Registered Number 06661883

ABSOLUTE POWER TOOLS LTD

Abbreviated Accounts

31 August 2016

ABSOLUTE POWER TOOLS LTD Registered Number 06661883

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets - -
Tangible assets 2 77,676 64,207
Investments - -
77,676 64,207
Current assets
Stocks 97,753 80,514
Debtors 86,395 103,334
Investments - -
Cash at bank and in hand 74,541 13,665
258,689 197,513
Creditors: amounts falling due within one year (108,304) (86,889)
Net current assets (liabilities) 150,385 110,624
Total assets less current liabilities 228,061 174,831
Creditors: amounts falling due after more than one year (21,585) (12,522)
Total net assets (liabilities) 206,476 162,309
Capital and reserves
Called up share capital 3 6 6
Profit and loss account 206,470 162,303
Shareholders' funds 206,476 162,309
  • For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 May 2017

And signed on their behalf by:
T Curtis, Director

ABSOLUTE POWER TOOLS LTD Registered Number 06661883

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Tools for rehire - 3 and 5 years straight line
Plant and machinery - 3 years straight line
Fixtures, fittings
and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Software - 3 and 5 years straight line

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 September 2015 158,085
Additions 48,016
Disposals (3,350)
Revaluations -
Transfers -
At 31 August 2016 202,751
Depreciation
At 1 September 2015 93,878
Charge for the year 34,547
On disposals (3,350)
At 31 August 2016 125,075
Net book values
At 31 August 2016 77,676
At 31 August 2015 64,207
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
4 B Ordinary shares of £1 each 4 4
2 Ordinary shares of £1 each 2 2