Suresense Technologies Limited - Period Ending 2015-03-31

 
 
 
 
 
 
 
  Suresense Technologies Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2015
 
  Company Registration Number: 07986376

Suresense Technologies Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Suresense Technologies Limited
Abbreviated Balance Sheet
31 March 2015

		Note			2015 £			(As restated) 2014 £
Fixed assets
Intangible fixed assets		2			11,925			17,225
Tangible fixed assets		2			3,067			4,770
					14,992			21,995
Current assets
Stocks					140,122			175,275
Debtors					15,677			42,893
Cash at bank and in hand					9,062			79,918
					164,861			298,086
Creditors: Amounts falling due within one year					(42,200)			(208,401)
Net current assets					122,661			89,685
Net assets					137,653			111,680
Capital and reserves
Called up share capital		3			10,013			10,013
Profit and loss account					127,640			101,667
Shareholders' funds					137,653			111,680

For the year ending 31 March 2015 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 22 July 2015 and signed on its behalf by:

Mr I Hambly
 Director

Company Registration Number: 07986376

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Suresense Technologies Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Intellectual property	20% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold property	20% reducing balance
Plant and machinery	20% reducing balance
Fixtures and fittings	25% striaght line
Equipment	20% reducing balance

Research and development

Research and development expenditure is written off as incurred.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Prior year adjustments

In the previous financial year, 2,400 ordinary unpaid shares were incorrectly disclosed as other creditors. The error was detected during the current financial year and an adjustment has been made to correctly disclose the ordinary shares and other creditors.

Page 2

Suresense Technologies Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		26,500			7,331			33,831
At 31 March 2015		26,500			7,331			33,831
Depreciation
At 1 April 2014		9,275			2,561			11,836
Charge for the year		5,300			1,703			7,003
At 31 March 2015		14,575			4,264			18,839
Net book value
At 31 March 2015		11,925			3,067			14,992
At 31 March 2014		17,225			4,770			21,995

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		7,600			7,600			7,600			7,600
Ordinary B shares of £1 each		13			13			13			13
Ordinary C shares of £1 each		2,400			2,400			2,400			2,400
		10,013			10,013			10,013			10,013

Page 3