The Absorbeez Company Limited - Accounts to registrar

REGISTERED NUMBER: 04447115

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

THE ABSORBEEZ COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A C Habbershaw

S Benjamin

SECRETARY:

S Benjamin

REGISTERED OFFICE:

Riverside House

1/5 Como Street

Romford

Essex

RM7 7DN

REGISTERED NUMBER:

04447115

ACCOUNTANTS:

Clemence Hoar Cummings LLP

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

FIXED ASSETS

Intangible assets

3

2,743

2,633

CURRENT ASSETS

Stocks

27,482

23,801

Debtors

4

32,931

25,761

Cash at bank

2,273

3,113

62,686

52,675

CREDITORS

Amounts falling due within one year

5

52,592

40,107

NET CURRENT ASSETS

10,094

12,568

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,837

15,201

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

12,737

15,101

SHAREHOLDERS' FUNDS

12,837

15,201

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 June 2017 and were signed on
its behalf by:

A C Habbershaw - Director

1.	STATUTORY INFORMATION

The Absorbeez Company Limited is a private company, limited by shares , registered in Not

specified/Other. 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2016

2,926

Additions

697

At 31 March 2017

3,623

AMORTISATION

At 1 April 2016

293

Amortisation for year

587

At 31 March 2017

880

NET BOOK VALUE

At 31 March 2017

2,743

At 31 March 2016

2,633

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

23,438

16,411

Loan - Absorbeez LLC

7,291

7,419

Taxation

495

-

VAT

1,707

1,931

32,931

25,761

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

36,018

28,138

Taxation

-

495

Action Dry Emergency Services

Ltd

10,033

4,933

Accrued expenses

6,541

52,592

40,107

6.	RELATED PARTY DISCLOSURES

AC Habbershaw is a Director and controlling shareholder of Action Dry Emergency Services Ltd to

whom The Absorbeez Company Ltd owes £10,033 on loan. AC Habbershaw is a Director and 50%

shareholder of The Absorbeez Company Ltd.

Management charges of £3000 were paid to Action dry emergency Services Ltd in the year ended

31/3/17.

AC Habbershaw are also directors and shareholders of Absorbeez LLC which owes the company

£7,291 on loan.