ABSOLUTELY_SOFTWARE_LIMIT

ABSOLUTELY SOFTWARE LIMITED

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE

UNAUDITED STATUTORY ACCOUNTS OF ABSOLUTELY SOFTWARE LIMITED

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The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Absolutely Software Limited for the year ended 31 December 2015 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Absolutely Software Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Absolutely Software Limited and state those matters that we have agreed to state to the Board of Directors of Absolutely Software Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolutely Software Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Absolutely Software Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Absolutely Software Limited. You consider that Absolutely Software Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Absolutely Software Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Warneford Gibbs

College House

Chartered Certified Accountants

17 King Edwards Road

Ruislip

Middlesex

United Kingdom

HA4 7AE

20 September 2016

ABSOLUTELY SOFTWARE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

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2015

2014

Notes

Fixed assets

Tangible assets

7,356

Current assets

Debtors

7,450

15,543

Cash at bank and in hand

6,112

7,516

21,655

Creditors: amounts falling due within one year

(4,066)

(26,528)

Net current assets/(liabilities)

3,450

(4,873)

Total assets less current liabilities

3,450

2,483

Provisions for liabilities

(770)

3,450

1,713

Capital and reserves

Called up share capital

Profit and loss account

3,448

1,711

Shareholders' funds

3,450

1,713

ABSOLUTELY SOFTWARE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

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For the financial year ended 31 December 2015 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 15 September 2016

J Salling-Ash

Director

Company Registration No. 03291443

ABSOLUTELY SOFTWARE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

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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 gross work done inclusive of VAT as the company is within the flat rate scheme.

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:

Office Building

nil

Equipment

25% & 33% reducing balance

1.5

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

ABSOLUTELY SOFTWARE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

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Fixed assets

Tangible assets

Cost

At 1 January 2015

11,381

Disposals

(11,381)

At 31 December 2015

Depreciation

At 1 January 2015

4,025

On disposals

(5,190)

Charge for the year

1,165

At 31 December 2015

Net book value

At 31 December 2015

At 31 December 2014

7,356

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Related party relationships and transactions

Loans to directors

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

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

M Ash - Loan

7,771

3,712

7,771

3,712

J Salling-Ash - Loan

7,772

3,712

7,772

3,712

15,543

7,424

15,543

7,424

The loans were repaid on 15 September 2016.