Absolutely Fad Limited

		Period to 31 March 2016		30 April 2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		150,975		133,612

			150,975		133,612
CURRENT ASSETS
Stocks		8,250		8,250
Debtors		59,298		79,959
Cash at bank and in hand		19,790		8,117

		87,338		96,326
Creditors: Amounts Falling Due Within One Year		(100,965 )		(106,187 )

NET CURRENT ASSETS (LIABILITIES)			(13,627 )		(9,861 )

TOTAL ASSETS LESS CURRENT LIABILITIES			137,348		123,751

Creditors: Amounts Falling Due After More Than One Year	3		(155,534 )		(122,895 )

NET ASSETS			(18,186 )		856

CAPITAL AND RESERVES
Called up share capital	4		100		100
Profit and Loss Account			(18,286 )		756

SHAREHOLDERS' FUNDS			(18,186 )		856

Company No. 04384290

Abbreviated Balance Sheet (continued) 31 March 2016

For the period ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 F Saliba

31/03/2017

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. 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	0% of Net Book Value
Fixtures & Fittings	25% of Net Book Value

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Tangible Assets


	Total
Cost	£
As at 1 May 2015	192,589
Additions	21,438

As at 31 March 2016	214,027

Depreciation
As at 1 May 2015	58,977
Provided during the period	4,075

As at 31 March 2016	63,052

Net Book Value
As at 31 March 2016	150,975

As at 1 May 2015	133,612

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

	Period to 31 March 2016	30 April 2015
	£	£
Bank loans	33,801	37,134
Directors loan account	121,733	85,761

	155,534	122,895

Page 2

Absolutely Fad Limited

Notes to the Abbreviated Accounts (continued)

For the Period 1 May 2015 to 31 March 2016

4. Share Capital

	Value	Number	Period to 31 March 2016	30 April 2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.00	100	100	100

5. Transactions With and Loans to Directors

Dividends paid to directors

6. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.