REGISTERED NUMBER: 05837552 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

ABSOLS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr I D Wilkinson

REGISTERED OFFICE:

52 Blythe Road

Maidstone

Kent

ME15 7TS

REGISTERED NUMBER:

05837552 (England and Wales)

ACCOUNTANTS:

George & Co.

Chartered Accountants

Thornhill House

26 Fisher Street

Maidstone

Kent

ME14 2SU

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

2,194

2,926

2,194

2,926

CURRENT ASSETS

Debtors

6

58,854

62,912

Cash at bank and in hand

3,693

913

62,547

63,825

CREDITORS

Amounts falling due within one year

7

43,908

31,142

NET CURRENT ASSETS

18,639

32,683

TOTAL ASSETS LESS CURRENT LIABILITIES

20,833

35,609

CREDITORS

Amounts falling due after more than one year

8

(20,000

)

(35,000

)

PROVISIONS FOR LIABILITIES

9

(417

)

(585

)

NET ASSETS

416

24

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

414

22

SHAREHOLDERS' FUNDS

416

24

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 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 director on 4 December 2017 and were signed by:

Mr I D Wilkinson - Director

1.	STATUTORY INFORMATION

Absols 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 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.

Revenue

Revenue represents the total value, excluding value added tax, of sales earned during the year.

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.

Property, plant and equipment

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

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 statement of financial position date.

Deferred tax

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

statement of financial position 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 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

12,800

AMORTISATION

At 1 October 2016

and 30 September 2017

12,800

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

-

5.	PROPERTY, PLANT AND EQUIPMENT

Office

equipment

£

COST

At 1 October 2016

and 30 September 2017

23,050

DEPRECIATION

At 1 October 2016

20,124

Charge for year

732

At 30 September 2017

20,856

NET BOOK VALUE

At 30 September 2017

2,194

At 30 September 2016

2,926

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

21,454

30,512

Other debtors

37,400

32,400

58,854

62,912

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

7,700

Taxation and social security

26,647

16,624

Other creditors

17,261

6,818

43,908

31,142

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

20,000

35,000

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

417

585

Deferred

tax

£

Balance at 1 October 2016

585

Credit to Income Statement during year

(168

)

Balance at 30 September 2017

417

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 October 2016

22

Profit for the year

33,867

Dividends

(33,475

)

At 30 September 2017

414

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

Mr I D Wilkinson

Balance outstanding at start of year

5,000

-

Amounts advanced

-

5,000

Amounts repaid

(5,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,000

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr I D Wilkinson.

14.	FIRST YEAR ADOPTION

There have been no adjustments required to the amounts included in the financial statements as a result of the

transition from UK GAAP to FRS 102 accounting standards. As such, there is no need for Reconciliation of

Equity and Reconciliation of Profit and Loss statements.