Registered number
07909138
Absolute Validation Ltd
Filleted Accounts
31 January 2024
Absolute Validation Ltd
Registered number: 07909138
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,950 7,440
Current assets
Debtors 4 269,513 122,871
Cash at bank and in hand 734,010 694,581
1,003,523 817,452
Creditors: amounts falling due within one year 5 (187,613) (205,335)
Net current assets 815,910 612,117
Net assets 820,860 619,557
Capital and reserves
Called up share capital 4 4
Profit and loss account 820,856 619,553
Shareholders' funds 820,860 619,557
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Forward
Director
Approved by the board on 19 September 2024
Absolute Validation Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 22,864
Additions 2,112
At 31 January 2024 24,976
Depreciation
At 1 February 2023 15,424
Charge for the year 4,602
At 31 January 2024 20,026
Net book value
At 31 January 2024 4,950
At 31 January 2023 7,440
4 Debtors 2024 2023
£ £
Trade debtors 269,513 122,871
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 18,449 26,488
Taxation and social security costs 169,164 178,847
187,613 205,335
6 Other information
Absolute Validation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Cody Tech Park, Ively Road, Farnborough, Hampshire. GU14 0LX
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