ACCELERATOR_SOLUTIONS_LTD - Accounts

ACCELERATOR SOLUTIONS LIMITED - Company Information

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Company Registration No. 04123923 (England and Wales)

ACCELERATOR SOLUTIONS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

ACCELERATOR SOLUTIONS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ACCELERATOR SOLUTIONS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

4,879

7,278

Current assets

Stocks

15,390

958

Debtors

189,384

291,919

Cash at bank and in hand

356,078

132,484

560,852

425,361

Creditors: amounts falling due within one year

(264,575)

(252,764)

Net current assets

296,277

172,597

Total assets less current liabilities

301,156

179,875

Provisions for liabilities

(774)

(893)

300,382

178,982

Capital and reserves

Called up share capital

100

Profit and loss account

300,282

178,882

Shareholders' funds

300,382

178,982

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 for issue on 3 July 2015

Mr H Hopkins

Director

Company Registration No. 04123923

ACCELERATOR SOLUTIONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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 amounts receivable for goods and services net of VAT and trade discounts.

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:

Fixtures, fittings & equipment

10% straight line

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Revenue recognition

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors.

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.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

ACCELERATOR SOLUTIONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

40,530

Additions

1,968

Disposals

(152)

At 31 December 2014

42,346

Depreciation

At 1 January 2014

33,251

On disposals

(19)

Charge for the year

4,235

At 31 December 2014

37,467

Net book value

At 31 December 2014

4,879

At 31 December 2013

7,278

Share capital

2014

2013

Allotted, called up and fully paid

10,000 ordinary shares of 1p each

100

During the year, the share capital of 100 ordinary £1 shares, was subdivided into 10,000 ordinary 1p shares.