Northern Electronic Technology Limited,Ltd - AccountsLtd - Accounts

Northern Electronic Technology Limited,Ltd - AccountsLtd - Accounts

NORTHERN ELECTRONIC TECHNOLOGY LIMITED - Company Information

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2018-04-01 01898479 2019-03-31 01898479 2018-04-01 2019-03-31 01898479 2018-03-31 01898479 2017-04-01 2018-03-31 01898479 uk-core:WithinOneYear 2018-03-31 01898479 uk-core:WithinOneYear 2019-03-31 01898479 uk-core:ShareCapital 2019-03-31 01898479 uk-core:ShareCapital 2018-03-31 01898479 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 01898479 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 01898479 uk-bus:Director1 2018-04-01 2019-03-31 01898479 uk-core:PlantMachinery 2018-04-01 2019-03-31 01898479 uk-core:MotorCars 2018-04-01 2019-03-31 iso4217:GBP xbrli:pure 01898479 uk-bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 01898479 uk-bus:FRS102 2018-04-01 2019-03-31 01898479 uk-bus:FullAccounts 2018-04-01 2019-03-31 01898479 uk-bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31
Northern Electronic Technology Limited
Registered Number:01898479
For the year ended 31 March 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2019
Northern Electronic Technology Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 March 2019
Northern Electronic Technology Limited
Statement of Financial Position
Registered Number :
01898479
£
£
2018
2019
Notes
Fixed assets
Property, plant and equipment
-
36
2
-
36
Current assets
Inventories
1,665
1,458
Trade and other receivables
887
957
3
14,172
Cash and cash equivalents
6,320
8,735
16,724
Trade and other payables: amounts falling due within
one year
(5,762)
(5,727)
4
10,962
3,008
Net current assets
Total assets less current liabilities
3,008
10,998
3,008
Net assets
10,998
Capital and reserves
Called up share capital
2
2
Retained earnings
3,006
10,996
3,008
10,998
Shareholders' funds
For the year ended 31 March 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Section 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
For the year ended 31 March 2019
Northern Electronic Technology Limited
Statement of Financial Position Continued
E.H. Croucher Director
These financial statements were approved and authorised for issue by the Board on 26 November 2019 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2019
Northern Electronic Technology Limited
Notes to the Financial Statements
Statutory Information
Northern Electronic Technology Limited is a private limited company, limited by shares, domiciled in
England and Wales, registration number 01898479.
Registered address:
4 Sea View Park
Whitburn
Sunderland
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the
historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and equipment
25% per annum on cost
25% per annum on cost
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2019
Northern Electronic Technology Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Plant and
equipment
£
Cost or
valuation
At 01 April 2018
65,835
At 31 March 2019
65,835
Provision for depreciation and impairment
At 01 April 2018
65,799
Charge for year
36
At 31 March 2019
65,835
At 31 March 2019
Net book value
-
At 31 March 2018
36
3. Trade and other receivables
2018
2019
£
£
Trade debtors
397
331
Other debtors
560
556
887
957
4. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Other creditors
5,727
5,762
5. Average number of persons employed
During the year the average number of employees was 0
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