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2015-04-01 2016-03-31 03327695 frs-countries:EnglandWales 2015-04-01 2016-03-31
Registered number: 03327695
Absolute Power Limited
Unaudited Financial Statements
For The Year Ended 31 March 2017
Abacus Accountancy (GB) Limited

105 Courtyard Studios
Lakes Innovation Centre
Braintree
Essex
CM7 3AN
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Balance Sheet
Registered number: 03327695
2017 2016
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 12,275 6,580
12,275 6,580
CURRENT ASSETS
Debtors 6 69,845 204,332
Cash at bank and in hand 317,750 463,980
387,595 668,312
Creditors: Amounts Falling Due Within One Year 7 (196,595 ) (481,307 )
NET CURRENT ASSETS (LIABILITIES) 191,000 187,005
TOTAL ASSETS LESS CURRENT LIABILITIES 203,275 193,585
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (2,456 ) (1,316 )
NET ASSETS 200,819 192,269
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and loss account 199,819 191,269
SHAREHOLDERS' FUNDS 200,819 192,269
Page 1
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
  • The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
Mr Bryan Murphy
20/10/2017

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Notes to the Unaudited Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
1.4. Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
Page 3
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2016 1,042 9,995 4,777 15,814
Additions - 15,410 - 15,410
Disposals - (9,995 ) - (9,995 )
As at 31 March 2017 1,042 15,410 4,777 21,229
Depreciation
As at 1 April 2016 950 4,373 3,911 9,234
Provided during the period 23 3,853 217 4,093
Disposals - (4,373 ) - (4,373 )
As at 31 March 2017 973 3,853 4,128 8,954
Net Book Value
As at 31 March 2017 69 11,557 649 12,275
As at 1 April 2016 92 5,622 866 6,580
6. Debtors
2017 2016
£ £
Due within one year
Trade debtors 54,282 188,285
Prepayments and accrued income 1,238 1,722
Directors' loan accounts 14,325 14,325
69,845 204,332
7. Creditors: Amounts Falling Due Within One Year
2017 2016
£ £
Trade creditors 132,135 178,716
Corporation tax 23,029 40,237
Other taxes and social security - 23,004
VAT 14,071 48,525
Accruals and deferred income 27,360 190,825
196,595 481,307
Page 4
8. Deferred Taxation
2017 2016
£ £
As at 1 April 2016 1,316 1,754
Deferred taxation 1,139 (438 )
Deferred tax 2,456 1,316
The provision for deferred taxation is made up of accelerated capital allowances
9. Share Capital
Value Number 2017 2016
Allotted, called up and fully paid £ £ £
Ordinary shares 1.000 1000 1,000 1,000
Page 5