REGISTERED NUMBER: 07147944 (England and Wales)

Unaudited Financial Statements for the Year Ended 28th February 2017

for

Absolute Electrical Installations Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr R J Rimmer

REGISTERED OFFICE:

Cottams Farm

Shore Road

Hesketh Bank

Lancashire

PR4 6XP

REGISTERED NUMBER:

07147944 (England and Wales)

FIXED ASSETS

Tangible assets

4

202,959

38,897

CURRENT ASSETS

Stocks

5

950

625

Debtors

6

154,278

141,883

Cash at bank

3,396

70,823

158,624

213,331

CREDITORS

Amounts falling due within one year

7

103,372

100,581

NET CURRENT ASSETS

55,252

112,750

TOTAL ASSETS LESS CURRENT LIABILITIES

258,211

151,647

CREDITORS

Amounts falling due after more than one year

8

(45,651

)

(17,052

)

PROVISIONS FOR LIABILITIES

10

(19,122

)

(7,390

)

NET ASSETS

193,438

127,205

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

193,437

127,204

SHAREHOLDERS' FUNDS

193,438

127,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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 Income Statement has not been delivered.

The financial statements were approved by the director on 28th November 2017 and were signed by:

Mr R J Rimmer - Director

1.	STATUTORY INFORMATION

Absolute Electrical Installations 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the net sales value of products and services provided during the period.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 29th February 2016

-

12,935

1,609

Additions

102,838

8,068

5,578

At 28th February 2017

102,838

21,003

7,187

DEPRECIATION

At 29th February 2016

-

7,435

902

Charge for year

-

1,124

523

At 28th February 2017

-

8,559

1,425

NET BOOK VALUE

At 28th February 2017

102,838

12,444

5,762

At 28th February 2016

-

5,500

707

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 29th February 2016

56,288

7,085

77,917

Additions

56,906

-

173,390

At 28th February 2017

113,194

7,085

251,307

DEPRECIATION

At 29th February 2016

25,161

5,522

39,020

Charge for year

6,958

723

9,328

At 28th February 2017

32,119

6,245

48,348

NET BOOK VALUE

At 28th February 2017

81,075

840

202,959

At 28th February 2016

31,127

1,563

38,897

The net book value of fixed assets subject to hire purchase agreements is £56,741 (£16,844 at

28.2.2016).

5.

STOCKS

28.2.17

28.2.16

£

£

Stocks- Finished goods

950

625

6.

DEBTORS

28.2.17

28.2.16

£

£

Amounts falling due within one year:

Trade debtors

91,157

66,253

Other Debtors

1,600

-

Directors' current accounts

47,933

58,987

Accrued income

1,605

1,896

142,295

127,136

Amounts falling due after more than one year:

Taxation

11,983

14,747

Aggregate amounts

154,278

141,883

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

28.2.16

£

£

Hire purchase contracts

8,901

4,771

Trade creditors

35,659

31,519

Corporation Tax

27,704

22,959

Social security and other taxes

34

111

VAT

27,187

32,789

Other creditors

-

6,055

Accruals

3,887

2,377

103,372

100,581

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

28.2.16

£

£

Hire purchase contracts

45,651

17,052

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.17

28.2.16

£

£

Hire purchase contracts

54,552

21,823

10.	PROVISIONS FOR LIABILITIES

28.2.17

28.2.16

£

£

Deferred taxation

19,122

7,390

Deferred

tax

£

Balance at 29th February 2016

7,390

Provided during year

11,732

Balance at 28th February 2017

19,122

The deferred tax provision relates to capital allowances available in excess of depreciation charges on

fixed assets.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2017

and 28th February 2016:

28.2.17

28.2.16

£

£

Mr R J Rimmer

Balance outstanding at start of year

58,987

66,628

Amounts advanced

97,496

26,369

Amounts repaid

(108,550

)

(34,010

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

47,933

58,987

The director's loan is repayable on demand. Interest at a commercial rate is charged annually in

arrears.

12.	ULTIMATE CONTROLLING PARTY

The director, Mr.R.Rimmer, is the ultimate controlling party.