Absolute Design and Build Ltd - Period Ending 2016-04-30

Registration number: SC475421

Absolute Design and Build Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

Absolute Design and Build Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Absolute Design and Build Ltd
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Absolute Design and Build Ltd for the year ended 30 April 2016 set out on pages 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 Absolute Design and Build Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Absolute Design and Build Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Design and Build Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Absolute Design and Build Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Absolute Design and Build Ltd. You consider that Absolute Design and Build Ltd 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 accounts of Absolute Design and Build Ltd. 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.

......................................

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

27 September 2016

Page 1

Absolute Design and Build Ltd
(Registration number: SC475421)
Abbreviated Balance Sheet at 30 April 2016

		Note			30 April 2016 £			30 April 2015 £
Fixed assets
Tangible fixed assets					33,682			598
Current assets
Debtors					31,197			26,582
Cash at bank and in hand					4,768			49,012
					35,965			75,594
Creditors: Amounts falling due within one year					(38,484)			(35,471)
Net current (liabilities)/assets					(2,519)			40,123
Total assets less current liabilities					31,163			40,721
Creditors: Amounts falling due after more than one year					(23,345)			-
Provisions for liabilities					(6,736)			(119)
Net assets					1,082			40,602
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					982			40,502
Shareholders' funds					1,082			40,602

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 27 September 2016 and signed on its behalf by:

.........................................
Mr Adam McIntosh
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Absolute Design and Build Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Absolute Design and Build Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		703			703
Additions		44,232			44,232
At 30 April 2016		44,935			44,935
Depreciation
At 1 May 2015		105			105
Charge for the year		11,148			11,148
At 30 April 2016		11,253			11,253
Net book value
At 30 April 2016		33,682			33,682
At 30 April 2015		598			598

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		30 April 2016 £			30 April 2015 £
Amounts falling due within one year		14,744			-
Amounts falling due after more than one year		23,345			-
Total secured creditors		38,089			-

4	Share capital

Allotted, called up and fully paid shares

	30 April 2016						30 April 2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4

Absolute Design and Build Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

5	Related party transactions

Directors' advances and credits

	Year ended 30 April 2016 Advance/ Credit £	Year ended 30 April 2016 Repaid £	16 April 2014 to 30 April 2015 Advance/ Credit £	16 April 2014 to 30 April 2015 Repaid £
Mr Adam McIntosh
Directors loan	7,361	-	-	-
Mr John McGinley Adams
directors loan	8,504	-	-	-

Page 5