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REGISTERED NUMBER: 08499048 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Absolute Corporate Events Ltd

Absolute Corporate Events Ltd (Registered number: 08499048)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Absolute Corporate Events Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C Parnham
Mrs AM Lowe
CP Lowe





SECRETARY: CP Lowe





REGISTERED OFFICE: 10 Lancaster Place
South Marston
Swindon
Wiltshire
SN3 4UQ





REGISTERED NUMBER: 08499048 (England and Wales)





AUDITORS: Morley & Co (UK) Ltd
Statutory Auditor, Chartered Certified Accountants
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

Absolute Corporate Events Ltd (Registered number: 08499048)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,709 7,565

CURRENT ASSETS
Debtors 5 1,562,719 617,418
Cash at bank and in hand 332,934 349,113
1,895,653 966,531
CREDITORS
Amounts falling due within one year 6 1,544,640 633,982
NET CURRENT ASSETS 351,013 332,549
TOTAL ASSETS LESS CURRENT
LIABILITIES

358,722

340,114

PROVISIONS FOR LIABILITIES 8 1,465 -
NET ASSETS 357,257 340,114

CAPITAL AND RESERVES
Called up share capital 9 700 700
Capital redemption reserve 300 300
Retained earnings 356,257 339,114
SHAREHOLDERS' FUNDS 357,257 340,114

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 29 November 2023 and were signed on its behalf by:





Mrs AM Lowe - Director


Absolute Corporate Events Ltd (Registered number: 08499048)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Absolute Corporate Events Ltd 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts settlement discounts and volume rebates.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost of valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures, fittings & equipment 33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Absolute Corporate Events Ltd (Registered number: 08499048)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transactions is measured at the present value of the future receipts discounted at a market rate of interest. financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debts instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Absolute Corporate Events Ltd (Registered number: 08499048)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Employee benefits
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.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expenses when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

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

Absolute Corporate Events Ltd (Registered number: 08499048)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 79,551
Additions 664
At 31 March 2023 80,215
DEPRECIATION
At 1 April 2022 71,986
Charge for year 520
At 31 March 2023 72,506
NET BOOK VALUE
At 31 March 2023 7,709
At 31 March 2022 7,565

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 437,506 177,458
Other debtors 435,213 139,960
872,719 317,418

Amounts falling due after more than one year:
Amounts owed by group undertakings 690,000 300,000

Aggregate amounts 1,562,719 617,418

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 709,179 14,091
Taxation and social security 57,384 67,484
Other creditors 778,077 552,407
1,544,640 633,982

Absolute Corporate Events Ltd (Registered number: 08499048)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. SECURED DEBTS

Barclays Bank PLC hold a fixed and floating charge dated 15 August 2016 over all the property or undertaking of the company. The charge contains a 'negative pledge'.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,465 -

Deferred
tax
£   
Accelerated capital allowances 1,465
Balance at 31 March 2023 1,465

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
700 Ordinary £1 1 700 700

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul King FCCA (Senior Statutory Auditor)
for and on behalf of Morley & Co (UK) Ltd

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the sum of £297 (2022 - £297) was owed to the Company by C Parnham.