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Registered number: 06962525
Absolute Climate Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 06962525
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,848 97,695
62,848 97,695
CURRENT ASSETS
Debtors 5 341,079 280,414
Cash at bank and in hand 706,636 666,202
1,047,715 946,616
Creditors: Amounts Falling Due Within One Year 6 (203,074 ) (163,684 )
NET CURRENT ASSETS (LIABILITIES) 844,641 782,932
TOTAL ASSETS LESS CURRENT LIABILITIES 907,489 880,627
Creditors: Amounts Falling Due After More Than One Year 7 (14,090 ) (30,885 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,711 ) (10,652 )
NET ASSETS 877,688 839,090
CAPITAL AND RESERVES
Called up share capital 9 10 10
Income Statement 877,678 839,080
SHAREHOLDERS' FUNDS 877,688 839,090
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Wayne Jobling
Director
24/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Absolute Climate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06962525 . The registered office is 377-399 London Road, Camberley, Surrey, GU15 3HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 5,521 150,138 1,360 19,205 176,224
Additions - - - 2,826 2,826
As at 31 July 2024 5,521 150,138 1,360 22,031 179,050
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 August 2023 5,521 56,977 340 15,691 78,529
Provided during the period - 34,847 340 2,486 37,673
As at 31 July 2024 5,521 91,824 680 18,177 116,202
Net Book Value
As at 31 July 2024 - 58,314 680 3,854 62,848
As at 1 August 2023 - 93,161 1,020 3,514 97,695
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 77,683 226,609
Other debtors 263,396 53,805
341,079 280,414
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,795 10,089
Trade creditors 24,611 34,613
Other creditors 4,265 5,505
Taxation and social security 157,403 113,477
203,074 163,684
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,090 30,885
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,795 10,089
Later than one year and not later than five years 14,090 30,885
30,885 40,974
30,885 40,974
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,667 16,854
Later than one year and not later than five years - 6,667
6,667 23,521
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Wayne Jobling 34,335 136,548 - - 170,883
The above loan is unsecured and repayable on demand. Interest is charged at HMRC's official rate.
Page 5