ABSOLUTE_ESCAPES_LIMITED

ABSOLUTE ESCAPES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

7,068

2,696

Current assets

Stocks

8,140

9,130

Debtors

51,383

31,890

Cash at bank and in hand

139,248

124,507

198,771

165,527

Creditors: amounts falling due within one year

(164,857)

(146,985)

Net current assets

33,914

18,542

Total assets less current liabilities

40,982

21,238

Provisions for liabilities

(1,413)

(539)

39,569

20,699

Capital and reserves

Called up share capital

15,000

Profit and loss account

24,569

5,699

Shareholders' funds

39,569

20,699

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 January 2017

Mr A M Gabe

Mrs S M Tulloch

Director

Company Registration No. SC270516

ABSOLUTE ESCAPES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

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

Computer Equipment

33% Straight Line

Fixtures, fittings & equipment

15% Reducing Balance

1.5

Leasing

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

1.6

Stock

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

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

ABSOLUTE ESCAPES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

22,473

Additions

7,543

At 30 September 2016

30,016

Depreciation

At 1 October 2015

19,777

Charge for the year

3,171

At 30 September 2016

22,948

Net book value

At 30 September 2016

7,068

At 30 September 2015

2,696

Transactions with directors

The following directors had loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2016

2015

in year

Mr A Gabe

135

Mrs S Tulloch

135

During the year the directors were advanced £Nil (2015 £Nil) and repaid £270 (2015 £15,312).

These loans are unsecured, interest free and have no fixed terms of repayment.

Share capital

2016

2015

Allotted, called up and fully paid

15,000 Ordinary shares of £1 each

15,000