REGISTERED NUMBER: 04431064 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

ABSOLUTE ELECTRICAL SERVICES LTD

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

T B Luff

Mrs T J Luff

Mrs L D Tongs

K R Tongs

SECRETARY:

T B Luff

REGISTERED OFFICE:

Unit 29 Romsey Industrial Estate

Greatbridge Road

Romsey

Hampshire

SO51 0HR

REGISTERED NUMBER:

04431064 (England and Wales)

ACCOUNTANTS:

Magenta Accounts Limited

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Absolute Electrical Services Ltd for the year ended 31 May 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Absolute Electrical Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Absolute Electrical Services Ltd and state those matters that we have agreed to state to the Board of Directors of Absolute Electrical Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Absolute Electrical Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Absolute Electrical Services Ltd. You consider that Absolute Electrical Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Absolute Electrical Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Magenta Accounts Limited

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

19 October 2017

FIXED ASSETS

Tangible assets

4

96,200

86,167

CURRENT ASSETS

Stocks

5,000

2,500

Debtors

5

199,876

190,366

Cash at bank and in hand

62,614

52,989

267,490

245,855

CREDITORS

Amounts falling due within one year

6

156,012

156,956

NET CURRENT ASSETS

111,478

88,899

TOTAL ASSETS LESS CURRENT LIABILITIES

207,678

175,066

CREDITORS

Amounts falling due after more than one year

7

(36,950

)

(43,198

)

PROVISIONS FOR LIABILITIES

(18,911

)

(16,904

)

NET ASSETS

151,817

114,964

CAPITAL AND RESERVES

Called up share capital

10

4

4

Retained earnings

11

151,813

114,960

SHAREHOLDERS' FUNDS

151,817

114,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 October 2017 and were signed on its behalf by:

K R Tongs - Director

1.	STATUTORY INFORMATION

Absolute Electrical Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 June 2016

1,648

7,420

10,575

At 31 May 2017

1,648

7,420

10,575

DEPRECIATION

At 1 June 2016

108

5,207

989

Charge for year

330

552

2,399

Eliminated on disposal

-

-

-

At 31 May 2017

438

5,759

3,388

NET BOOK VALUE

At 31 May 2017

1,210

1,661

7,187

At 31 May 2016

1,540

2,213

9,586

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2016

103,470

5,662

128,775

Additions

33,917

5,219

39,136

Disposals

(14,631

)

-

(14,631

)

At 31 May 2017

122,756

10,881

153,280

DEPRECIATION

At 1 June 2016

32,142

4,162

42,608

Charge for year

19,694

699

23,674

Eliminated on disposal

(9,202

)

-

(9,202

)

At 31 May 2017

42,634

4,861

57,080

NET BOOK VALUE

At 31 May 2017

80,122

6,020

96,200

At 31 May 2016

71,328

1,500

86,167

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2016

99,624

Additions

25,967

Disposals

(14,631

)

At 31 May 2017

110,960

DEPRECIATION

At 1 June 2016

28,295

Charge for year

18,911

Eliminated on disposal

(9,202

)

At 31 May 2017

38,004

NET BOOK VALUE

At 31 May 2017

72,956

At 31 May 2016

71,329

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

181,718

164,878

Prepayments and accrued income

18,158

25,488

199,876

190,366

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Hire purchase contracts (see note 8)

29,287

26,785

Trade creditors

62,106

81,529

Tax

37,039

24,450

Social security and other taxes

3,905

2,954

Pension control

81

-

VAT

16,852

12,200

Credit card

4,860

4,824

Net pay control

65

-

Directors' current accounts

317

214

Accrued expenses

1,500

4,000

156,012

156,956

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Hire purchase contracts (see note 8)

36,950

43,198

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.5.17

31.5.16

£

£

Net obligations repayable:

Within one year

29,287

26,785

Between one and five years

36,950

43,198

66,237

69,983

Non-cancellable operating

leases

31.5.17

31.5.16

£

£

Within one year

28,729

28,229

Between one and five years

117,729

116,958

In more than five years

104,479

133,979

250,937

279,166

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.17

31.5.16

£

£

Hire purchase contracts

66,237

69,983

The hire purchase liabilities are secured on the commercial vehicle to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

1

C Ordinary

£1

1

1

1

D Ordinary

£1

1

1

4

4

11.

RESERVES

Retained

earnings

£

At 1 June 2016

114,960

Profit for the year

157,728

Dividends

(120,875

)

At 31 May 2017

151,813

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £120,875 (2016 - £89,040) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors together.

14.	FIRST YEAR ADOPTION

There were no reconciling adjustments required in relation to the first year adoption of FRS 102 Section 1A.