October Systems Limited - Period Ending 2014-06-30
October Systems Limited - Period Ending 2014-06-30
Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
October Systems Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
October Systems Limited
for the Year Ended 30 June 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of October Systems Limited for the year ended 30 June 2014 set out on pages 4 to 10 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of October Systems Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of October Systems Limited and state those matters that we have agreed to state to them, 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 October Systems Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that October Systems Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of October Systems Limited. You consider that October Systems 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 accounts of October Systems 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 accounts.
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Jacobs Allen Limited
Chartered Accountants and Chartered Taxation Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB
23 March 2015
October Systems Limited
(Registration number: 04169585)
Abbreviated Balance Sheet at 30 June 2014
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2014
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2013
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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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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( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
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- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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S P Lee
Director
2
October Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued
Accounting policies |
Basis of preparation
Going concern
The balance sheet shows net current liabilities of £109,146 (2013: £115,376). However, there is a Directors loan of £126,607 (2013: £142,273) within creditors. The Directors has indicated there willingness to continue to support the Company for the forseeable future. The financial statements have therefore been prepared on a going concern basis.
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Freehold property |
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Fixtures and fittings |
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Office equipment |
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Motor vehicles |
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Stock
Deferred tax
Foreign currency
October Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued
Financial instruments
Pensions
Fixed assets |
Tangible assets
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Total
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Cost |
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At 1 July 2013 |
161,400 |
161,400 |
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Additions |
249 |
249 |
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At 30 June 2014 |
161,649 |
161,649 |
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Depreciation |
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At 1 July 2013 |
45,562 |
45,562 |
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Charge for the year |
4,288 |
4,288 |
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At 30 June 2014 |
49,850 |
49,850 |
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Net book value |
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At 30 June 2014 |
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At 30 June 2013 |
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Share capital |
Allotted, called up and fully paid shares
2014 |
2013 |
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No. |
£ |
No. |
£ |
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Control |
The company is controlled by