REGISTERED NUMBER: 06975227 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

ABSOLUTE PIZZA LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M S Pears

REGISTERED OFFICE:

30 New Road

Brighton

East Sussex

BN1 1BN

REGISTERED NUMBER:

06975227 (England and Wales)

ACCOUNTANTS:

Hilton Sharp & Clarke Limited

30 New Road

Brighton

East Sussex

BN1 1BN

FIXED ASSETS

Intangible assets

2

29,500

36,000

Tangible assets

3

206,754

256,801

236,254

292,801

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

29,273

3,063

Cash at bank and in hand

221,715

87,304

253,488

92,867

CREDITORS

Amounts falling due within one year

4

144,087

101,511

NET CURRENT ASSETS/(LIABILITIES)

109,401

(8,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

345,655

284,157

CREDITORS

Amounts falling due after more than one year

4

(50,927

)

(66,928

)

PROVISIONS FOR LIABILITIES

(2,500

)

(2,500

)

NET ASSETS

292,228

214,729

CAPITAL AND RESERVES

Called up share capital

5

237,501

237,501

Profit and loss account

54,727

(22,772

)

SHAREHOLDERS' FUNDS

292,228

214,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 16 February 2017 and were signed by:

M S Pears - 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 fast food, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible fixed assets

The franchise fee is written off over its estimated useful life of 10 years.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Leasehold Improvements

-

10% on cost

Plant and machinery

-

10% on cost

Computer equipment

-

33% straight line

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.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

65,000

AMORTISATION

At 1 August 2015

29,000

Amortisation for year

6,500

At 31 July 2016

35,500

NET BOOK VALUE

At 31 July 2016

29,500

At 31 July 2015

36,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

499,115

DEPRECIATION

At 1 August 2015

242,314

Charge for year

50,047

At 31 July 2016

292,361

NET BOOK VALUE

At 31 July 2016

206,754

At 31 July 2015

256,801

4.

CREDITORS

Creditors include an amount of £ 66,939 (2015 - £ 82,254 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

250,000

0% Preference

1

237,500

237,500

237,501

237,501

6.	ULTIMATE CONTROLLING PARTY