Absolute Access Services Limited


FINANCIAL STATEMENTS


for the year ended 31st October 2023



Absolute Access Services Limited

CONTENTS

for the year ended 31st October 2023







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Absolute Access Services Limited

Company No. 06738739

STATEMENT OF FINANCIAL POSITION

as at 31st October 2023

20232022
Note£££
FIXED ASSETS
Property, plant and equipment4495518485309
495518485309
CURRENT ASSETS
Stocks516001599
Debtors6111641126212
Cash at bank and in hand34388180617
147629308428
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7233654362498
NET CURRENT LIABILITIES(86025)(54070)
TOTAL ASSETS LESS CURRENT LIABILITIES409493431239
 
Creditors: amounts falling due
after more than one year8108000132000
 
NET ASSETS301493299239
 
CAPITAL AND RESERVES
Called up share capital751751
Share premium account84008400
Retained earnings292342290088
SHAREHOLDERS FUNDS301493299239

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st October 2023 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and 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.

Approved by the Board on 4 April 2024


L V Tutton

Director

Company Number 06738739 (England)

Absolute Access Services Limited

NOTES TO THE ACCOUNTS

for the year ended 31st October 2023


1   Statutory information

Absolute Access Services Limited is a private company limited by shares and registered under company number 06738739 in England. Its registered office address is Church Manorway, Erith, Kent DA8 1NP.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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, machinery and vehicles20% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 4 (2022 - 4).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st November 2022 17312576527613635952036
Additions-34679-34679
At 31st October 202317312579995513635986715
 
Depreciation
At 1st November 2022 8774536886210120466727
Charge for year137301032441624470
At 31st October 202310147537918610536491197
 
Net Book Value
At 31st October 2023716504207693099495518
At 31st October 2022853803964143515485309

5   Stocks20232022
££
 
Work in progress16001599
16001599

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20232022
££
 
Trade Debtors111641126212
111641126212

7   Creditors: amounts falling due within one year20232022
££
 
Loans and Overdrafts1543516768
Trade Creditors110568102101
Corporation tax798522
Taxes and social security costs8474185253
Other creditors2243122040
Accruals and deferred income400127814
233654362498

8   Creditors: amounts falling due after one year20232022
££
 
Loans and Overdrafts108000132000
108000132000

9   Loans20232022
££
Analysis of maturity of debt:
 
Within one year1543516768
Between one and five years108000132000
123435148768

10   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20232022
££
 
L V Tutton2611220
2611220

2023-10-31false2022-11-012023-10-3106738739uk-bus:Director12022-11-012023-10-3106738739uk-gaap:ShareCapital2023-10-3106738739uk-gaap:ShareCapital2022-10-3106738739uk-gaap:SharePremium2023-10-3106738739uk-gaap:SharePremium2022-10-3106738739uk-gaap:RetainedEarningsAccumulatedLosses2023-10-3106738739uk-gaap:RetainedEarningsAccumulatedLosses2022-10-3106738739uk-gaap:VehiclesPlantMachinery2022-11-012023-10-3106738739uk-gaap:MotorVehicles2022-10-3106738739uk-gaap:PlantMachinery2022-10-3106738739uk-gaap:FurnitureFittingsToolsEquipment2022-10-3106738739uk-gaap:MotorVehicles2022-11-012023-10-3106738739uk-gaap:PlantMachinery2022-11-012023-10-3106738739uk-gaap:FurnitureFittingsToolsEquipment2022-11-012023-10-3106738739uk-gaap:MotorVehicles2023-10-3106738739uk-gaap:PlantMachinery2023-10-3106738739uk-gaap:FurnitureFittingsToolsEquipment2023-10-3106738739uk-gaap:WithinOneYear2023-10-3106738739uk-gaap:WithinOneYear2022-10-3106738739uk-gaap:AfterOneYear2023-10-3106738739uk-gaap:AfterOneYear2022-10-31067387392022-11-012023-10-31067387392021-11-012022-10-31067387392023-10-31067387392022-10-3106738739uk-bus:SmallEntities2022-11-012023-10-3106738739uk-bus:AuditExempt-NoAccountantsReport2022-11-012023-10-3106738739uk-bus:FullAccounts2022-11-012023-10-3106738739uk-bus:PrivateLimitedCompanyLtd2022-11-012023-10-3106738739countries:EnglandWales2022-11-012023-10-3106738739uk-bus:Director112022-10-3106738739uk-bus:Director112023-10-31iso4217:GBPxbrli:purexbrli:shares