MARCHWOOD_SCIENTIFIC_SERV - Accounts

MARCHWOOD SCIENTIFIC SERVICES LIMITED - Company Information

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Company Registration No. 03604766 (England and Wales)

MARCHWOOD SCIENTIFIC SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2015

26-32 Oxford Road

Bournemouth

BH8 8EZ

MARCHWOOD SCIENTIFIC SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

MARCHWOOD SCIENTIFIC SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,355,704

1,048,740

Current assets

Stocks

34,896

30,224

Debtors

564,344

539,317

Cash at bank and in hand

122,530

143,359

721,770

712,900

Creditors: amounts falling due within one year

(400,109)

(385,754)

Net current assets

321,661

327,146

Total assets less current liabilities

1,677,365

1,375,886

Creditors: amounts falling due after more than one year

(600,342)

(269,308)

Provisions for liabilities

(139,785)

(128,544)

937,238

978,034

Capital and reserves

Called up share capital

50,000

Profit and loss account

887,238

928,034

Shareholders' funds

937,238

978,034

MARCHWOOD SCIENTIFIC SERVICES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2015

- 2 -

For the financial year ended 31 October 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 for issue on 27 May 2016

Mr. J Fursman

Mr. K Pettit

Director

Company Registration No. 03604766

MARCHWOOD SCIENTIFIC SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

1.3

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings Leasehold

over the life of the lease

Plant and machinery

20% straight line

Equipment

20% straight line

1.4

Leasing and hire purchase commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

1.5

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

1.7

Deferred taxation

Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

MARCHWOOD SCIENTIFIC SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

Accounting policies

(Continued)

- 4 -

1.8

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Fixed assets

Tangible assets

Cost

At 1 November 2014

2,242,730

Additions

663,771

At 31 October 2015

2,906,501

Depreciation

At 1 November 2014

1,193,990

Charge for the year

356,807

At 31 October 2015

1,550,797

Net book value

At 31 October 2015

1,355,704

At 31 October 2014

1,048,740

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £213,151 (2014 - £136,510).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £600,342 (2014 - £269,308).

MARCHWOOD SCIENTIFIC SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

50,000 Ordinary shares of £1 each

50,000

Ultimate parent company

The parent company is Marchwood Scientific Services (Holdings) Limited, a company registered in England and Wales.