Registered Number 02586898
ACCEL POWER SUPPLIES LIMITED
Abbreviated Accounts
28 February 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|
||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
Turnover policy
Tangible assets depreciation policy
Land and buildings Leasehold Straight line over the term of the lease
Plant and machinery 25% Reducing balance
Fixtures, fittings & equipment 25% Reducing balance
Computer equipment 33.33% Straight line
Other accounting policies
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
Stock
Stock is valued at the lower of cost and net realisable value.
Revenue recognition
Revenue is recognised as completed orders are shipped to customers.
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
£ | |
---|---|
Cost | |
At 1 March 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 28 February 2015 |
|
Depreciation | |
At 1 March 2014 |
|
Charge for the year |
|
On disposals |
|
At 28 February 2015 |
|
Net book values | |
At 28 February 2015 | 1,355 |
At 28 February 2014 | 1,793 |
4 Transactions with directors
Name of director receiving advance or credit: |
|
|
---|---|---|
Description of the transaction: |
|
|
Balance at 1 March 2014: | £ |
|
Advances or credits made: |
|
|
Advances or credits repaid: |
|
|
Balance at 28 February 2015: | £ |
Name of director receiving advance or credit: |
|
|
---|---|---|
Description of the transaction: |
|
|
Balance at 1 March 2014: | £ |
|
Advances or credits made: |
|
|
Advances or credits repaid: |
|
|
Balance at 28 February 2015: | £ |