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REGISTERED NUMBER: 06059488 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ABSOLUTE EDGE LTD

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABSOLUTE EDGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J G Coombs
J E Barlow





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 06059488 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,449 2,518

CURRENT ASSETS
Stocks 5 154,756 -
Debtors 6 140,756 144,900
295,512 144,900
CREDITORS
Amounts falling due within one year 7 379,599 290,805
NET CURRENT LIABILITIES (84,087 ) (145,905 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(82,638

)

(143,387

)

CREDITORS
Amounts falling due after more than one
year

8

(15,661

)

(25,780

)

PROVISIONS FOR LIABILITIES 10 (362 ) (478 )
NET LIABILITIES (98,661 ) (169,645 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (98,761 ) (169,745 )
SHAREHOLDERS' FUNDS (98,661 ) (169,645 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by:





J E Barlow - Director


ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Absolute Edge Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture,fittings & equipment - 25% on reducing balance
Computer equipment - Over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Furniture,fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 January 2023 20,108 8,979 29,087
Additions - 404 404
At 31 December 2023 20,108 9,383 29,491
DEPRECIATION
At 1 January 2023 19,412 7,157 26,569
Charge for year 174 1,299 1,473
At 31 December 2023 19,586 8,456 28,042
NET BOOK VALUE
At 31 December 2023 522 927 1,449
At 31 December 2022 696 1,822 2,518

5. STOCKS
2023 2022
£    £   
Stocks 154,756 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,950 125,075
Other debtors 535 -
Directors' loan accounts 101,106 19,825
Tax 33,975 -
VAT 3,190 -
140,756 144,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 94,497 109,473
Trade creditors 138,966 3,519
Tax 97,695 72,563
VAT - 20,649
Other creditors 17,364 21,402
Directors' loan accounts - 336
Accrued expenses 31,077 62,863
379,599 290,805

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,375 10,119
Bank loans - 2-5 years 5,286 15,661
15,661 25,780

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 84,378 99,603

The bank overdraft facility is secured by an all asset debenture dated 13 June 2012.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 362 478

Deferred
tax
£   
Balance at 1 January 2023 478
Provided during year (116 )
Balance at 31 December 2023 362

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J E Barlow
Balance outstanding at start of year 19,825 -
Amounts advanced 67,461 19,825
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,286 19,825

J G Coombs
Balance outstanding at start of year - -
Amounts advanced 13,382 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,382 -

ABSOLUTE EDGE LTD (REGISTERED NUMBER: 06059488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J G Coombs. Interest of £415 (2022 : £nil) was charged at the official rate.

J E Barlow. Interest of £1,389 (2022 : £nil) was charged at the official rate.

12. ULTIMATE CONTROLLING PARTY

There is no Ultimate Controlling Party.