Registered Number 06531713

ABSOLUTE ELECTRICAL ISC LTD

Abbreviated Accounts

31 March 2015

ABSOLUTE ELECTRICAL ISC LTD Registered Number 06531713

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 5,552 7,404
5,552 7,404
Current assets
Stocks 2,000 1,600
Debtors - 816
Cash at bank and in hand 2,640 1,020
4,640 3,436
Creditors: amounts falling due within one year (8,737) (7,487)
Net current assets (liabilities) (4,097) (4,051)
Total assets less current liabilities 1,455 3,353
Creditors: amounts falling due after more than one year (955) (3,155)
Total net assets (liabilities) 500 198
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 499 197
Shareholders' funds 500 198
  • For the year ending 31 March 2015 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 23 December 2015

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 2015

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
Director and shareholder
Mr R Turton 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 - £16,300 (2014 - £14,100)

2 Tangible fixed assets
£
Cost
At 1 April 2014 15,069
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 15,069
Depreciation
At 1 April 2014 7,665
Charge for the year 1,852
On disposals -
At 31 March 2015 9,517
Net book values
At 31 March 2015 5,552
At 31 March 2014 7,404
3 Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
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: Loans to Directors
Balance at 1 April 2014: £ 706
Advances or credits made: -
Advances or credits repaid: £ 706
Balance at 31 March 2015: £ 0


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