Abbreviated Company Accounts - INSTRUMENT DESIGN TECHNOLOGY LIMITED
Abbreviated Company Accounts - INSTRUMENT DESIGN TECHNOLOGY LIMITED
Registered Number 03950882
INSTRUMENT DESIGN TECHNOLOGY LIMITED
Abbreviated Accounts
30 June 2014
INSTRUMENT DESIGN TECHNOLOGY LIMITED Registered Number 03950882
Abbreviated Balance Sheet as at 30 June 2014
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
INSTRUMENT DESIGN TECHNOLOGY LIMITED Registered Number 03950882
Notes to the Abbreviated Accounts for the period ended 30 June 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant & machinery - 25% RB
Motor vehicles - 25% RB
Fixtures & fittings - 25% RB
Computer equipment - 33% RB
Other accounting policies
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
NOTES TO THE ACCOUNTS:
Controlling Party
There is no ultimate controlling party due to the equal shareholdings of P K Murray and P Brookes.
£ | |
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Cost | |
At 1 July 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2014 |
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Depreciation | |
At 1 July 2013 |
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Charge for the year |
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On disposals |
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At 30 June 2014 |
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Net book values | |
At 30 June 2014 | 68,690 |
At 30 June 2013 | 82,316 |