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REGISTERED NUMBER: 08271912 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 31 March 2024

for

Absolute Direct Marketing Ltd

Absolute Direct Marketing Ltd (Registered number: 08271912)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


Absolute Direct Marketing Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: C J Garnett





REGISTERED OFFICE: Compass House
76 East Street
Leeds
West Yorkshire
LS9 8EE





REGISTERED NUMBER: 08271912 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Absolute Direct Marketing Ltd (Registered number: 08271912)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of marketing production services to a range of customers and sectors, principally in the direct marketing field.

DIRECTOR
C J Garnett held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





C J Garnett - Director


29 August 2024

Absolute Direct Marketing Ltd (Registered number: 08271912)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,766 70,709

CURRENT ASSETS
Stocks 78,150 69,477
Debtors 5 1,834,333 1,753,980
Cash at bank 153,618 124,068
2,066,101 1,947,525
CREDITORS
Amounts falling due within one year 6 1,409,084 1,498,009
NET CURRENT ASSETS 657,017 449,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

801,783

520,225

CREDITORS
Amounts falling due after more than one year 7 444,919 221,487
NET ASSETS 356,864 298,738

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 356,854 298,728
SHAREHOLDERS' FUNDS 356,864 298,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Direct Marketing Ltd (Registered number: 08271912)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





C J Garnett - Director


Absolute Direct Marketing Ltd (Registered number: 08271912)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Absolute Direct Marketing 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 represents the amount that derives from the provision of marketing services falling within the companies activities after the deduction of Value Added Tax. This is recognised upon completion of the service.
Turnover on the provision of contractual service obligations are recognised where the right to obtain consideration falls due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

The director has elected not to depreciate the classic vehicle as would not show an accurate value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 Direct Marketing Ltd (Registered number: 08271912)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2023 - 5 ) .

Absolute Direct Marketing Ltd (Registered number: 08271912)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,826 109,840 11,284 124,950
Additions - 110,350 - 110,350
Disposals - (55,910 ) - (55,910 )
At 31 March 2024 3,826 164,280 11,284 179,390
DEPRECIATION
At 1 April 2023 2,718 41,299 10,224 54,241
Charge for year 167 17,905 530 18,602
Eliminated on disposal - (38,219 ) - (38,219 )
At 31 March 2024 2,885 20,985 10,754 34,624
NET BOOK VALUE
At 31 March 2024 941 143,295 530 144,766
At 31 March 2023 1,108 68,541 1,060 70,709

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 103,020
Additions 110,350
Disposals (55,910 )
At 31 March 2024 157,460
DEPRECIATION
At 1 April 2023 41,299
Charge for year 17,905
Eliminated on disposal (38,219 )
At 31 March 2024 20,985
NET BOOK VALUE
At 31 March 2024 136,475
At 31 March 2023 61,721

Absolute Direct Marketing Ltd (Registered number: 08271912)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 481,946 591,289
Other debtors 1,347,967 1,158,271
1,829,913 1,749,560

Amounts falling due after more than one year:
Other debtors 4,420 4,420

Aggregate amounts 1,834,333 1,753,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 125,586 115,242
Hire purchase contracts (see note 8) 16,717 19,759
Trade creditors 930,648 911,714
Taxation and social security 33,808 43,553
Other creditors 302,325 407,741
1,409,084 1,498,009

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 341,327 177,879
Hire purchase contracts (see note 8) 103,592 43,608
444,919 221,487

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 16,717 19,759
Between one and five years 103,592 43,608
120,309 63,367

Absolute Direct Marketing Ltd (Registered number: 08271912)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 33,600 27,765

9. SECURED DEBTS

HSBC Bank Plc/ HSBC Invoice Finance (UK) Ltd and Nucleus Cash Flow Finance2 have fixed and floating charges over the assets of the company.
I Leach and LE Leach have a fixed and floating charge over the freehold, leasehold or commonhold property.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has a personal guarantee on the loan from Funding Circle.