Measurement Systems Ltd

Measurement Systems Ltd

MEASUREMENT SYSTEMS LIMITED - Company Information

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Company Registration No. 1572811 (England and Wales)
Measurement Systems Ltd Abbreviated unaudited accounts for the year ended 31 December 2015
Measurement Systems Ltd Abbreviated Balance Sheet as at 31 December 2015
2015 
2014 
Notes
£ 
£ 
Fixed assets
Tangible assets
2
211,315 
215,155 
Investments
3
129,306 
129,306 
340,621 
344,461 
Current assets
Stocks
52,613 
44,606 
Debtors
68,777 
147,359 
Cash at bank and in hand
133,282 
33,571 
254,672 
225,536 
Creditors: amounts falling due within one year
(138,543)
(137,904)
Net current assets
116,129 
87,632 
Total assets less current liabilities
456,750 
432,093 
Creditors: amounts falling due after more than one year
(91,254)
(104,549)
Net assets
365,496 
327,544 
Capital and reserves
Called up share capital
5
150,010 
150,010 
Share premium
159,548 
159,548 
Capital redemption reserve
100,000 
100,000 
Profit and loss account
(44,062)
(82,014)
Total shareholders' funds
365,496 
327,544 
For the year ending 31 December 2015 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 2 August 2016
Ms Carol Waddell Director Company Registration No. 1572811
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Measurement Systems Ltd Notes to the Abbreviated Accounts for the year ended 31 December 2015
1
Accounting policies
Basis of preparation
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
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
50 years straight line
Fixtures & fittings
20% - 33.33% straight line
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
Investments valuation
Fixed asset investments are stated at cost less provision for diminution in value.
Employee Share Ownership Trust
The company has entered into a Trust Deed establishing the Measurement Systems Limited Employee Share Ownership Trust. The Trust has been established to encourage and facilitate the acquisition and holding of shares in the company by or for the benefit of the employees of the company. Measurement Systems Trustee Company Limited, a 100% owned subsidiary of the company, has been appointed trustee of the Trust. Its only activity is to act as trustee to the Trust and therefore for accounting purposes, it is considered dormant. The assets and liabilities of the Trust are disclosed within the accounts as if there were part of the company.
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Measurement Systems Ltd Notes to the Abbreviated Accounts for the year ended 31 December 2015
2
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost
At 1 January 2015
238,459 
63,628 
302,087 
Additions
- 
2,333 
2,333 
At 31 December 2015
238,459 
65,961 
304,420 
Depreciation
At 1 January 2015
26,179 
60,753 
86,932 
Charge for the year
4,769 
1,404 
6,173 
At 31 December 2015
30,948 
62,157 
93,105 
Net book value
At 31 December 2015
207,511 
3,804 
211,315 
At 31 December 2014
212,280 
2,875 
215,155 
3
Investments
Other investments 
£ 
Cost
At 1 January 2015
129,306 
At 31 December 2015
129,306 
The company holds 20% or more of the share capital of the following companies: Measurement Systems Trustee Company Ltd Ordinary 100% shares
4
Loans
2015 
2014 
£ 
£ 
The HSBC property loan is secured against 16 Kingfisher Court, Newbury.
5
Share capital
2015 
2014 
£ 
£ 
Allotted, called up and fully paid:
150,010 Ordinary shares of £1 each
150,010 
150,010 
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