Abbreviated Company Accounts - BASCOM LIMITED

02787878 BASCOM LIMITED 2014-09-30 false 2013-10-01 2014-09-30 true 02787878 2013-10-01 2014-09-30 02787878 2014-09-30 02787878 2013-09-30 02787878 uk-gaap-cd-bus:Director1 2013-10-01 2014-09-30 02787878 uk-gaap-cd-bus:Director2 2013-10-01 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-01 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-30 iso4217:GBP shares

Registered Number 02787878

BASCOM LIMITED

Abbreviated Accounts

30 September 2014

BASCOM LIMITED Registered Number 02787878

Abbreviated Balance Sheet as at 30 September 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	176,326	206,151
		176,326	206,151
Current assets
Stocks		19,396	19,928
Debtors		459,695	417,949
Cash at bank and in hand		273,233	80,152
		752,324	518,029
Creditors: amounts falling due within one year		(427,475)	(457,510)
Net current assets (liabilities)		324,849	60,519
Total assets less current liabilities		501,175	266,670
Creditors: amounts falling due after more than one year		(4,640)	(17,768)
Provisions for liabilities		(45,000)	-
Total net assets (liabilities)		451,535	248,902
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		451,435	248,802
Shareholders' funds		451,535	248,902

For the year ending 30 September 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 30 June 2015

And signed on their behalf by:
P W Brown, Director

BASCOM LIMITED Registered Number 02787878

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

1Accounting Policies

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Short Leasehold Improvements - straight line over the remaining term of the lease
Plant & Machinery - 10% per annum straight line
Motor Vehicles - 25% per annum reducing balance
Equipment - 25% per annum reducing balance & 33.3% per annum straight line

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Finance Lease Agreements

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension Costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets

	£
Cost
At 1 October 2013	584,300
Additions	20,256
Disposals	(8,311)
Revaluations	-
Transfers	-
At 30 September 2014	596,245
Depreciation
At 1 October 2013	378,149
Charge for the year	50,015
On disposals	(8,245)
At 30 September 2014	419,919
Net book values
At 30 September 2014	176,326
At 30 September 2013	206,151

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100