Absolute Blinds Limited - Accounts to registrar

REGISTERED NUMBER: 04188860 (England and Wales)

Financial Statements

for the Year Ended 31 March 2017

for

Absolute Blinds Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A B Goode

Mr S Johnson

Mr N W Goode

Mr P G Smith

SECRETARY:

Mr W B Wilson

REGISTERED OFFICE:

3 Morley's Place

Sawston

Cambridge

Cambridgeshire

CB22 3TG

REGISTERED NUMBER:

04188860 (England and Wales)

ACCOUNTANTS:

PB Sandcroft Management Services Limited

3 Morleys Place

High Street

Sawston

Cambridge

Cambridgeshire

CB22 3TG

FIXED ASSETS

Intangible assets

4

45,000

49,500

Tangible assets

5

4,384

2,455

49,384

51,955

CURRENT ASSETS

Stocks

21,364

12,000

Debtors

6

93,877

48,927

Cash at bank and in hand

67,979

66,753

183,220

127,680

CREDITORS

Amounts falling due within one year

7

88,801

58,352

NET CURRENT ASSETS

94,419

69,328

TOTAL ASSETS LESS CURRENT
LIABILITIES

143,803

121,283

CREDITORS

Amounts falling due after more than one
year

8

(47,910

)

(47,910

)

PROVISIONS FOR LIABILITIES

(700

)

-

NET ASSETS

95,193

73,373

CAPITAL AND RESERVES

Called up share capital

103

Retained earnings

95,090

73,270

SHAREHOLDERS' FUNDS

95,193

73,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 22 November 2017 and were signed on its behalf
by:

Mr A B Goode - Director

1.	STATUTORY INFORMATION

Absolute Blinds Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Office Equipment

-

25% on a straight line basis

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

90,000

AMORTISATION

At 1 April 2016

40,500

Charge for year

4,500

At 31 March 2017

45,000

NET BOOK VALUE

At 31 March 2017

45,000

At 31 March 2016

49,500

5.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

machinery

Equipment

vehicles

Totals

£

COST

At 1 April 2016

4,150

3,706

10,795

18,651

Additions

-

2,631

-

2,631

Disposals

-

(125

)

-

(125

)

At 31 March 2017

4,150

6,212

10,795

21,157

DEPRECIATION

At 1 April 2016

3,165

2,956

10,075

16,196

Charge for year

246

276

180

702

Eliminated on disposal

-

(125

)

-

(125

)

At 31 March 2017

3,411

3,107

10,255

16,773

NET BOOK VALUE

At 31 March 2017

739

3,105

540

4,384

At 31 March 2016

985

750

720

2,455

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

71,357

44,101

Other debtors

15,150

763

Directors' loan accounts

5,469

2,103

Corporation tax

-

11

Prepayments and accrued income

1,901

1,949

93,877

48,927

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

38,431

31,170

Corporation tax

10,287

-

Social security and other taxes

429

10,908

VAT

25,349

11,037

Other creditors

12,201

3,642

Directors' loan accounts

604

95

Accrued expenses

1,500

88,801

58,352

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

ANT Properties loan

47,910

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2017 the company was owed £5,469 [2016: £2,103] by Mr S Johnson, a director of the company.

Also on the aforementioned date, the company owed £267 [2016: £95] to Mr A B Goode and £337 to Mr N

Goode, directors of the company.

10.	RELATED PARTY DISCLOSURES

As at 31 March 2017 the company owed £47,910 [2016: £47,910] to ANT Properties, a partnership which is 50% and 25% owned by Mr N Goode (a shareholder of Absolute Blinds Limited) and Mr A B Goode (a director and shareholder of Absolute Blinds Limited) respectively.

This loan is included in creditors amounts falling due after more than one year.

During the year, ANT Properties charged interest of £3,900 [2016: £4,872] to Absolute Blinds Limited for the use
of this loan.

The company operates from a property owned by ANT Properties and paid rent of £19,514 during the year.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr S Johnson 49% shareholder, Mr A B Goode 26% shareholder and Mr N

Goode 25% shareholder.