REGISTERED NUMBER: 03568676 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

ABSOLUTE APPLICATIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Kleanthous Esq

Mrs A Sellar

R J Clark Esq

SECRETARY:

G Kleanthous Esq

REGISTERED OFFICE:

4 Prince Albert Road

London

NW1 7SN

REGISTERED NUMBER:

03568676 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Tangible assets

2

16,836

21,953

Investments

3

6,883

6,883

23,719

28,836

CURRENT ASSETS

Debtors

2,473,673

2,161,933

Cash at bank and in hand

42,377

174,730

2,516,050

2,336,663

CREDITORS

Amounts falling due within one year

4

2,427,634

2,319,579

NET CURRENT ASSETS

88,416

17,084

TOTAL ASSETS LESS CURRENT LIABILITIES

112,135

45,920

PROVISIONS FOR LIABILITIES

2,776

3,669

NET ASSETS

109,359

42,251

CAPITAL AND RESERVES

Called up share capital

5

81

81

Capital redemption reserve

51

51

Profit and loss account

109,227

42,119

SHAREHOLDERS' FUNDS

109,359

42,251

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 April 2017 and were signed on its behalf by:

G Kleanthous Esq - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts receivable for services net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Office equipment

-

25% on reducing balance

Fixtures fittings and equipment

-

25% on reducing balance

Software licences and database

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at cost less adjustment, where necessary, for impairment in value. Impairment

charges are recorded if events or changes in circumstances indicate that the carrying value may not be

recoverable. If the provision is no longer required, the provision is written back to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

178,503

DEPRECIATION

At 1 August 2015

156,550

Charge for year

5,117

At 31 July 2016

161,667

NET BOOK VALUE

At 31 July 2016

16,836

At 31 July 2015

21,953

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 August 2015

and 31 July 2016

6,883

NET BOOK VALUE

At 31 July 2016

6,883

At 31 July 2015

6,883

4.

CREDITORS

Creditors include an amount of £ 1,283,016 (2015 - £ 1,112,158 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

5,000

Ordinary

1p

50

51

(2015 - 5,100 )

2,000

Ordinary 'A'

1p

20

20

1,000

Ordinary 'C'

1p

10

10

100

Ordinary 'D'

1p

1

-

81

81

The ordinary shares have full voting rights whereas the ordinary 'A' and ordinary 'C' shares have no voting rights

or control of the company.

100 ordinary shares were reclassified as ordinary 'D' shares during the year.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2016 and

31 July 2015:

2016

2015

£

£

G Kleanthous Esq

Balance outstanding at start of year

-

-

Amounts advanced

38,868

-

Amounts repaid

-

-

Balance outstanding at end of year

38,868

-

During the year under review the company paid rent totalling £43,982 (2015: £43,982) in respect of a business

premises owned by G Kleanthous Esq.

The director's current account was repaid on 31st March 2017.