MA Systems and Control Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02645016 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2014

for

MA Systems and Control Limited

Trading as

MA Systems and Control

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTOR:

D Majoe

REGISTERED OFFICE:

10 Kingfisher Road

Eastleigh

Hampshire

SO50 9LH

REGISTERED NUMBER:

02645016 (England and Wales)

ACCOUNTANTS:

Carbon Accountants Limited

Chartered Certified Accountants

66 Botley Road

Park Gate

Southampton

Hampshire

SO31 1BB

FIXED ASSETS

Intangible assets

2

-

712

Tangible assets

3

101,803

105,161

101,803

105,873

CURRENT ASSETS

Debtors

5,479

6,024

Cash at bank

23,729

89,275

29,208

95,299

CREDITORS

Amounts falling due within one year

94,301

158,140

NET CURRENT LIABILITIES

(65,093

)

(62,841

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,710

43,032

CAPITAL AND RESERVES

Called up share capital

4

8

8

Profit and loss account

36,702

43,024

SHAREHOLDERS' FUNDS

36,710

43,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 July 2015 and were signed by:

D Majoe - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and services and EU grants receivable accrued of the

period of the project term, excluding value added tax.

Amortisation of intangible fixed assets

Patents and licences are being amortised over a period of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures & equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

7,178

AMORTISATION

At 1 October 2013

6,466

Amortisation for year

712

At 30 September 2014

7,178

NET BOOK VALUE

At 30 September 2014

-

At 30 September 2013

712

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

193,207

DEPRECIATION

At 1 October 2013

88,046

Charge for year

3,358

At 30 September 2014

91,404

NET BOOK VALUE

At 30 September 2014

101,803

At 30 September 2013

105,161

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

50,000

Ordinary

£1

8

8

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2014

and 30 September 2013:

30.9.14

30.9.13

£

£

D Majoe

Balance outstanding at start of year

(32,295

)

(21,676

)

Amounts advanced

17,417

(7,000

)

Amounts repaid

(19,000

)

(3,619

)

Balance outstanding at end of year

(33,878

)

(32,295

)

No interest was charged on the above loans.

6.	DEFERRED INCOME

Deferred income of £45,750 represents EU grants received in advance for research and development

expenditure which have not yet been incurred as at the balance sheet date. This balance is included in

other creditors due within one year. During the year the company further funding of £7,221 Euros for

Research and Development projects.

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to five) 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 MA Systems and Control Limited for the year ended 30 September 2014

which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of MA Systems and Control Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MA Systems and Control Limited and state those matters that we have agreed to state to the director of MA Systems and Control Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that MA Systems and Control 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 loss of MA Systems and Control Limited. You consider that MA Systems and Control 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 MA Systems and

Control 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.

Carbon Accountants Limited

Chartered Certified Accountants

66 Botley Road

Park Gate

Southampton

Hampshire

SO31 1BB

31 July 2015