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ABSOLUTE INVESTMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
Absolute Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is 50a Rathbone Place, London, W1T 1JW.
The previous years reporting period is shorter than a year being a 9 month period from 1 June 2022 to 28 February 2023. The change in the reporting period was made to bring the company's period in line with the group. The current amounts presented in the financial statements are not directly comparable as they are for a 12 month period ended 29 February 2024.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Absolute Investments Limited operates as a holding company and does not engage in trading activities. For both the current period and the preceding year, the company had no income nor expenses, resulting in no profit or loss.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent that is company also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The company did not have any employees during the year (2023: Nil).
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