Absolute Display Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 04329687

ABSOLUTE DISPLAY LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 December 2015

ABSOLUTE DISPLAY LIMITED

ABBREVIATED BALANCE SHEET

31 December 2015

		2015		2014
Note		£	£	£
Fixed assets	2
Tangible assets			5,166	6,681
			-------	-------

Current assets

Stocks	2,600		2,550
Debtors	44,581		24,062
Cash at bank and in hand	2,461		1,399
	--------		--------
	49,642		28,011
Creditors: Amounts falling due within one year	( 34,650)		( 26,157)
	--------		--------
Net current assets		14,992	1,854
		--------	-------
Total assets less current liabilities		20,158	8,535

Provisions for liabilities	( 1,033)	( 1,336)
	--------	-------
	19,125	7,199
	--------	-------

Capital and reserves

Called up equity share capital	3	100	100
Profit and loss account		19,025	7,099
		--------	-------
Shareholders' funds		19,125	7,199
		--------	-------

For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 21 October 2016 , and are signed on their behalf by:

Mr P K Lea Smith

Company Registration Number: 04329687

ABSOLUTE DISPLAY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 DECEMBER 2015

1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery-20% reducing balance

Fixtures & Fittings-20% reducing balance

Motor Vehicles-25% 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 taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2. Fixed assets

	Tangible Assets
	£

Cost

At 1 January 2015	20,500
Additions	130
	--------
At 31 December 2015	20,630
	--------

Depreciation

At 1 January 2015	13,819
Charge for year	1,645
	--------
At 31 December 2015	15,464
	--------

Net book value

At 31 December 2015	5,166
	-------

At 31 December 2014	6,681
	-------

3. Share capital

Authorised share capital:

	2015	2014
	£	£
900 Ordinary shares of £ 1 each	900	900
50 Ordinary A shares of £ 1 each	50	50
50 Ordinary B shares of £ 1 each	50	50
	-------	-------
	1,000	1,000
	-------	-------

Allotted, called up and fully paid:

	2015		2014
	No.	£	No.	£
Ordinary A shares of £ 1 each	50	50	50	50

Ordinary B shares of £ 1 each	50	50	50	50
	----	----	----	----
	100	100	100	100
	----	----	----	----

4. Transactions with directors

The following directors has interest free loans during the year. The movements on these loans are as follows:

	Amount owing 2015	Amount owing 2014	Maximum in the year
	£	£	£
P K Lea Smith	5,520	–	5,520
S P Hill	1,810	2,996	5,423