Company Registration No. 07024298 (England and Wales)
ABSOLUTE WELLBEING LTD
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
ABSOLUTE WELLBEING LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
ABSOLUTE WELLBEING LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 1 -
The director presents his report and financial statements for the year ended 30 September 2016.
Principal activities
The principal activity of the company during the year continued to be that of manufacturing widgets.
Director
The following director has held office since 1 October 2015:
Mr M Candy
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Mr M Candy
Director
30 June 2017
ABSOLUTE WELLBEING LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABSOLUTE WELLBEING LTD FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Absolute Wellbeing Ltd for the year ended 30 September 2016 set out on pages 3 to 6 from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Absolute Wellbeing Ltd, as a body, in accordance with the terms of our engagement letter dated 25 September 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Absolute Wellbeing Ltd and state those matters that we have agreed to state to the Board of Directors of Absolute Wellbeing Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Wellbeing Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Absolute Wellbeing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Absolute Wellbeing Ltd. You consider that Absolute Wellbeing Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Absolute Wellbeing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
TaxAssist Accountants
30 June 2017
Accountants
476 St Albans Road
Watford
Herts
England
WD24 6QU
ABSOLUTE WELLBEING LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2016
2015
Notes
£
£
Turnover
7,362
4,374
Cost of sales
(235)
(104)
Gross profit
7,127
4,270
Administrative expenses
(9,907)
(5,045)
Loss on ordinary activities before taxation
2
(2,780)
(775)
Tax on loss on ordinary activities
3
-
-
Loss for the year
7
(2,780)
(775)
ABSOLUTE WELLBEING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 4 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
4
2,772
2,772
Cash at bank and in hand
3,575
16,993
6,347
19,765
Creditors: amounts falling due within one year
5
(9,950)
(20,588)
Total assets less current liabilities
(3,603)
(823)
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
7
(3,703)
(923)
Shareholders' funds
(3,603)
(823)
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board for issue on 30 June 2017
Mr M Candy
Director
Company Registration No. 07024298
ABSOLUTE WELLBEING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 5 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
2
Operating loss
2016
2015
£
£
Operating loss is stated after charging:
Director's remuneration
2,687
-
3
Taxation
4
Debtors
2016
2015
£
£
Trade debtors
2,772
2,772
5
Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
9,950
20,588
6
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
7
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 October 2015
(923)
Loss for the year
(2,780)
Balance at 30 September 2016
(3,703)
ABSOLUTE WELLBEING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 6 -
8
Related party relationships and transactions
The company was controlled throughout the year by its director Mr. Marcus Candy by the virtue of the fact he owned all the ordinary share capital of the company.
Included within other creditors are director current balance of £2,225.67 (2015 : £12,863.54)