REGISTERED NUMBER: 02942040 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Absolute Design Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Ellis

P Crosson

REGISTERED OFFICE:

Haddon House

27 Millicent Road

West Bridgford

Nottingham

NG2 7PZ

REGISTERED NUMBER:

02942040 (England and Wales)

FIXED ASSETS

Tangible assets

4

416,133

376,493

CURRENT ASSETS

Stocks

4,015

4,015

Debtors

5

249,595

156,527

Cash at bank and in hand

10

15,801

253,620

176,343

CREDITORS

Amounts falling due within one year

6

216,858

190,385

NET CURRENT ASSETS/(LIABILITIES)

36,762

(14,042

)

TOTAL ASSETS LESS CURRENT LIABILITIES

452,895

362,451

CREDITORS

Amounts falling due after more than one year

7

53,633

5,589

NET ASSETS

399,262

356,862

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

8

399,258

356,858

399,262

356,862

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 October 2017 and were signed on its behalf by:

D Ellis - Director

P Crosson - Director

1.	STATUTORY INFORMATION

Absolute Design Associates 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.

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 etc

-

25% on reducing balance and 10% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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

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 17 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2016

224,049

214,096

438,145

Additions

-

58,675

58,675

Disposals

-

(3,000

)

(3,000

)

At 31 May 2017

224,049

269,771

493,820

DEPRECIATION

At 1 June 2016

-

61,652

61,652

Charge for year

-

18,086

18,086

Eliminated on disposal

-

(2,051

)

(2,051

)

At 31 May 2017

-

77,687

77,687

NET BOOK VALUE

At 31 May 2017

224,049

192,084

416,133

At 31 May 2016

224,049

152,444

376,493

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

136,107

141,320

Other debtors

113,488

15,207

249,595

156,527

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

44,632

9,998

Hire purchase contracts

10,803

5,661

Trade creditors

49,956

76,315

Taxation and social security

78,195

86,650

Other creditors

33,272

11,761

216,858

190,385

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans

48,329

-

Hire purchase contracts

5,304

5,589

53,633

5,589

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

19,885

-

8.

RESERVES

Retained

earnings

£

At 1 June 2016

356,858

Profit for the year

144,544

Dividends

(102,144

)

At 31 May 2017

399,258

9.	FIRST YEAR ADOPTION

First year adoption of FRS102 was applied for the year ended 31st May 2017. There were no reclassifications required

during the year.