Registered Number 07262176
ABSOLUTE SAVING CENTRE LIMITED
Abbreviated Accounts
31 January 2013
Notes | 31/01/2013 | 30/09/2011 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Debtors |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
( |
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Creditors: amounts falling due after more than one year |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Depreciation
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25% reducing balance
Intangible assets amortisation policy
Goodwill - over 3 years
Other accounting policies
The financial statements have been prepared on the going concern basis. The company is reliant on it's parent company, Absolute Installation Limited, which has indicated that it will not demand repayment of it's loan account until the company is in a satisfactory position to repay this. Based on this the directors consider the going concern basis to be appropriate.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
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 tax, or a right to pay less tax, or a right to receive repayments of tax.
Deferred tax assets are recognised only to the extent that the directors consider it 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 assets and liabilities recognised have not been discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 October 2011 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2013 |
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Amortisation | |
At 1 October 2011 |
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Charge for the year |
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On disposals |
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At 31 January 2013 |
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Net book values | |
At 31 January 2013 | 2,084 |
At 30 September 2011 | - |
£ | |
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Cost | |
At 1 October 2011 |
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Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
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At 31 January 2013 |
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Depreciation | |
At 1 October 2011 |
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Charge for the year |
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On disposals |
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At 31 January 2013 |
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Net book values | |
At 31 January 2013 | 2,099 |
At 30 September 2011 | - |