Abbreviated Company Accounts - UNIVERSAL PANELS & SYSTEMS LIMITED

UNIVERSAL PANELS & SYSTEMS LIMITED - Company Information

06396669 UNIVERSAL PANELS & SYSTEMS LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 06396669 2014-11-01 2015-10-31 06396669 2015-10-31 06396669 2014-10-31 06396669 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 06396669 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 iso4217:GBP shares

Registered Number 06396669

UNIVERSAL PANELS & SYSTEMS LIMITED

Abbreviated Accounts

31 October 2015

UNIVERSAL PANELS & SYSTEMS LIMITED Registered Number 06396669

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	-	1,800
Tangible assets	3	-	252
		-	2,052
Current assets
Stocks		64,506	15,246
Debtors		123,904	188,400
Cash at bank and in hand		15,614	39,736
		204,024	243,382
Creditors: amounts falling due within one year		(139,890)	(182,531)
Net current assets (liabilities)		64,134	60,851
Total assets less current liabilities		64,134	62,903
Total net assets (liabilities)		64,134	62,903
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		64,034	62,803
Shareholders' funds		64,134	62,903

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 directors acknowledge their 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 Board on 3 June 2016

And signed on their behalf by:
GEORGE SMITH, Director

UNIVERSAL PANELS & SYSTEMS LIMITED Registered Number 06396669

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets 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:

Fixtures & Fittings; 25% reducing balance basis
Motor Vehicles; 25% reducing balance basis

Intangible assets amortisation policy
Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

2Intangible fixed assets

	£
Cost
At 1 November 2014	6,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	6,000
Amortisation
At 1 November 2014	4,200
Charge for the year	1,800
On disposals	-
At 31 October 2015	6,000
Net book values
At 31 October 2015	0
At 31 October 2014	1,800

Goodwill

3Tangible fixed assets

	£
Cost
At 1 November 2014	1,887
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	1,887
Depreciation
At 1 November 2014	1,635
Charge for the year	252
On disposals	-
At 31 October 2015	1,887
Net book values
At 31 October 2015	0
At 31 October 2014	252

Fixtures & Fittings

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100