REGISTERED NUMBER: 07209471 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

ABSOLUTE FIRST LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms V Gilmore

REGISTERED OFFICE:

The Basement

26a Lever Street

Manchester

M1 1AW

REGISTERED NUMBER:

07209471 (England and Wales)

ACCOUNTANTS:

DPM Accounting Services Ltd

Chartered Accountants

The Old Vicarage

50 Fielding Lane

Oswaldtwistle

Lancashire

BB5 3BH

FIXED ASSETS

Intangible assets

2

17,286

17,286

Tangible assets

3

2,073

2,073

19,359

19,359

CURRENT ASSETS

Stocks

65,000

35,000

Debtors

19,130

16,222

Cash at bank and in hand

2,851

5,171

86,981

56,393

CREDITORS

Amounts falling due within one year

68,357

51,782

NET CURRENT ASSETS

18,624

4,611

TOTAL ASSETS LESS CURRENT LIABILITIES

37,983

23,970

CREDITORS

Amounts falling due after more than one year

48,139

33,379

NET LIABILITIES

(10,156

)

(9,409

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(10,157

)

(9,410

)

SHAREHOLDERS' FUNDS

(10,156

)

(9,409

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 September 2015 and were signed by:

Ms V Gilmore - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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

-

15% 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.

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

20,640

AMORTISATION

At 1 January 2014

and 31 December 2014

3,354

NET BOOK VALUE

At 31 December 2014

17,286

At 31 December 2013

17,286

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

2,073

NET BOOK VALUE

At 31 December 2014

2,073

At 31 December 2013

2,073

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

1

Ordinary

£1

1

1