Registered Number 06531713

ABSOLUTE ELECTRICAL ISC LTD

Abbreviated Accounts

31 March 2014

ABSOLUTE ELECTRICAL ISC LTD Registered Number 06531713

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 7,404 9,872
7,404 9,872
Current assets
Stocks 1,600 1,500
Debtors 816 1,707
Cash at bank and in hand 1,020 704
3,436 3,911
Creditors: amounts falling due within one year (7,487) (6,402)
Net current assets (liabilities) (4,051) (2,491)
Total assets less current liabilities 3,353 7,381
Creditors: amounts falling due after more than one year (3,155) (5,355)
Total net assets (liabilities) 198 2,026
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 197 2,025
Shareholders' funds 198 2,026
  • For the year ending 31 March 2014 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 22 December 2014

And signed on their behalf by:
Mr R P Turton, Director

ABSOLUTE ELECTRICAL ISC LTD Registered Number 06531713

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the value, net of value added tax and discounts, of goods and services provided to customers during the year.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures Fittings & Equipment 25% reducing balance
Motor Vehicles 25% reducing balance

Valuation information and policy
Stocks
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
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.

Related Party Transactions
Mr R Turton is director and shareholder and is the controlling party by virtue of his ownership of 100% of the issued share capital in the company. He was paid the following dividends in the year.

2014 - £14,100 (2013 - £13,000)

2 Tangible fixed assets
£
Cost
At 1 April 2013 15,069
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 15,069
Depreciation
At 1 April 2013 5,197
Charge for the year 2,468
On disposals -
At 31 March 2014 7,665
Net book values
At 31 March 2014 7,404
At 31 March 2013 9,872
3 Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1 Ordinary shares of £1 each 1 1

4Transactions with directors

Name of director receiving advance or credit: Mr R P Turton
Description of the transaction: Loan
Balance at 1 April 2013: £ 0
Advances or credits made: £ 1,032
Advances or credits repaid: £ 326
Balance at 31 March 2014: £ 706


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