REGISTERED NUMBER: 07381048 (England and Wales)

Unaudited Financial Statements

for the year ended

30th September 2017

for

Absolute Reflections Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Gunes

G Sheridan

REGISTERED OFFICE:

12b Sun Street

Waltham Abbey

Essex

EN9 1EE

REGISTERED NUMBER:

07381048 (England and Wales)

ACCOUNTANTS:

Apple Accounting Services Ltd

Chartered Management Accountants

12b Sun Street

Waltham Abbey

Essex

EN9 1EE

FIXED ASSETS

Intangible assets

4

2,641

-

Tangible assets

5

62,388

26,365

65,029

26,365

CURRENT ASSETS

Stocks

8,008

7,534

Debtors

6

61,189

70,982

Cash at bank and in hand

143,069

129,757

212,266

208,273

CREDITORS

Amounts falling due within one year

7

67,339

67,409

NET CURRENT ASSETS

144,927

140,864

TOTAL ASSETS LESS CURRENT LIABILITIES

209,956

167,229

CREDITORS

Amounts falling due after more than one year

8

(30,105

)

-

PROVISIONS FOR LIABILITIES

(11,854

)

(5,273

)

NET ASSETS

167,997

161,956

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

167,995

161,954

SHAREHOLDERS' FUNDS

167,997

161,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 9th March 2018 and were signed on its behalf by:

G Sheridan - Director

1.	STATUTORY INFORMATION

Absolute Reflections 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

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30th September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1st October 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Misc. Intangible Assets are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 9 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

2,720

At 30th September 2017

2,720

AMORTISATION

Charge for year

79

At 30th September 2017

79

NET BOOK VALUE

At 30th September 2017

2,641

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st October 2016

71,958

Additions

46,845

At 30th September 2017

118,803

DEPRECIATION

At 1st October 2016

45,593

Charge for year

10,822

At 30th September 2017

56,415

NET BOOK VALUE

At 30th September 2017

62,388

At 30th September 2016

26,365

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st October 2016

8,495

Additions

39,900

Transfer to ownership

(8,495

)

At 30th September 2017

39,900

DEPRECIATION

At 1st October 2016

5,808

Charge for year

3,997

Transfer to ownership

(5,808

)

At 30th September 2017

3,997

NET BOOK VALUE

At 30th September 2017

35,903

At 30th September 2016

2,687

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

46,315

58,641

Other debtors

14,874

12,341

61,189

70,982

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,028

885

Trade creditors

10,716

4,584

Taxation and social security

45,732

60,104

Other creditors

2,863

1,836

67,339

67,409

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

30,105

-

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Gunes and G Sheridan.