REGISTERED NUMBER: SC328796 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Absolute Solar And Wind Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C E Kent

J M N Newall

T M L Newall

G Provest

REGISTERED OFFICE:

2 Stewart Street

Milngavie

Glasgow

G62 6BW

REGISTERED NUMBER:

SC328796 (Scotland)

ACCOUNTANTS:

Bell Barr & Company

Chartered Accountants

2 Stewart Street

Milngavie

Glasgow

G62 6BW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

263,276

236,398

263,276

236,398

CURRENT ASSETS

Stocks

6

173,008

362,994

Debtors

7

1,638,186

1,080,446

Cash at bank and in hand

9,576

439,497

1,820,770

1,882,937

CREDITORS

Amounts falling due within one year

8

914,234

862,066

NET CURRENT ASSETS

906,536

1,020,871

TOTAL ASSETS LESS CURRENT LIABILITIES

1,169,812

1,257,269

CREDITORS

Amounts falling due after more than one year

9

(23,051

)

(49,364

)

PROVISIONS FOR LIABILITIES

(848,127

)

(735,974

)

NET ASSETS

298,634

471,931

CAPITAL AND RESERVES

Called up share capital

791

791

Share premium

34,997

34,997

Retained earnings

262,846

436,143

SHAREHOLDERS' FUNDS

298,634

471,931

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 5 October 2017 and were signed on its behalf by:

T M L Newall - Director

1.	STATUTORY INFORMATION

Absolute Solar And Wind Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Long term contracts are stated at net cost less forseeable losses less any applicable payments on account. The amount

recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work carried out to

date. Attributable profit is recognised as the difference between recorded turnover and related costs.

Financial instruments

All financial assets and liabilities of the company are basic financial instruments and are recognised initially at transaction

value, and subsequently at settlement value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2016

and 28 February 2017

25,500

AMORTISATION

At 1 March 2016

and 28 February 2017

25,500

NET BOOK VALUE

At 28 February 2017

-

At 29 February 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 March 2016

46,446

89,540

7,216

Additions

42,502

36,204

-

At 28 February 2017

88,948

125,744

7,216

DEPRECIATION

At 1 March 2016

15,366

27,531

1,623

Charge for year

9,615

12,916

839

At 28 February 2017

24,981

40,447

2,462

NET BOOK VALUE

At 28 February 2017

63,967

85,297

4,754

At 29 February 2016

31,080

62,009

5,593

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2016

174,429

30,347

347,978

Additions

8,500

865

88,071

At 28 February 2017

182,929

31,212

436,049

DEPRECIATION

At 1 March 2016

50,032

17,028

111,580

Charge for year

32,287

5,536

61,193

At 28 February 2017

82,319

22,564

172,773

NET BOOK VALUE

At 28 February 2017

100,610

8,648

263,276

At 29 February 2016

124,397

13,319

236,398

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2016

and 28 February 2017

28,000

116,849

144,849

DEPRECIATION

At 1 March 2016

and 28 February 2017

8,266

26,311

34,577

NET BOOK VALUE

At 28 February 2017

19,734

90,538

110,272

At 29 February 2016

19,734

90,538

110,272

6.

STOCKS

28.2.17

29.2.16

£

£

Stocks

118,092

97,096

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

225,957

291,458

Amounts recoverable on contract

1,211,273

706,428

Other debtors

200,956

82,560

1,638,186

1,080,446

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Hire purchase contracts

49,503

52,681

Payments on account

169,443

35,330

Trade creditors

315,824

467,783

Taxation and social security

139,629

196,648

Other creditors

239,835

109,624

914,234

862,066

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

29.2.16

£

£

Hire purchase contracts

23,051

49,364

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2017 and 29 February 2016:

28.2.17

29.2.16

£

£

T M L Newall

Balance outstanding at start of year

-

381

Amounts advanced

211

-

Amounts repaid

-

(381

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

211

-

11.	FIRST YEAR ADOPTION

The financial statements for the year to 28 February 2017 are the first to comply with FRS 102. The date of transition to

FRS 102 is 1 March 2016. No changes to opening equity or profit for the comparative period were made as a result of the

transition.