REGISTERED NUMBER: 15206208 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

ABSOLUTE LETTINGS SOUTH DEVON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C R Mitchell

Mr S J Fisher

Mr D A Hole

Mrs C E Earnshaw

Mrs A K Bycroft

REGISTERED OFFICE:

27 Hyde Road

Paignton

Devon

TQ4 5BP

REGISTERED NUMBER:

15206208 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

FIXED ASSETS

Intangible assets

4

192,186

-

Tangible assets

5

2,710

5,863

194,896

5,863

CURRENT ASSETS

Debtors

6

3,120

253,476

Cash at bank

20,174

20,629

23,294

274,105

CREDITORS

Amounts falling due within one year

7

212,068

135,681

NET CURRENT (LIABILITIES)/ASSETS

(188,774

)

138,424

TOTAL ASSETS LESS CURRENT LIABILITIES

6,122

144,287

CREDITORS

Amounts falling due after more than one year

8

-

(142,307

)

PROVISIONS FOR LIABILITIES

(1,218

)

(1,523

)

NET ASSETS

4,904

457

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

4,903

456

SHAREHOLDERS' FUNDS

4,904

457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

Mr C R Mitchell - Director

Mr D A Hole - Director

Mr S J Fisher - Director

Mrs C E Earnshaw - Director

1.	STATUTORY INFORMATION

Absolute Lettings South Devon 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

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 10 (2025 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

213,540

At 31 March 2026

213,540

AMORTISATION

Amortisation for year

21,354

At 31 March 2026

21,354

NET BOOK VALUE

At 31 March 2026

192,186

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2025

-

6,183

810

6,993

Additions

1

588

1,948

2,537

Disposals

-

(5,439

)

(390

)

(5,829

)

At 31 March 2026

1

1,332

2,368

3,701

DEPRECIATION

At 1 April 2025

-

927

203

1,130

Charge for year

-

183

592

775

Eliminated on disposal

-

(816

)

(98

)

(914

)

At 31 March 2026

-

294

697

991

NET BOOK VALUE

At 31 March 2026

1

1,038

1,671

2,710

At 31 March 2025

-

5,256

607

5,863

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

3,120

1,089

Amounts owed by associates

-

249,062

Other debtors

-

2,100

Prepayments

-

1,225

3,120

253,476

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other loans

-

46,446

Trade creditors

11,515

8,209

Amounts owed to associates

90,036

15,935

Tax

73,563

34,076

Social security and other taxes

5,384

3,501

VAT

30,033

23,485

Other creditors

1,030

990

Accrued expenses

507

3,039

212,068

135,681

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other loans - 2-5 years

-

142,307

9.	ULTIMATE CONTROLLING PARTY

Absolute Lettings South Devon Ltd is wholly owned by it's parent company Absolute Sales & Lettings Ltd. The registered office of the parent is: 27 Hyde Road, Paignton, Devon, TQ4 5BP.