Absolute Money NW Limited 11147436 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Financial Intermediation not elsewhere classified. Digita Accounts Production Advanced 6.30.9574.0 true 11147436 2022-08-01 2023-07-31 11147436 2023-07-31 11147436 core:RetainedEarningsAccumulatedLosses 2023-07-31 11147436 core:ShareCapital 2023-07-31 11147436 core:CurrentFinancialInstruments 2023-07-31 11147436 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11147436 core:FurnitureFittingsToolsEquipment 2023-07-31 11147436 bus:SmallEntities 2022-08-01 2023-07-31 11147436 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11147436 bus:FullAccounts 2022-08-01 2023-07-31 11147436 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 11147436 bus:RegisteredOffice 2022-08-01 2023-07-31 11147436 bus:Director1 2022-08-01 2023-07-31 11147436 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11147436 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 11147436 core:OfficeEquipment 2022-08-01 2023-07-31 11147436 countries:EnglandWales 2022-08-01 2023-07-31 11147436 2022-07-31 11147436 core:FurnitureFittingsToolsEquipment 2022-07-31 11147436 2021-08-01 2022-07-31 11147436 2022-07-31 11147436 core:RetainedEarningsAccumulatedLosses 2022-07-31 11147436 core:ShareCapital 2022-07-31 11147436 core:CurrentFinancialInstruments 2022-07-31 11147436 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 11147436 core:FurnitureFittingsToolsEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 11147436

Absolute Money NW Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Absolute Money NW Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Absolute Money NW Limited

(Registration number: 11147436)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,494

2,437

Current assets

 

Debtors

5

3,505

21,041

Cash at bank and in hand

 

301,743

73,620

 

305,248

94,661

Creditors: Amounts falling due within one year

6

(297,812)

(86,896)

Net current assets

 

7,436

7,765

Net assets

 

8,930

10,202

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

8,929

10,201

Shareholders' funds

 

8,930

10,202

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and Directors' Report has been taken.

Approved and authorised by the director on 8 February 2024
 

.........................................
Mr S P Mouncher
Director

 

Absolute Money NW Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax.

 

Absolute Money NW Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The current 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.

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

Office Equipment

25% on straight line basis

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 the director) during the year, was 1 (2022 - 1).

 

Absolute Money NW Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

3,774

3,774

At 31 July 2023

3,774

3,774

Depreciation

At 1 August 2022

1,337

1,337

Charge for the year

943

943

At 31 July 2023

2,280

2,280

Carrying amount

At 31 July 2023

1,494

1,494

At 31 July 2022

2,437

2,437

5

Debtors

2023
£

2022
£

Other debtors

3,505

21,041

3,505

21,041

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

6,302

1,871

Other creditors

291,510

85,025

297,812

86,896