INFORMATION_ENGINEERING_T - Accounts

INFORMATION ENGINEERING TECHNOLOGY LIMITED - Company Information

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Company Registration No. 02788167 (England and Wales)

INFORMATION ENGINEERING TECHNOLOGY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

INFORMATION ENGINEERING TECHNOLOGY LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

INFORMATION ENGINEERING TECHNOLOGY LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INFORMATION ENGINEERING TECHNOLOGY LIMITED FOR THE YEAR ENDED 31 DECEMBER 2014

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Information Engineering Technology Limited for the year ended 31 December 2014 set out on pages 3 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Information Engineering Technology Limited, as a body, in accordance with the terms of our engagement letter dated 11 February 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Information Engineering Technology Limited and state those matters that we have agreed to state to the Board of Directors of Information Engineering Technology Limited, 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 Information Engineering Technology Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Information Engineering Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Information Engineering Technology Limited. You consider that Information Engineering Technology 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 financial statements of Information Engineering Technology 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 financial statements.

Pearson May

28 April 2015

Chartered Accountants

37 Great Pulteney Street

Bath

BA2 4DA

INFORMATION ENGINEERING TECHNOLOGY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 2 -

2014

2013

Notes

Fixed assets

Tangible assets

3,707

5,296

Investments

100

3,807

5,396

Current assets

Debtors

342,833

509,654

Cash at bank and in hand

3,983,918

3,200,106

4,326,751

3,709,760

Creditors: amounts falling due within one year

(1,545,787)

(1,292,297)

Net current assets

2,780,964

2,417,463

Total assets less current liabilities

2,784,771

2,422,859

Provisions for liabilities

(87)

2,784,771

2,422,772

Capital and reserves

Called up share capital

Profit and loss account

2,784,769

2,422,770

Shareholders' funds

2,784,771

2,422,772

For the financial year ended 31 December 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 and authorised for issue on 23 April 2015

D D Panahy

E J Haworth

Director

Company Registration No. 02788167

INFORMATION ENGINEERING TECHNOLOGY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the invoiced amounts of goods and services provided net of value added tax and exchange rate differences with the exception of maintenance contracts which are recognised rateably over the period of the agreement.

1.4

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:

Computer equipment

33% straight line

Fixtures, fittings & equipment

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

INFORMATION ENGINEERING TECHNOLOGY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2014

28,869

100

28,969

Additions

1,886

Disposals

(1,344)

At 31 December 2014

29,411

100

29,511

Depreciation

At 1 January 2014

23,573

On disposals

(1,344)

Charge for the year

3,475

At 31 December 2014

25,704

Net book value

At 31 December 2014

3,707

100

3,807

At 31 December 2013

5,296

100

5,396

Share capital

2014

2013

Allotted, called up and fully paid

2 ordinary shares of £1 each