South Woodford Electronics Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01203430

Abbreviated Accounts

for the Year Ended

31 December 2015

for

South Woodford Electronics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C W Gysin

R A Johnstone

G R Aislabie

SECRETARY:

G R Aislabie

REGISTERED OFFICE:

Unit 5 Southmill Trading Centre

Southmill Road

Bishops Stortford

Hertfordshire

CM23 3DY

REGISTERED NUMBER:

01203430

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Tangible assets

2

3,224

1,714

CURRENT ASSETS

Stocks

92,649

103,111

Debtors

162,105

163,600

Cash at bank

112,508

84,374

367,262

351,085

CREDITORS

Amounts falling due within one year

(148,655

)

(156,050

)

NET CURRENT ASSETS

218,607

195,035

TOTAL ASSETS LESS CURRENT
LIABILITIES

221,831

196,749

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

221,731

196,649

SHAREHOLDERS' FUNDS

221,831

196,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 June 2016 and were signed on its
behalf by:

C W Gysin - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 total invoice value, excluding value added tax, of goods and services

rendered during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

10% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowances for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets

and depreciated over the shorter of the lease term and their useful lives. Obligations under such

agreements are included in creditors net of the finance charge allocated to future periods. The finance

element of the rental payment is charged to the profit and loss account so as to produce constant

periodic rates of change on the net obligations outstanding in each period.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

388,404

Additions

2,250

At 31 December 2015

390,654

DEPRECIATION

At 1 January 2015

386,690

Charge for year

740

At 31 December 2015

387,430

NET BOOK VALUE

At 31 December 2015

3,224

At 31 December 2014

1,714

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

4.	ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent company is Elcomponent Limited, a company

incorporated in England.