ABSOLUTE CAD DESIGNS LTD - Accounts

ABSOLUTE CAD DESIGNS LTD - Accounts

ABSOLUTE CAD DESIGNS LIMITED - Company Information

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Registered number
06919095
ABSOLUTE CAD DESIGNS LTD
Report and Accounts
31 March 2015
ABSOLUTE CAD DESIGNS LTD
Report and accounts
Contents
Page
Company information 1
Director's report 2
Accountants' report 4
Profit and loss account 5
Balance sheet 6
Notes to the accounts 7
ABSOLUTE CAD DESIGNS LTD
Company Information
Director
Mr. Surjit Klair
Accountants
Bhatia & Co.
412 High Street
Warley
West Midlands
B66 3PJ
Bankers
Lloyds TSB
Colmore Branch
Birmingham
Registered office
99 Cherry Orchard Road
Handsworth Wood
Birmingham
B20 2LA
Registered number
06919095
ABSOLUTE CAD DESIGNS LTD
Registered number: 06919095
Director's Report
The director presents his report and accounts for the year ended 31 March 2015.
Principal activities
The company's principal activity during the year continued to be construction building designing.
Directors
The following persons served as directors during the year:
Mr. Surjit Klair
His beneficial interest in the issued share capial of the company was as follows:
31/03/2015
Ordinary £1 shares 1
Acquisition of own shares
[Reason for purchase]. The details of the shares purchased are as follows:
Class of share Ordinary shares
Amount paid £0
Nominal value of shares £0
Number of shares 0
Percentage of class purchased 0.0%
Employment of disabled persons
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 8 June 2015 and signed by its order.
Mr. Surjit Klair
Director
ABSOLUTE CAD DESIGNS LTD
Accountants' Report
Accountants' report to the director of
ABSOLUTE CAD DESIGNS LTD
You consider that the company is exempt from an audit for the year ended 31 March 2015. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Bhatia & Co.
Accountants
412 High Street
Smethwick
Warley
West Midlands
B66 3PJ
8 June 2015
ABSOLUTE CAD DESIGNS LTD
Profit and Loss Account
for the year ended 31 March 2015
Notes 2015 2014
£ £
Turnover 2 323,203 130,055
Cost of sales (183,279) (58,156)
Gross profit 139,924 71,899
Distribution costs - -
Administrative expenses (46,687) (52,731)
Other operating income - -
Operating profit 3 93,237 19,168
Exceptional items:
profit on the disposal of tangible fixed assets - -
profit on the disposal of investments - -
- -
93,237 19,168
Income from investments - -
Interest receivable - -
Interest payable 4 - -
Profit on ordinary activities before taxation 93,237 19,168
Tax on profit on ordinary activities 5 (18,587) (7,498)
Profit for the financial year 74,650 11,670
ABSOLUTE CAD DESIGNS LTD
Balance Sheet
as at 31 March 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 4,282 4,723
Investments 8 - -
4,282 4,723
Current assets
Stocks - -
Debtors 9 114,860 15,049
Investments held as current assets 10 - -
Cash at bank and in hand 60,965 75,920
175,825 90,969
Creditors: amounts falling due within one year 11 (90,598) (40,834)
Net current assets 85,227 50,135
Total assets less current liabilities 89,509 54,858
Creditors: amounts falling due after more than one year 12 - -
Provisions for liabilities 14 - -
Net assets 89,509 54,858
Capital and reserves
Called up share capital 15 2 1
Share premium 16 - -
Revaluation reserve 17 - -
Capital redemption reserve 18 - -
Profit and loss account 19 89,507 54,857
Shareholder's funds 89,509 54,858
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr Surjit Klair
Director
Approved by the board on 8 June 2015
ABSOLUTE CAD DESIGNS LTD
Notes to the Accounts
for the year ended 31 March 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Turnover 2015 2014
Turnover attributable to geographical markets outside the UK 0.0% 0.0%
3 Operating profit 2015 2014
£ £
This is stated after charging:
Depreciation of owned fixed assets 1,071 1,181
Depreciation of assets held under finance leases and hire purchase contracts - -
Amortisation of goodwill - -
Directors' remuneration - -
Compensation to past directors for loss of office - -
Pension costs - -
Auditors' remuneration - -
Exceptional costs associated with introducing the Euro - -
Number of directors to whom benefits accrued under money purchase pension schemes - -
4 Interest payable 2015 2014
£ £
Interest payable - -
Non-equity dividends - -
- -
5 Taxation 2015 2014
£ £
UK corporation tax 18,587 7,498
Deferred tax - -
18,587 7,498
6 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2014 -
Additions -
Disposals -
At 31 March 2015 -
Amortisation
At 1 April 2014 -
Provided during the year -
On disposals -
At 31 March 2015 -
Net book value
At 31 March 2015 -
At 31 March 2014 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
7 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2014 - 14,996 - 14,996
Additions - 630 - 630
Surplus on revaluation - - - -
Disposals - - - -
At 31 March 2015 - 15,626 - 15,626
Depreciation
At 1 April 2014 - 10,273 - 10,273
Charge for the year - 1,071 - 1,071
Surplus on revaluation - - - -
On disposals - - - -
At 31 March 2015 - 11,344 - 11,344
Net book value
At 31 March 2015 - 4,282 - 4,282
At 31 March 2014 - 4,723 - 4,723
Freehold land and buildings: 2015 2014
£ £
Historical cost - -
Cumulative depreciation based on historical cost - -
2015 2014
£ £
Net book value of plant, machinery and vehicles included above held under finance leases and hire purchase contracts - -
8 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2014 - - -
Additions - - -
Disposals - - -
At 31 March 2015 - - -
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
[Company name 1] Ordinary - - -
[Company name 2] Ordinary - - -
[Company name 3] Ordinary - - -
[Company name 4] Ordinary - - -
Other investments 2015 2014
£ £
Listed investments - -
Unlisted investments - -
- -
Listed investments at market value - -
9 Debtors 2015 2014
£ £
Trade debtors 114,860 15,049
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Other debtors - -
114,860 15,049
Amounts due after more than one year included above - -
10 Investments held as current assets 2015 2014
£ £
Listed investments - -
Unlisted investments - -
- -
Listed investments at market value - -
11 Creditors: amounts falling due within one year 2015 2014
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 35,305 14,490
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Corporation tax 18,587 7,498
Other taxes and social security costs 25,298 9,626
Other creditors 11,408 9,220
90,598 40,834
12 Creditors: amounts falling due after one year 2015 2014
£ £
Non-equity preference shares - -
Bank loans - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
- -
13 Loans 2015 2014
£ £
Creditors include:
Amounts falling due for payment after more than five years - -
Secured bank loans - -
14 Provisions for liabilities
Deferred taxation: 2015 2014
£ £
Accelerated capital allowances - -
Tax losses carried forward - -
- -
2015 2014
£ £
At 1 April - -
Deferred tax charge in profit and loss account - -
At 31 March - -
15 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each - 2 1
B Ordinary shares £1 each - - -
2 1
? Preference shares £1 each - - -
2 1
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each - 1
B Ordinary shares £1 each - -
1
? Preference shares £1 each - -
1
16 Share premium 2015
£
At 1 April 2014 -
Shares issued -
Expenses of issue -
At 31 March 2015 -
17 Revaluation reserve 2015
£
At 1 April 2014 -
Arising on revaluation during the year -
At 31 March 2015 -
18 Capital redemption reserve 2015
£
At 1 April 2014 -
Transfer from the profit and loss account -
At 31 March 2015 -
19 Profit and loss account 2015
£
At 1 April 2014 54,857
Prior year adjustments -
At 1 April 2014 54,857
Profit for the year 74,650
Dividends (40,000)
Transfer to capital redemption reserve -
At 31 March 2015 89,507
20 Dividends 2015 2014
£ £
Dividends for which the company became liable during the year:
Dividends paid 40,000 -
Dividends not paid - -
40,000 -
Analysis of dividends by type:
Non-equity dividends (note 4) - -
Equity dividends (note 19) - -
- -
Dividends proposed after the balance sheet date - -
21 Post balance sheet events
22 Capital commitments 2015 2014
£ £
Amounts contracted for but not provided in the accounts - -
23 Pension commitments
24 Other financial commitments 2015 2014
£ £
At the year end the company had annual commitments under non-cancellable operating leases as set out below:
Operating leases which expire:
within one year - -
within two to five years - -
in over five years - -
- -
25 Contingent liabilities
26 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
0
[Loan 1] - - - -
[Loan 2] - - - -
His beneficial interest in the issued share capial of the company was as follows:
[Loan 1] - - - -
[Loan 2] - - - -
31/03/2015
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
#REF!
[Loan 1] - - - -
[Loan 2] - - - -
- - - -
27 Guarantees made by the company on behalf of directors
Description and terms Maximum Amount paid
liability and incurred
£ £
0
[Guarantee 1] - -
[Guarantee 2] - -
His beneficial interest in the issued share capial of the company was as follows:
[Guarantee 1] - -
[Guarantee 2] - -
31/03/2015
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
#REF!
[Guarantee 1] - -
[Guarantee 2] - -
- -
28 Related party transactions 2015 2014
£ £
[Name of related party 1]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 2]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 3]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 4]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 5]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 6]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 7]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 8]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
[Name of related party 9]
[Description of relationship]
[Description of transaction and amounts involved]
[Amount due from (to) the related party] - -
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
29 Ultimate controlling party
ABSOLUTE CAD DESIGNS LTD
Profit and Loss Account
for the year ended 31 March 2015
for the information of the director only
2015 2014
£ £
Sales 323,203 130,055
Cost of sales (183,279) (58,156)
Gross profit 139,924 71,899
Distribution costs - -
Administrative expenses (46,687) (52,731)
Other operating income - -
Operating profit 93,237 19,168
Exceptional items - -
Income from investments - -
Interest receivable - -
Interest payable - -
Profit before tax 93,237 19,168
ABSOLUTE CAD DESIGNS LTD
Schedule to the Profit and Loss Account
for the year ended 31 March 2015
for the information of the director only
2015 2014
£ £
Sales
Sales 323,203 130,055
323,203 130,055
Cost of sales
Purchases - -
Decrease in stocks - -
Subcontractor costs 183,279 58,156
Direct labour - -
Carriage - -
Discounts allowed - -
Commissions payable - -
Other direct costs - -
183,279 58,156
Distribution costs
Distribution costs - -
- -
Administrative expenses
Employee costs:
Wages and salaries 9,458 -
Director's salary 18,000 18,000
Pensions - -
Bonuses - -
Employer's NI 1,386 1,422
Temporary staff and recruitment - -
Staff training and welfare - -
Travel and subsistence - -
Motor expenses 5,066 5,275
Entertaining - -
33,910 24,697
Premises costs:
Rent - -
Rates - -
Service charges - -
Light and heat - -
Cleaning - -
Use of home 1,300 1,300
1,300 1,300
General administrative expenses:
Telephone and fax 1,135 1,384
Postage - 279
Stationery and printing 439 -
Courier services - -
Information and publications - -
Subscriptions - 2,772
Bank charges 385 155
Insurance - -
Equipment expensed - -
Equipment hire - -
Software 6,093 -
Repairs and maintenance 67 -
Depreciation 1,071 1,181
Amortisation of goodwill - -
Company House 14 14
Sundry expenses 673 449
9,877 6,234
Legal and professional costs:
Dividends - 19,000
Accountancy fees 1,600 1,500
Solicitors fees - -
Consultancy fees - -
Management fees - -
Advertising and PR - -
Other legal and professional - -
1,600 20,500
46,687 52,731
Other operating income
Other operating income - -
- -
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