ABSOLUTE COLDROOM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Hogan

REGISTERED OFFICE:

Keepers Cottage

Lanshaw Bank

Beamsley

Skipton

BD23 6HR

REGISTERED NUMBER:

06977535 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Moors House

11 South Hawksworth Street

Ilkley

West Yorkshire

LS29 9DX

FIXED ASSETS

Tangible assets

4

3,853

5,138

CURRENT ASSETS

Stocks

3,100

3,000

Debtors

5

54,340

39,453

Cash at bank

25,694

8,063

83,134

50,516

CREDITORS

Amounts falling due within one year

6

58,929

43,879

NET CURRENT ASSETS

24,205

6,637

TOTAL ASSETS LESS CURRENT LIABILITIES

28,058

11,775

CREDITORS

Amounts falling due after more than one year

7

(541

)

(2,706

)

PROVISIONS FOR LIABILITIES

8

(732

)

(1,028

)

NET ASSETS

26,785

8,041

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

26,685

7,941

SHAREHOLDERS' FUNDS

26,785

8,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 20th March 2018 and were signed by:

D Hogan - Director

1.	STATUTORY INFORMATION

Absolute Coldroom Ltd 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.

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.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1st July 2016

and 30th June 2017

1,893

6,495

8,388

DEPRECIATION

At 1st July 2016

1,626

1,624

3,250

Charge for year

67

1,218

1,285

At 30th June 2017

1,693

2,842

4,535

NET BOOK VALUE

At 30th June 2017

200

3,653

3,853

At 30th June 2016

267

4,871

5,138

The net book value of tangible fixed assets includes £ 3,653 (2016 - £ 4,871 ) in respect of assets held under

hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

48,971

17,347

Social security and other taxes

5,369

22,106

54,340

39,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

2,165

2,165

Trade creditors

30,730

11,564

Tax

7,515

3,616

Social security and other taxes

8,600

2,083

Directors' current accounts

175

14,637

Accrued expenses

9,744

9,814

58,929

43,879

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

541

2,706

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

732

1,028

Deferred

tax

£

Balance at 1st July 2016

1,028

Credit to Income Statement during year

(296

)

Balance at 30th June 2017

732

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary shares

1

100

100