ABSOLUTE COLDROOM LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH JUNE 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Hogan

REGISTERED OFFICE:

Keepers Cottage

Lanshaw Bank

Beamsley

Skipton

BD23 6HR

REGISTERED NUMBER:

06977535 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Moors House

11 South Hawksworth Street

Ilkley

West Yorkshire

LS29 9DX

FIXED ASSETS

Tangible assets

2

5,138

6,603

CURRENT ASSETS

Stocks

3,000

-

Debtors

39,453

60,725

Cash at bank

8,063

7,846

50,516

68,571

CREDITORS

Amounts falling due within one year

43,879

46,211

NET CURRENT ASSETS

6,637

22,360

TOTAL ASSETS LESS CURRENT LIABILITIES

11,775

28,963

CREDITORS

Amounts falling due after more than one year

(2,706

)

(1,447

)

PROVISIONS FOR LIABILITIES

(1,028

)

-

NET ASSETS

8,041

27,516

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

7,941

27,416

SHAREHOLDERS' FUNDS

8,041

27,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29th November 2016 and were signed by:

D Hogan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

14,288

Additions

6,495

Disposals

(12,395

)

At 30th June 2016

8,388

DEPRECIATION

At 1st July 2015

7,685

Charge for year

7,960

Eliminated on disposal

(12,395

)

At 30th June 2016

3,250

NET BOOK VALUE

At 30th June 2016

5,138

At 30th June 2015

6,603

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary shares

1

100

100