Avtek Limited - Period Ending 2015-12-31

Registration number: 03077019

Avtek Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Avtek Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Avtek Limited
(Registration number: 03077019)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			200,359			200,441
Current assets
Debtors					5,165			218
Cash at bank and in hand					2,198			5,142
					7,363			5,360
Creditors: Amounts falling due within one year					(65,064)			(52,831)
Net current liabilities					(57,701)			(47,471)
Total assets less current liabilities					142,658			152,970
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					142,654			152,966
Shareholders' funds					142,658			152,970

For the year ending 31 December 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 14 March 2016

.........................................
T M Pinder
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Avtek Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents the value of rent receivable and services provided during the year. Where payments are received from customers in advance, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Asset class	Depreciation method and rate
Fixtures and fittings	15% straight line basis
Office equipment	15% straight line basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. his treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		206,042			206,042
At 31 December 2015		206,042			206,042
Depreciation
At 1 January 2015		5,601			5,601
Charge for the year		82			82
At 31 December 2015		5,683			5,683
Net book value
At 31 December 2015		200,359			200,359
At 31 December 2014		200,441			200,441

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		4			4			4			4

4

Control

The company is controlled by the director who, together with his wife owns 100% of the called up share capital.

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