Absolute Sales & Lettings Ltd

		Period to 31 May 2016		31 March 2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		-		238
Tangible Assets	3		15,344		4,463

			15,344		4,701
CURRENT ASSETS
Debtors		22,555		23,869
Cash at bank and in hand		10,693		8,369

		33,248		32,238
Creditors: Amounts Falling Due Within One Year		(41,071 )		(26,141 )

NET CURRENT ASSETS (LIABILITIES)			(7,823 )		6,097

TOTAL ASSETS LESS CURRENT LIABILITIES			7,521		10,798

Creditors: Amounts Falling Due After More Than One Year	4		(5,000 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(949 )		(892 )

NET ASSETS			1,572		9,906

CAPITAL AND RESERVES
Called up share capital	5		2		2
Profit and Loss Account			1,570		9,904

SHAREHOLDERS' FUNDS			1,572		9,906

Company No. 07230553

Abbreviated Balance Sheet (continued) 31 May 2016

For the period ending 31 May 2016 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Simon Fisher

01/11/2016

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 Financial Reporting Standard for Smaller Entities (effective January 2015).

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. Intangible Fixed Assets and Amortisation - Other Intangible

Website costs have been capitalised and are written off over a period of 4 years on a straight line basis.

1.4. 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:

Leasehold	no depreciation in year of construction.
Plant & Equipment	25% straight line
Fixtures & Fittings	15% reducing balance
Computer Equipment	25% straight line

1.5. 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.

2. Intangible Assets


	Total
Cost	£
As at 1 April 2015	1,425
Additions	-
Disposals	-

As at 31 May 2016	1,425

Amortisation
As at 1 April 2015	1,187
Provided during the period	238
Disposals	-

As at 31 May 2016	1,425

Net Book Value
As at 31 May 2016	-

As at 1 April 2015	238

Page 2

Absolute Sales & Lettings Ltd

Notes to the Abbreviated Accounts (continued)

For the Period 1 April 2015 to 31 May 2016

3. Tangible Assets


	Total
Cost	£
As at 1 April 2015	11,638
Additions	14,022

As at 31 May 2016	25,660

Depreciation
As at 1 April 2015	7,175
Provided during the period	3,141

As at 31 May 2016	10,316

Net Book Value
As at 31 May 2016	15,344

As at 1 April 2015	4,463

4. Creditors: Amounts Falling Due After More Than One Year

	Period to 31 May 2016	31 March 2015
	£	£
Other creditors	5,000	-

5. Share Capital

	Value	Number	Period to 31 May 2016	31 March 2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	0.01	200	2	2

Class, Value, Number, 2016 £, 2015 £

Ordinary shares A, 0.01, 101, 1.01, 1.01

Ordinary shares B, 0.01, 79, 0.79, 0.79

Ordinary shares C, 0.01, 10, 0.10, 0.10

Ordinary shares D, 0.01, 10, 0.10, 0.10

6. Transactions With and Loans to Directors

Included within Debtors are the following loans to directors:

	As at 1 April 2015	Amounts advanced	Amounts repaid	As at 31 May 2016
	£	£	£	£
Mrs Cheryl Fisher	8,440	25,015	(27,200)	6,255
Mr Simon Fisher	8,440	25,014	(27,200)	6,254

The above loan is unsecured, interest free and repayable on demand.

Mr S Fisher has given a personal guarantee of £9,000 in respect of the company's annual rent.

Page 3

Absolute Sales & Lettings Ltd

Notes to the Abbreviated Accounts (continued)

For the Period 1 April 2015 to 31 May 2016

Dividends paid to directors - £54,400 (2015: £60,885)