REGISTERED NUMBER: 06059488 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ABSOLUTE EDGE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J G Coombs

J E Barlow

REGISTERED OFFICE:

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

REGISTERED NUMBER:

06059488 (England and Wales)

ACCOUNTANTS:

Advanta

Chartered Accountants

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

FIXED ASSETS

Tangible assets

3

3,157

4,283

CURRENT ASSETS

Stocks

4

31,528

51,308

Debtors

5

115,867

134,351

Cash at bank and in hand

63

1,924

147,458

187,583

CREDITORS

Amounts falling due within one year

6

302,449

327,925

NET CURRENT LIABILITIES

(154,991

)

(140,342

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(151,834

)

(136,059

)

PROVISIONS FOR LIABILITIES

8

631

857

NET LIABILITIES

(152,465

)

(136,916

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(152,565

)

(137,016

)

SHAREHOLDERS' FUNDS

(152,465

)

(136,916

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 29 September 2017 and were signed on its behalf by:

J E Barlow - Director

1.	STATUTORY INFORMATION

Absolute Edge Ltd 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

Going concern

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.

These financial statements have been prepared on the basis that the company will continue to be a going

concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the

value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to

reclassify fixed assets and long term liabilities as current assets and liabilities.

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.

Furniture,fittings & equipment

-

25% on reducing balance

Computer equipment

-

Over 3 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

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.

3.	TANGIBLE FIXED ASSETS

Furniture,fittings

Computer

& equipment

equipment

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

19,481

9,361

28,842

DEPRECIATION

At 1 January 2016

15,271

9,288

24,559

Charge for year

1,053

73

1,126

At 31 December 2016

16,324

9,361

25,685

NET BOOK VALUE

At 31 December 2016

3,157

-

3,157

At 31 December 2015

4,210

73

4,283

4.

STOCKS

2016

2015

£

£

Stocks

31,247

19,831

Work-in-progress

281

31,477

31,528

51,308

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

71,209

23,543

Other debtors

44,658

110,183

VAT

-

625

115,867

134,351

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

59,115

82,458

Trade creditors

146,724

149,920

Amounts owed to related undertakings

-

12,415

Tax

29,643

33,691

VAT

7,523

-

Other creditors

21,366

20,581

Directors' loan accounts

22,738

12,420

Accrued expenses

15,340

16,440

302,449

327,925

7.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdrafts

59,115

82,458

The bank overdraft facility is secured by an all asset debenture dated 13 June 2012.

8.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

631

857

Deferred

tax

£

Balance at 1 January 2016

857

Provided during year

(226

)

Balance at 31 December 2016

631

9.	ULTIMATE CONTROLLING PARTY

There is no Ultimate Controlling Party.