IT Developers Limited - Period Ending 2015-03-31

Registration number: 04669943

IT Developers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Stubbs Parkin Limited
Chartered Accountants
55 Hoghton Street
Southport
Merseyside
PR9 0PG

IT Developers Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

IT Developers Limited
(Registration number: 04669943)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £						2014 £
	£			£			£			£
Fixed assets
Tangible fixed assets								16,495						16,657
Current assets
Debtors					63,828						49,827
Cash at bank and in hand					35,129						36,628
					98,957						86,455
Creditors: Amounts falling due within one year					(53,787)						(50,861)
Net current assets								45,170						35,594
Net assets								61,665						52,251
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					61,565						52,151
Shareholders' funds								61,665						52,251

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 director acknowledges his 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 director on 23 December 2015

.........................................
Mr I J Truman
Director

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

IT Developers Limited
Notes to the Abbreviated Accounts for the 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

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
Goodwill	10% 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
Plant & equipment	15% reducing balance
Fixtures & fittings	15% reducing balance

2	Fixed assets

Page 2

IT Developers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		50,000			56,223			106,223
Additions		-			2,750			2,750
At 31 March 2015		50,000			58,973			108,973
Depreciation
At 1 April 2014		50,000			39,566			89,566
Charge for the year		-			2,912			2,912
At 31 March 2015		50,000			42,478			92,478
Net book value
At 31 March 2015		-			16,495			16,495
At 31 March 2014		-			16,657			16,657

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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