REGISTERED NUMBER: 03568676 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

ABSOLUTE APPLICATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Kleanthous

Mrs A H Sellar

Mr R J Clark

SECRETARY:

Mr G Kleanthous

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

03568676 (England and Wales)

ACCOUNTANTS:

mgr SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

3,670

8,214

Investments

5

68

6,883

3,738

15,097

CURRENT ASSETS

Debtors

6

1,108,922

1,204,414

Cash at bank

100,461

251,118

1,209,383

1,455,532

CREDITORS

Amounts falling due within one year

7

(1,021,101

)

(1,201,782

)

NET CURRENT ASSETS

188,282

253,750

TOTAL ASSETS LESS CURRENT LIABILITIES

192,020

268,847

PROVISIONS FOR LIABILITIES

9

(918

)

(1,903

)

NET ASSETS

191,102

266,944

CAPITAL AND RESERVES

Called up share capital

10

81

81

Capital redemption reserve

51

51

Retained earnings

190,970

266,812

SHAREHOLDERS' FUNDS

191,102

266,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 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.

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 13 April 2026 and were signed on its behalf by:

Mrs A H Sellar - Director

1.	STATUTORY INFORMATION

Absolute Applications Limited 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

Basis of preparing the financial statements

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.

Preparation of consolidated financial statements

The financial statements contain information about Absolute Applications Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Office equipment

-

25% on reducing balance

Fixtures fittings and equipment

-

25% on reducing balance

Software licences and database

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Fixed asset investments

Fixed asset investments are stated at cost less adjustment, where necessary, for impairment in value. Impairment charges are recorded if events or changes in circumstances indicate that the carrying value may not be recoverable. If the provision is no longer required, the provision is written back to the profit and loss account.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Software

fittings

licences

Office

and

and

equipment

equipment

database

Totals

£

£

£

£

COST

At 1 August 2024

14,917

11,755

45,203

71,875

Disposals

(5,951

)

(11,755

)

(45,203

)

(62,909

)

At 31 July 2025

8,966

-

-

8,966

DEPRECIATION

At 1 August 2024

8,796

10,402

44,463

63,661

Charge for year

1,223

-

-

1,223

Eliminated on disposal

(4,723

)

(10,402

)

(44,463

)

(59,588

)

At 31 July 2025

5,296

-

-

5,296

NET BOOK VALUE

At 31 July 2025

3,670

-

-

3,670

At 31 July 2024

6,121

1,353

740

8,214

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

Investments

Totals

£

£

£

COST

At 1 August 2024

-

6,883

6,883

Additions

68

-

68

Disposals

-

(6,883

)

(6,883

)

At 31 July 2025

68

-

68

NET BOOK VALUE

At 31 July 2025

68

-

68

At 31 July 2024

-

6,883

6,883

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Absolute Applications Inc

Registered office: USA

Nature of business: Project placement consultancy

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

£

£

Aggregate capital and reserves

70,850

4,350

Profit/(loss) for the year

75,258

(4,119

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

552,724

619,308

Amounts owed by group undertakings

108,903

52,645

Other debtors

447,295

532,461

1,108,922

1,204,414

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

147,403

223,546

Taxation and social security

75,228

102,113

Other creditors

798,470

876,123

1,021,101

1,201,782

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

£

Factor advances

456,212

443,643

The factoring account is secured by fixed and floating charges over book debts owed to the company and all other assets.

9.	PROVISIONS FOR LIABILITIES

31.7.25

31.7.24

£

£

Deferred tax

918

1,903

Deferred

tax

£

Balance at 1 August 2024

1,903

Utilised during year

(985

)

Balance at 31 July 2025

918

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

£

5,000

Ordinary

1p

50

50

2,000

Ordinary 'A'

1p

20

20

1,000

Ordinary 'C'

1p

10

10

100

Ordinary 'D'

1p

1

1

81

81

11.	PENSION COMMITMENTS

The company makes payments to a defined contribution pension scheme on behalf of its employees. Amounts charged to the income statement were £6,720 (2024: £15,009) for the year. There were outstanding employer contributions of £617 (2024: £514) at the balance sheet date.

12.	RELATED PARTY DISCLOSURES

Mr G Kleanthous

A director of the company.

Bank facilities are secured by a personal guarantee as provided by Mr G Kleanthous.

Absolute Applications Inc

A company under common control.

During the year, the company charged Absolute Applications Inc management fees of £27,823 (2024: £22,647). The only other transactions were the advancement and repayment of funds.

31.7.25

31.7.24

£

£

Amount due from related party at the balance sheet date

108,903

52,645