Fenn Night Vision Ltd - Period Ending 2015-02-28

Registration number: 00812237

Fenn Night Vision Ltd
 
 Unaudited Abbreviated Accounts
 
 for the Year Ended 28 February 2015
 

Fenn Night Vision Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Fenn Night Vision Ltd
(Registration number: 00812237)
Abbreviated Balance Sheet at 28 February 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					158,173			194,985
Current assets
Stocks					266,988			101,487
Debtors					584,764			469,336
Cash at bank and in hand					150,026			209,306
					1,001,778			780,129
Creditors: Amounts falling due within one year					(584,340)			(427,020)
Net current assets					417,438			353,109
Total assets less current liabilities					575,611			548,094
Creditors: Amounts falling due after more than one year					-			(11,920)
Net assets					575,611			536,174
Capital and reserves
Called up share capital		3			8			8
Profit and loss account					575,603			536,166
Shareholders' funds					575,611			536,174

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Fenn Night Vision Ltd
(Registration number: 00812237)
Abbreviated Balance Sheet at 28 February 2015
......... continued

For the year ending 28 February 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 24 November 2015 and signed on its behalf by:

.........................................
C R Light
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Fenn Night Vision Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents net invoiced sales of goods, excluding Value Added Tax.

Depreciation

Tangible fixed assets are recorded at historical cost less accumulated depreciation. Cost comprises the purchase price and any costs directly attributable to bringing the asset to its working condition and location for its intended use. Any subsequent expenditure to maintain the asset's previously assessed standard of performance, is recognised in the profit and loss account as a repair as it is incurred. Depreciation is provided for at the following annual rates in order to write down the value of each asset to its estimated residual value over irts estimated useful life or, if held under a finance lease, over the term of the lease, whichever is the shorter.

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Plant and machinery	15% reducing balance

Research and development

Research and development costs are written off to the profit and loss account in the year that they are incurred.

Stock

Raw materials and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads.

Foreign currency

Monetary assets and liabilities in foreign currencies are tranlated into Sterling at the rates of exchange ruling at the balance sheet date. Non-monetary assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the date of the transaction. Transactions in foreign currencies are transalated into Sterling at the average rate of exchange for the month in which the transaction occurred. Exchange differences are taken into account in arriving at the operating result.

Page 3

Fenn Night Vision Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

Hire purchase and leasing

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates two defined contribution pension schemes. The company contributions to the scheme are charged to the profit and loss account as they accrue.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2014		441,321			441,321
Additions		289			289
At 28 February 2015		441,610			441,610
Depreciation
At 1 March 2014		246,336			246,336
Charge for the year		37,101			37,101
At 28 February 2015		283,437			283,437
Net book value
At 28 February 2015		158,173			158,173
At 28 February 2014		194,985			194,985

Page 4

Fenn Night Vision Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		8			8			8			8

4

Control

The company is controlled by Fenns (Farnborough) Holdings Limited .

Page 5