DOWNEND_ELECTRICS_LTD - Accounts

DOWNEND ELECTRICS LIMITED - Company Information

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Company Registration No. 01085404 (England and Wales)

DOWNEND ELECTRICS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

DOWNEND ELECTRICS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DOWNEND ELECTRICS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

83,017

81,833

Current assets

Stocks

1,000

1,100

Debtors

322,361

258,845

Cash at bank and in hand

57,101

81,820

380,462

341,765

Creditors: amounts falling due within one year

(123,751)

(137,440)

Net current assets

256,711

204,325

Total assets less current liabilities

339,728

286,158

Provisions for liabilities

(1,638)

(1,104)

338,090

285,054

Capital and reserves

Called up share capital

4,000

Profit and loss account

334,090

281,054

Shareholders' funds

338,090

285,054

For the financial year ended 30 June 2015 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 and authorised for issue on 1 October 2015

Mr MR Andrews

Ms TM Kembery

Director

Company Registration No. 01085404

DOWNEND ELECTRICS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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 other than freehold land 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:

Land and buildings Freehold

Fixtures, fittings & equipment

20% - 25% reducing balance

Motor vehicles

25% reducing balance

1.5

Stock

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

1.6

Long term contracts

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 as payments on account.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

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.

DOWNEND ELECTRICS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2014

125,095

Additions

5,500

Disposals

(10,780)

At 30 June 2015

119,815

Depreciation

At 1 July 2014

43,262

On disposals

(9,972)

Charge for the year

3,508

At 30 June 2015

36,798

Net book value

At 30 June 2015

83,017

At 30 June 2014

81,833

Share capital

2015

2014

Allotted, called up and fully paid

4,000 Ordinary of £1 each

4,000