Technicon (Exeter) Ltd
Technicon (Exeter) Ltd
Registered number: 3717585
Abbreviated accounts
For The Year Ended 30 June 2015
50 Cowick Street
Exeter
Devon
EX4 1AP
Technicon (Exeter) Ltd
Company No. 3717585
Abbreviated Balance Sheet
30 June 2015
Abbreviated Balance Sheet
2015 | 2014 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 2 |
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13,286 | 12,915 | ||||
CURRENT ASSETS | |||||
Debtors | 3 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 4 |
( |
( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS |
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Technicon (Exeter) Ltd
Company No. 3717585
Abbreviated Balance Sheet (continued)
30 June 2015
Director's responsibilities
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The member has 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
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Technicon (Exeter) Ltd
Notes to the Abbreviated Accounts
For The Year Ended 30 June 2015
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts, including recognition when the company has the right to consideration.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Motor Vehicles |
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Computer Equipment |
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Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Tangible Assets
Total | |
---|---|
Cost | £ |
As at |
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Additions |
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As at |
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Depreciation | |
As at |
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As at |
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Net Book Value | |
As at |
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As at |
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Debtors
Debtors include an amount of £
167,990
(2014 - £
167,990
)
falling due after more than one year.
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Technicon (Exeter) Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 30 June 2015
Creditors: Amounts Falling Due After More Than One Year
2015 | 2014 | ||
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£ | £ | ||
Cumulative preference shares |
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PREFERENCE SHARES
Details of shares shown as liabilities are as follows.
Allotted, issued and fully paid.
Number: 50,000 Class: Cumulative redeemable preference Nominal Value: £1 2015: £50,000 2014: £50,000
The Preference Shares are redeemable at par on 1st June 2019 or earlier at the Company's option.
The Preference Shares carry an entitlement to a cumulative dividend of 20% per annum.
Should the company be wound up, the nominal value and any arrears of dividend payable to the date of winding up would be repaid in priority to any other share capital in the Company.
The Preference Shares carry no votes at meetings unless the Company fails to redeem the shares on the redemption date.
Transactions With and Loans to Directors
Included within Creditors is the following loan to the company by the director:
As at |
Amounts advanced | Amounts repaid | As at |
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£ | £ | £ | £ | |
Mr Henry Parkin | 6,791 | 16,735 | 24,167 | 14,223 |
The loan is interest-free and repayable on demand.
Dividends paid to directors
2015 | 2014 | |
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£ | £ | |
Mr Henry Parkin | 7,500 | 8,000 |
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