Company Registration No. 03226474 (England and Wales)
EFFECTECH LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
EFFECTECH LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 6
EFFECTECH LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EFFECTECH LIMITED FOR THE YEAR ENDED 31 AUGUST 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 6 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Effectech Limited for the year ended 31 August 2015 set out on pages 3 to 13 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Effectech Limited, as a body, in accordance with the terms of our engagement letter dated 11 March 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Effectech Limited and state those matters that we have agreed to state to the Board of Directors of Effectech Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Effectech Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Effectech Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Effectech Limited. You consider that Effectech Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Effectech Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Clear & Lane Limited
Chartered Accountants
340 Melton Road
Leicester
LE4 7SL
15 March 2016
EFFECTECH LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
458,069
319,072
Investments
2
31,172
31,172
489,241
350,244
Current assets
Stocks
321,885
194,242
Debtors
817,997
863,680
Cash at bank and in hand
560,049
719,357
1,699,931
1,777,279
Creditors: amounts falling due within one year
(1,130,021)
(1,779,927)
Net current assets/(liabilities)
569,910
(2,648)
Total assets less current liabilities
1,059,151
347,596
Provisions for liabilities
(57,500)
(39,211)
Accruals and deferred income
(14,550)
-
987,101
308,385
Capital and reserves
Called up share capital
3
77
77
Share premium account
9,995
9,995
Other reserves
24
24
Profit and loss account
977,005
298,289
Shareholders' funds
987,101
308,385
EFFECTECH LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2015
31 August 2015
- 3 -
For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 14 March 2016
Dr G D Squire
Director
Company Registration No. 03226474
EFFECTECH LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 4 -
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 April 2008).
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 trade discounts.
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:
Leasehold improvements
Over 50 years
Laboratory equipment
Over 5 years
Fixtures, fittings & equipment
Over 4 years
Motor vehicles
25% of net book value
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
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.
1.7
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
EFFECTECH LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
1
Accounting policies
(Continued)
- 5 -
1.8
Employer-Financed Retirement Benefit Schemes (EFRBS)
The company has established trusts for the benefit of employees and persons connected with them. Monies held in these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to provide both retirement and other employee benefits.
Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals.
Where monies held in a trust are determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.
Where monies held in a trust are determined by the company on the basis of employees' past services to the business and are payable after completion of the employment, such monies are charged to the profit and loss account in the period during which services are rendered by employees.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 September 2014
1,037,753
31,172
1,068,925
Additions
255,796
-
255,796
Disposals
(4,750)
-
(4,750)
At 31 August 2015
1,288,799
31,172
1,319,971
Depreciation
At 1 September 2014
718,681
-
718,681
On disposals
(4,750)
-
(4,750)
Charge for the year
116,799
-
116,799
At 31 August 2015
830,730
-
830,730
Net book value
At 31 August 2015
458,069
31,172
489,241
At 31 August 2014
319,072
31,172
350,244
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Effectech Gases PVT Limited
India
Ordinary
50.00
EFFECTECH LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
2
Fixed assets
(Continued)
- 6 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Effectech Gases PVT Limited
Specialist support to the gas industry
295,872
58,862
Accounts for Effectech Gases PVT Limited are made up to 31 March each year.
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
72 Ordinary shares class "A" of £1 each
72
72
5 Ordinary shares class "B" of £1 each
5
5
77
77
2015-08-31
2014-09-01
false
true
true
true
true
true
Effectech Ltd.html
2016-03-16
03226474
2014-09-01
2015-08-31
03226474
uk-bus:EntityAccountantsOrAuditors
2014-09-01
2015-08-31
03226474
uk-bus:EntityAccountantsOrAuditors
2015-08-31
03226474
2015-08-31
03226474
2014-08-31
03226474
2014-08-31
03226474
uk-bus:Director1
2014-09-01
2015-08-31
03226474
uk-gaap:LandBuildings
uk-gaap:LeasedTangibleFixedAssets
2014-09-01
2015-08-31
03226474
uk-gaap:PlantMachinery
2014-09-01
2015-08-31
03226474
uk-gaap:FixturesFittingsToolsEquipment
2014-09-01
2015-08-31
03226474
uk-gaap:MotorVehicles
2014-09-01
2015-08-31
03226474
uk-gaap:Subsidiary1
2014-09-01
2015-08-31
03226474
uk-gaap:Subsidiary1
2015-08-31
03226474
uk-bus:OrdinaryShareClass1
2014-09-01
2015-08-31
03226474
uk-bus:OrdinaryShareClass2
2014-09-01
2015-08-31
03226474
uk-bus:OrdinaryShareClass1
2015-08-31
03226474
uk-bus:OrdinaryShareClass2
2015-08-31
03226474
uk-bus:OrdinaryShareClass1
2014-08-31
03226474
uk-bus:OrdinaryShareClass2
2014-08-31
xbrli:pure
xbrli:shares
iso4217:GBP