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Logo On Report
Registered Number: SC475421
Scotland

 

 

 

ABSOLUTE DESIGN AND BUILD LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors John Adams
Adam McIntosh
Registered Number SC475421
Registered Office Unit 59
Carntyne Industrial Estate
Glasgow
G32 6AF
Accountants Libratum Accountancy Ltd
83 Coreshill Crescent

Hamilton
ML3 8FD
1
  2024   2023
    £ £   £ £
Fixed assets   13,877      18,373 
Current assets 59,931      51,050   
Creditors: amount falling due within one year (53,574)     (37,850)  
Net current assets   6,357      13,200 
Total assets less current liabilities   20,234      31,573 
Creditors: amount falling due after more than one year   (17,227)     (30,471)
Net assets   3,007      1,102 
 

         
Capital and reserves   3,007      1,102 
 
NOTES TO THE ACCOUNTS

General Information
Absolute Design and Build Ltd is a private company, limited by shares, registered in Scotland, registration number SC475421, registration address Unit 59, Carntyne Industrial Estate, Glasgow, G32 6AF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25 Reducing Balance
Plant and Machinery 20 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 May 2023 5,057    60,227    65,284 
Additions    
Disposals    
At 30 April 2024 5,057    60,227    65,284 
Depreciation
At 01 May 2023 3,108    43,803    46,911 
Charge for year 390    4,106    4,496 
On disposals    
At 30 April 2024 3,498    47,909    51,407 
Net book values
Closing balance as at 30 April 2024 1,559    12,318    13,877 
Opening balance as at 01 May 2023 1,949    16,424    18,373 

The net book value of Motor Vehicles includes £ 16,424 (2023 £16,424) in respect of assets leased under finance leases or hire purchase contracts.

3.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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.

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.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 August 2024 and were signed on its behalf by:


--------------------------------
John Adams
Director
2