Company Registration No. 03983479 (England and Wales)
OBJECTIVEITSERVICES.COM LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
OBJECTIVEITSERVICES.COM LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
OBJECTIVEITSERVICES.COM LTD
ABBREVIATED BALANCE SHEET - UNAUDITED
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,118
3,918
Current assets
Debtors
133,323
82,140
Cash at bank and in hand
23
13
133,346
82,153
Creditors: amounts falling due within one year
3
(37,648)
(34,760)
Net current assets
95,698
47,393
Total assets less current liabilities
98,816
51,311
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
98,814
51,309
Shareholders' funds
98,816
51,311
For the financial year ended 31 March 2014 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 4 February 2015
M S A Lis Esq
Director
Company Registration No. 03983479
OBJECTIVEITSERVICES.COM LTD
NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED
FOR THE YEAR ENDED 31 MARCH 2014
- 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 April 2008).
1.2
Turnover
Turnover represents amounts receivable for the provision of IT services net of trade discounts. Turnover and profit before taxation are attributable to the one principal activity of the company, all of which arises in the United Kingdom.
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:
Property improvements
2% per annum on the straight line method
Computer equipment
33 1/3% per annum on the straight line method and 25% per annum on the reducing balance method
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
23,873
Additions
482
At 31 March 2014
24,355
Depreciation
At 1 April 2013
19,955
Charge for the year
1,282
At 31 March 2014
21,237
Net book value
At 31 March 2014
3,118
At 31 March 2013
3,918
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £780 (2013 - £3,334).
OBJECTIVEITSERVICES.COM LTD
NOTES TO THE ABBREVIATED ACCOUNTS - UNAUDITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2
5
Related party relationships and transactions
Advances and credits to directors
The following advances and credits were made to/from the directors during the year:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
M S A Lis Esq
-
39,310
81,254
-
57,220
63,344
Mrs A L Lis
-
39,309
81,254
-
57,219
63,344
78,619
162,508
-
114,439
126,688
This is an interest free loan to the directors which is repayable on demand.
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