Company Registration No. 07768817 (England and Wales)
ELITE ELECTRICAL SERVICES AND SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ELITE ELECTRICAL SERVICES AND SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ELITE ELECTRICAL SERVICES AND SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,445
13,830
Current assets
Debtors
2,557
612
Cash at bank and in hand
12,467
34,054
15,024
34,666
Creditors: amounts falling due within one year
(29,728)
(40,947)
Net current liabilities
(14,704)
(6,281)
Total assets less current liabilities
2,741
7,549
Creditors: amounts falling due after more than one year
(4,666)
-
(1,925)
7,549
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(2,025)
7,449
Shareholders' funds
(1,925)
7,549
For the financial year ended 31 March 2016 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 27 July 2016
D C McNaughton
Director
Company Registration No. 07768817
ELITE ELECTRICAL SERVICES AND SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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).
Although the company had net liabilities of £1,925 at the balance sheet date, these accounts have been prepared on a going concern basis since the director continues to provide financial support as required to the company.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Plant and machinery
15% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
21,729
Additions
17,215
Disposals
(13,938)
At 31 March 2016
25,006
Depreciation
At 1 April 2015
7,898
On disposals
(5,339)
Charge for the period
5,002
At 31 March 2016
7,561
Net book value
At 31 March 2016
17,445
At 31 March 2015
13,830
ELITE ELECTRICAL SERVICES AND SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100