Registered number
09419201
Absolute AW Limited
Filleted Accounts
31 March 2024
Absolute AW Limited
Registered number: 09419201
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 114,042 142,552
Current assets
Debtors 4 - 200
Cash at bank and in hand 45,602 57,273
45,602 57,473
Creditors: amounts falling due within one year 5 (58,169) (107,609)
Net current liabilities (12,567) (50,136)
Total assets less current liabilities 101,475 92,416
Provisions for liabilities (21,668) (27,085)
Net assets 79,807 65,331
Capital and reserves
Called up share capital 4,000 4,000
Profit and loss account 75,807 61,331
Shareholders' funds 79,807 65,331
The director is 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 director acknowledges his 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.
Mr H A Warwick
Director
Approved by the board on 8 April 2024
Absolute AW Limited
Notes to the Accounts
for the year ended 31 March 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:
Motor Vehicles 20% reducing balance
Plant and machinery 20% reducing balance
Fixtures and fittings 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor Vehicles Plant and machinery etc Fixtures and Fittings Total
£ £ £ £
Cost
At 1 April 2023 147,251 2,106 5,947 155,304
At 31 March 2024 147,251 2,106 5,947 155,304
Depreciation
At 1 April 2023 7,750 1,592 3,410 12,752
Charge for the year 27,900 103 507 28,510
At 31 March 2024 35,650 1,695 3,917 41,262
Net book value
At 31 March 2024 111,601 411 2,030 114,042
At 31 March 2023 139,501 514 2,537 142,552
4 Debtors 2024 2023
£ £
Other debtors - 200
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 286
Taxation and social security costs 2,928 1
Other creditors 55,241 107,322
58,169 107,609
6 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
7 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Related party transactions
As at 31st March 2024 the Company owed the director £54,001. The shareholders were paid Dividends totalling £2000 during the year.
10 Controlling party
Then ultimate controlling party is Mr H A Warwick.
11 Other information
Absolute AW Limited is a private company limited by shares and incorporated in England. Its registered office is:
285 Whitefields Road
Sollihull
West Midlands
B91 3PA
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