ABSOLUTE ACCOUNTING SOFTWARE LTD


ABSOLUTE ACCOUNTING SOFTWARE LTD

Company Registration Number:
07122547 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2020

Period of accounts

Start date: 1 January 2020

End date: 31 December 2020

ABSOLUTE ACCOUNTING SOFTWARE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Additional notes
Balance sheet notes

ABSOLUTE ACCOUNTING SOFTWARE LTD

Balance sheet

As at 31 December 2020

Notes 2020 2019


£

£
Fixed assets
Tangible assets: 3 88,832 131,095
Total fixed assets: 88,832 131,095
Current assets
Debtors: 4 6,644 6,743
Cash at bank and in hand: 660,211 529,614
Total current assets: 666,855 536,357
Creditors: amounts falling due within one year: 5 ( 158,250 ) ( 136,984 )
Net current assets (liabilities): 508,605 399,373
Total assets less current liabilities: 597,437 530,468
Total net assets (liabilities): 597,437 530,468
Capital and reserves
Called up share capital: 10,000 10,000
Profit and loss account: 587,437 520,468
Total Shareholders' funds: 597,437 530,468

The notes form part of these financial statements

ABSOLUTE ACCOUNTING SOFTWARE LTD

Balance sheet statements

For the year ending 31 December 2020 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 13 August 2021
and signed on behalf of the board by:

Name: Timothy James Good
Status: Director

The notes form part of these financial statements

ABSOLUTE ACCOUNTING SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.Equipment - 25% reducing balanceMotor cars - 35% reducing balance

ABSOLUTE ACCOUNTING SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

  • 2. Employees

    2020 2019
    Average number of employees during the period 7 6

ABSOLUTE ACCOUNTING SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2020 11,079 246,765 257,844
Additions 3,069 3,069
Disposals
Revaluations
Transfers
At 31 December 2020 14,148 246,765 260,913
Depreciation
At 1 January 2020 2,995 123,754 126,749
Charge for year 2,278 43,054 45,332
On disposals
Other adjustments
At 31 December 2020 5,273 166,808 172,081
Net book value
At 31 December 2020 8,875 79,957 88,832
At 31 December 2019 8,084 123,011 131,095

ABSOLUTE ACCOUNTING SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Debtors

2020 2019
£ £
Trade debtors 3,447 2,406
Prepayments and accrued income 3,197 4,337
Total 6,644 6,743

ABSOLUTE ACCOUNTING SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

5. Creditors: amounts falling due within one year note

2020 2019
£ £
Trade creditors 33,853 15,819
Taxation and social security 80,674 68,456
Accruals and deferred income 43,723 51,634
Other creditors 1,075
Total 158,250 136,984