559 11,755 45,203 63,517
Additions 8,358 - - 8,358
At 31 July 2023 14,917 11,755 45,203 71,875
DEPRECIATION
At 1 August 2022 4,035 9,349 43,886 57,270
Charge for year 2,720 602 330 3,652
At 31 July 2023 6,755 9,951 44,216 60,922
NET BOOK VALUE
At 31 July 2023 8,162 1,804 987 10,953
At 31 July 2022 2,524 2,406 1,317 6,247

5. FIXED ASSET INVESTMENTS
Investments
£   
COST
At 1 August 2022
and 31 July 2023 6,883
NET BOOK VALUE
At 31 July 2023 6,883
At 31 July 2022 6,883

ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 954,713 979,102
Other debtors 613,646 599,771
1,568,359 1,578,873

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 204,738 316,254
Taxation and social security 124,073 172,874
Other creditors 1,053,617 944,322
1,382,428 1,433,450

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Factor advances 608,759 568,948

The factoring account is secured by fixed and floating charges over book debts owed to the company and all other assets.

9. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 2,555 1,017

Deferred
tax
£   
Balance at 1 August 2022 1,017
Charge to Income Statement during year 1,538
Balance at 31 July 2023 2,555

ABSOLUTE APPLICATIONS LIMITED (REGISTERED NUMBER: 03568676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
5,000 Ordinary 1p 50 50
2,000 Ordinary 'A' 1p 20 20
1,000 Ordinary 'C' 1p 10 10
100 Ordinary 'D' 1p 1 1
81 81

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
G Kleanthous
Balance outstanding at start of year - 23,143
Amounts repaid - (23,143 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. RELATED PARTY DISCLOSURES

Bank facilities are secured by a personal guarantee as provided by G. Kleanthous.