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Absolute Climate Ltd
Registered Number:06962525
For the year ended 31 July 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2017
Absolute Climate Ltd
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
As at 31 July 2017
Absolute Climate Ltd
Statement of Financial Position
Registered Number :
06962525
£
£
2016
2017
Notes
Fixed assets
Intangible assets
1,500
2,250
2
Property, plant and equipment
21,957
10,722
3
23,457
12,972
Current assets
Trade and other receivables
129,828
135,548
4
73,581
Cash and cash equivalents
95,722
231,270
203,409
Trade and other payables: amounts falling due within one
year
(98,724)
(122,585)
5
104,685
108,685
Net current assets
Total assets less current liabilities
132,142
117,657
Trade and other payables: amounts falling due after more
than one year
(10,134)
(7,159)
6
(4,172)
-
Provisions for liabilities
120,811
Net assets
107,523
Capital and reserves
Called up share capital
10
10
Retained earnings
120,801
107,513
120,811
107,523
Shareholders' funds
For the year ended 31 July 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
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4
For the year ended 31 July 2017
Absolute Climate Ltd
Statement of Financial Position Continued
Mr Wayne Jobling Director
These financial statements were approved and authorised for issue by the Board on 15 December 2017 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 July 2017
Absolute Climate Ltd
Notes to the Financial Statements
Statutory Information
Absolute Climate Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06962525.
Principal place of business:
Unit 1, Beaufort
Parklands, Railton Road
Guildford
Surrey
GU2 9JX
Registered address:
C/O Emmaus Chartered Accountants
Westmead House
Westmead
Farnborough
GU14 7LP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Straight line
25% Straight line
Computer equipment
25% Straight line
Motor vehicles
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
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6
For the year ended 31 July 2017
Absolute Climate Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 August 2016
7,500
At 31 July 2017
7,500
Amortisation
At 01 August 2016
5,250
750
Charge for year
At 31 July 2017
6,000
Net book value
At 31 July 2017
1,500
At 31 July 2016
2,250
3. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 August 2016
44,654
1,131
40,852
2,671
22,132
584
17,461
4,087
Additions
-
(10,139)
-
Disposals
(10,139)
At 31 July 2017
6,758
48,174
1,715
56,647
Provision for depreciation and impairment
At 01 August 2016
33,932
573
32,024
1,335
Charge for year
10,897
1,450
8,779
668
(10,139)
-
(10,139)
-
On disposal
At 31 July 2017
34,690
2,023
30,664
2,003
At 31 July 2017
Net book value
4,755
17,510
(308)
21,957
At 31 July 2016
1,336
8,828
558
10,722
4. Trade and other receivables
2016
2017
£
£
Trade debtors
94,534
109,903
Other debtors
41,014
19,925
129,828
135,548
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For the year ended 31 July 2017
Absolute Climate Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
52,546
27,918
Taxation and social security
38,922
50,983
Other creditors
31,117
19,823
122,585
98,724
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
7,159
10,134
Amounts falling due after more than one year include directors' loans (see Note 6).
7. Guarantees and other financial commitments
Lease commitments
The company had commitments under operating leases totalling £38,023 at thebalance sheet date
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