Absolute Project Management Limited

Registered number

04531059

Unaudited Filleted Accounts

30 September 2017

Absolute Project Management Limited
Registered number:		04531059
Balance Sheet
as at 30 September 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	4		2,365			2,956

Current assets
Debtors	5	11,669			10,389
Cash at bank and in hand		19,963			6,463
		31,632			16,852

Creditors: amounts falling due within one year	6	(29,384)			(15,385)

Net current assets			2,248			1,467

Total assets less current liabilities			4,613			4,423


Provisions for liabilities			(462)			(592)


Net assets			4,151			3,831

Capital and reserves
Called up share capital			100			100
Profit and loss account			4,051			3,731

Shareholders' funds			4,151			3,831

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr I Chapman
Director
Approved by the board on 19 December 2017

Absolute Project Management Limited
Notes to the Accounts
for the year ended 30 September 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office equipment			20% reducing balance

	Debtors and creditors receivable/payable within one year
	Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at the transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	First-time adoption of FRS102 1A

	Transition to reporting under FRS102 1A has not significantly affected the financial position and performance of the company.

3	Employees					2017		2016
Number							Number

	Average number of persons employed by the company					2		2


4	Tangible fixed assets
								Office equipment
£
	Cost
	At 1 October 2016							6,957
	At 30 September 2017							6,957

	Depreciation
	At 1 October 2016							4,001
	Charge for the year							591
	At 30 September 2017							4,592

	Net book value
	At 30 September 2017							2,365
	At 30 September 2016							2,956


5	Debtors					2017		2016
£							£

	Trade debtors					10,712		8,640
	Prepayments and accrued income					330		522
	Other debtors					627		1,227
						11,669		10,389


6	Creditors: amounts falling due within one year					2017		2016
£							£

	Taxation and social security costs					24,065		14,031
	Accruals and deferred income					1,595		1,354
	Other creditors					3,724		-
						29,384		15,385


7	Loans (from)/to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Interest free and repayable on	(711)		10,380		(5,885)		3,784

		(711)		10,380		(5,885)		3,784


8	Other information

	Absolute Project Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
	5 Providence Court
	Pynes Hill
	Exeter
	Devon
	EX2 5JL