REGISTERED NUMBER: 04402133 (England and Wales)

ABSOLUTE FABRICATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

P M Wilson

Mrs T J Wilson

SECRETARY:

Mrs T J Wilson

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

04402133 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

20,544

20,520

CURRENT ASSETS

Inventories

4,500

4,500

Debtors

5

57,682

115,532

Cash at bank

124,194

76,418

186,376

196,450

CREDITORS

Amounts falling due within one year

6

66,637

65,064

NET CURRENT ASSETS

119,739

131,386

TOTAL ASSETS LESS CURRENT LIABILITIES

140,283

151,906

PROVISIONS FOR LIABILITIES

3,788

3,713

NET ASSETS

136,495

148,193

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

136,493

148,191

SHAREHOLDERS' FUNDS

136,495

148,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 21 December 2017 and were signed on its behalf by:

P M Wilson - Director

1.	STATUTORY INFORMATION

Absolute Fabrications Limited 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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Property, plant and equipment

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

Land and buildings

-

33.33% on cost

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2016

4,031

67,308

71,339

Additions

-

6,000

6,000

At 31 March 2017

4,031

73,308

77,339

DEPRECIATION

At 1 April 2016

4,031

46,788

50,819

Charge for year

-

5,976

5,976

At 31 March 2017

4,031

52,764

56,795

NET BOOK VALUE

At 31 March 2017

-

20,544

20,544

At 31 March 2016

-

20,520

20,520

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

55,331

113,698

Prepayments and accrued income

2,351

1,834

57,682

115,532

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

28,557

25,220

Taxation

4,414

4,342

Other taxes and social security

22,625

21,446

Other creditors

170

-

Directors' current accounts

8,225

12,006

Accrued expenses

2,646

2,050

66,637

65,064

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

At the year end, £8,225 ( 2016: £12,005) was owed to the director.

9.	FIRST YEAR ADOPTION

The company's financial statements have not been materially affected by the transition to FRS102.