Elite Recycling Machinery Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04584175 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

ELITE RECYCLING MACHINERY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr C J Smits

Mrs F J Smits

SECRETARY:

Mrs F J Smits

REGISTERED OFFICE:

Janelle House

Hartham Lane

Hertford

Hertfordshire

SG14 1QN

REGISTERED NUMBER:

04584175 (England and Wales)

ACCOUNTANTS:

Gary J Cansick & Co

Chartered Acountants

Hartham Lane

Hertford

Hertfordshire

SG14 1QN

FIXED ASSETS

Tangible assets

2

2,567

1,125

CURRENT ASSETS

Debtors

2,068

5,762

Cash at bank

23,410

10,901

25,478

16,663

CREDITORS

Amounts falling due within one year

4,444

5,467

NET CURRENT ASSETS

21,034

11,196

TOTAL ASSETS LESS CURRENT
LIABILITIES

23,601

12,321

PROVISIONS FOR LIABILITIES

500

209

NET ASSETS

23,101

12,112

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

23,099

12,110

SHAREHOLDERS' FUNDS

23,101

12,112

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 20 June 2016 and were signed on its behalf by:

Mr C J Smits - 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,500

Additions

1,900

At 31 December 2015

3,400

DEPRECIATION

At 1 January 2015

375

Charge for year

458

At 31 December 2015

833

NET BOOK VALUE

At 31 December 2015

2,567

At 31 December 2014

1,125

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

2

Ordinary

£1

2