Absolute Temperature Limited - Period Ending 2013-08-31

Absolute Temperature Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2013

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

Absolute Temperature Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Absolute Temperature Limited
for the Year Ended 31 August 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Absolute Temperature Limited for the year ended 31 August 2013 set out on pages 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/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Absolute Temperature Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Absolute Temperature Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Temperature Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Absolute Temperature Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Absolute Temperature Limited. You consider that Absolute Temperature Limited 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 accounts of Absolute Temperature Limited. 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 accounts.

......................................

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

30 May 2014

Page 1

Absolute Temperature Limited
(Registration number: SC306133)
Abbreviated Balance Sheet at 31 August 2013

	Note	2013 £	2012 £
Fixed assets
Tangible fixed assets		4,969	9,367
Current assets
Stocks		1,266	4,500
Debtors		18,996	23,158
Cash at bank and in hand		6,504	4,602
		26,766	32,260
Creditors: Amounts falling due within one year		(21,521)	(28,120)
Net current assets		5,245	4,140
Total assets less current liabilities		10,214	13,507
Creditors: Amounts falling due after more than one year		(7,181)	(11,384)
Provisions for liabilities		(995)	(1,874)
Net assets		2,038	249
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		1,938	149
Shareholders' funds		2,038	249

For the year ending 31 August 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 May 2014 and signed on its behalf by:

.........................................
Mr Mark Burns
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Absolute Temperature Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Reducing balance
Motor vehicles	25% Reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Absolute Temperature Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2013
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 September 2012	14,975	14,975
Additions	3,750	3,750
Disposals	(8,671)	(8,671)
At 31 August 2013	10,054	10,054
Depreciation
At 1 September 2012	5,608	5,608
Charge for the year	1,644	1,644
Eliminated on disposals	(2,167)	(2,167)
At 31 August 2013	5,085	5,085
Net book value
At 31 August 2013	4,969	4,969
At 31 August 2012	9,367	9,367

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2013 £	2012 £

Amounts falling due within one year	2,016	3,840
Amounts falling due after more than one year	7,183	7,311
Total secured creditors	9,199	11,151

4	Share capital

Allotted, called up and fully paid shares

	2013			2012
		No.	£		No.	£
Ordinary share capital of £1 each		100	100		100	100

Page 4