Fuel Cell Systems Limited - Period Ending 2015-10-31

Registration number: 07411241

Fuel Cell Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Fuel Cell Systems Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Fuel Cell Systems Limited
(Registration number: 07411241)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Current assets
Stocks					117,270			94,480
Debtors					104,558			119,080
Cash at bank and in hand					39,927			51,765
					261,755			265,325
Creditors: Amounts falling due within one year					(188,730)			(259,090)
Total assets less current liabilities					73,025			6,235
Capital and reserves
Called up share capital		2			1			1
Profit and loss account					73,024			6,234
Shareholders' funds					73,025			6,235

For the year ending 31 October 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 10 March 2016

.........................................
T L Sperrey
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Fuel Cell Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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.

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. Cost is based on the most recent purchase invoice for each stock item.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing

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.

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.

2	Share capital

Allotted, called up and fully paid shares

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

3	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
T L Sperrey
Director loan account	-	39	39	-

4

Control

The company is controlled by T L Sperrey.

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