Company Registration No. 03179649 (England and Wales)
ELECTRATEST NORTHERN LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
ELECTRATEST NORTHERN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
ELECTRATEST NORTHERN LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,885
24,308
Current assets
Debtors
26,690
43,361
Cash at bank and in hand
10
10
26,700
43,371
Creditors: amounts falling due within one year
3
(24,006)
(33,196)
Net current assets
2,694
10,175
Total assets less current liabilities
20,579
34,483
Creditors: amounts falling due after more than one year
4
(5,542)
(9,042)
Provisions for liabilities
(2,338)
(3,186)
12,699
22,255
Capital and reserves
Called up share capital
5
900
900
Profit and loss account
11,799
21,355
Shareholders' funds
12,699
22,255
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 September 2016
S Robson
Director
Company Registration No. 03179649
ELECTRATEST NORTHERN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and its operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.
The directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and its operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and management fees.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% straight line
Plant and equipment
25% reducing balance
Office equipment
25% reducing balance and 33% straight line
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Revenue recognition
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in work in progress and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.7
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.
ELECTRATEST NORTHERN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015 & at 31 December 2015
64,074
Depreciation
At 1 January 2015
39,766
Charge for the year
6,423
At 31 December 2015
46,189
Net book value
At 31 December 2015
17,885
At 31 December 2014
24,308
3
Creditors
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £3,500).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £9,042).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
900 Ordinary Shares of £1 each
900
900
6
Related party relationships and transactions
ELECTRATEST NORTHERN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
6
Related party relationships and transactions
(Continued)
- 4 -
Loans to/(from) directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
S Robson -
9,555
31,430
-
31,300
9,685
9,555
31,430
-
31,300
9,685