REGISTERED NUMBER: 05948256 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ABSOLUTE INDUSTRIAL LIMITED

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Intangible assets

4

2,400

3,600

Tangible assets

5

13,308

17,324

15,708

20,924

Current assets

Stocks

6

29,631

25,765

Debtors

7

11,243

5,260

Cash at bank and in hand

230,208

176,042

271,082

207,067

Creditors

Amounts falling due within one year

8

65,026

60,804

Net current assets

206,056

146,263

Total assets less current liabilities

221,764

167,187

Provisions for liabilities

9

2,662

3,465

Net assets

219,102

163,722

Capital and reserves

Called up share capital

10

2

2

Retained earnings

219,100

163,720

Shareholders' funds

219,102

163,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2017 and were signed on its behalf by:

Mr L Aires - Director

1.	Statutory information

Absolute Industrial Ltd is a private company, limited by shares, registered in England and Wales.The company's registered

number is 05948256. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Oak

House, Stockham Lane, South Chard, Somerset, TA20 2PS.

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 represents amounts receivable, excluding value added tax, in respect of goods provided in the ordinary course of

business. Turnover is recognised when the goods have been provided to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible

fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 2 (2015 - 2 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 January 2016

and 31 December 2016

12,000

Amortisation

At 1 January 2016

8,400

Charge for year

1,200

At 31 December 2016

9,600

Net book value

At 31 December 2016

2,400

At 31 December 2015

3,600

5.	Tangible fixed assets

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2016

367

16,250

9,981

26,598

Additions

-

-

1,232

1,232

Disposals

-

-

(1,713

)

(1,713

)

At 31 December 2016

367

16,250

9,500

26,117

Depreciation

At 1 January 2016

92

4,063

5,119

9,274

Charge for year

69

3,046

1,320

4,435

Eliminated on disposal

-

-

(900

)

(900

)

At 31 December 2016

161

7,109

5,539

12,809

Net book value

At 31 December 2016

206

9,141

3,961

13,308

At 31 December 2015

275

12,187

4,862

17,324

6.

Stocks

2016

2015

£

£

Finished goods

29,631

25,765

7.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

11,243

5,260

8.

Creditors: amounts falling due within one year

2016

2015

£

£

Trade creditors

36,220

41,545

Tax

17,153

11,860

VAT

6,536

5,497

Other creditors

658

375

Directors' current accounts

3,049

177

Accruals and deferred income

1,410

1,350

65,026

60,804

9.	Provisions for liabilities

2016

2015

£

£

Deferred tax

2,662

3,465

Deferred

tax

£

Balance at 1 January 2016

3,465

Credit to Statement of comprehensive income during year

(803

)

Balance at 31 December 2016

2,662

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1.00

2

2

11.	Ultimate controlling party

The directors Mr L Aires and Ms S Tucker, each hold one of the two issued shares and are therefore deemed to have joint

control of the company.