Registered Number 05610458

ABSOLUTELY GLEAMING LTD

Abbreviated Accounts

30 November 2016

ABSOLUTELY GLEAMING LTD Registered Number 05610458

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 11,160 14,881
11,160 14,881
Current assets
Stocks 532 760
Debtors 114,324 97,298
Cash at bank and in hand 88,511 61,699
203,367 159,757
Creditors: amounts falling due within one year 3 (109,049) (96,228)
Net current assets (liabilities) 94,318 63,529
Total assets less current liabilities 105,478 78,410
Creditors: amounts falling due after more than one year 3 (4,570) (12,297)
Provisions for liabilities (2,232) (2,976)
Total net assets (liabilities) 98,676 63,137
Capital and reserves
Called up share capital 4 16 16
Profit and loss account 98,660 63,121
Shareholders' funds 98,676 63,137
  • For the year ending 30 November 2016 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 29 August 2017

And signed on their behalf by:
G Farrall, Director

ABSOLUTELY GLEAMING LTD Registered Number 05610458

Notes to the Abbreviated Accounts for the period ended 30 November 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities. Other income is recognised in the period to which it relates.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery – 25% reducing balance
motor vehicles – 25% reducing balance

Other accounting policies
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Stock
Stock is valued at the lower of cost and net realisable value.

Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employee's service lives on the basis of a constant percentage of earnings.

Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2Tangible fixed assets
£
Cost
At 1 December 2015 27,002
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2016 27,002
Depreciation
At 1 December 2015 12,121
Charge for the year 3,721
On disposals -
At 30 November 2016 15,842
Net book values
At 30 November 2016 11,160
At 30 November 2015 14,881
3Creditors
2016
£
2015
£
Secured Debts - 4,411
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
16 Ordinary shares of £1 each 16 16