Abbreviated Company Accounts - GENERATOR SYSTEMS LIMITED

GENERATOR SYSTEMS LIMITED - Company Information

Registered Number 03391662

GENERATOR SYSTEMS LIMITED

Abbreviated Accounts

30 June 2014

GENERATOR SYSTEMS LIMITED Registered Number 03391662

Abbreviated Balance Sheet as at 30 June 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	1,000,000	1,000,000
Tangible assets	3	24,240	29,011
		1,024,240	1,029,011
Current assets
Debtors		899,788	1,063,456
Cash at bank and in hand		-	75,195
		899,788	1,138,651
Prepayments and accrued income		984,147	219,707
Creditors: amounts falling due within one year		(1,056,550)	(611,392)
Net current assets (liabilities)		827,385	746,966
Total assets less current liabilities		1,851,625	1,775,977
Accruals and deferred income		(106,109)	(257,388)
Total net assets (liabilities)		1,745,516	1,518,589
Capital and reserves
Called up share capital		270	270
Profit and loss account		1,745,246	1,518,319
Shareholders' funds		1,745,516	1,518,589

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 1 August 2014

And signed on their behalf by:
Gary Holmes, Director

GENERATOR SYSTEMS LIMITED Registered Number 03391662

Notes to the Abbreviated Accounts for the period ended 30 June 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods and services, excluding VAT

Tangible assets depreciation policy
Depreciation is provided at 25% and 33% in order to write off each asset over its estimated useful life.

2Intangible fixed assets

	£
Cost
At 1 July 2013	1,000,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2014	1,000,000
Amortisation
At 1 July 2013	-
Charge for the year	-
On disposals	-
At 30 June 2014	-
Net book values
At 30 June 2014	1,000,000
At 30 June 2013	1,000,000

3Tangible fixed assets

	£
Cost
At 1 July 2013	110,826
Additions	10,692
Disposals	(23,740)
Revaluations	-
Transfers	-
At 30 June 2014	97,778
Depreciation
At 1 July 2013	81,815
Charge for the year	15,463
On disposals	(23,740)
At 30 June 2014	73,538
Net book values
At 30 June 2014	24,240
At 30 June 2013	29,011