For the year ended 31 July 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06962525
Absolute Climate Ltd
For the year ended 31 July 2016
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
|
Absolute Climate Ltd
For the year ended 31 July 2016
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
|
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the
|
estimated expected useful economic life of the goodwill of
10
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Motor Vehicles
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and
|
rewards of ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets
|
and depreciated over the shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
2 of 3
Notes to the Abbreviated Financial Statements
|
Absolute Climate Ltd
For the year ended 31 July 2016
2
Intangible fixed assets
|
7,500
7,500
4,500
750
Charge for year
5,250
2,250
3,000
44,103
551
44,654
26,665
7,267
Charge for year
33,932
10,722
17,438
Allotted called up and fully paid
|
2016
2015
10
Ordinary shares of £
1
.
00
each
|
10
10
10
10
3 of 3