Innovative Solutions (UK) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03654087 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

for

Innovative Solutions (UK) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A Rigby

REGISTERED OFFICE:

Unit 1 - 3 Mayfield Centre

Mayfield Street

Rochdale

Lancs

OL16 2UZ

REGISTERED NUMBER:

03654087 (England and Wales)

ACCOUNTANTS:

Mosley & Co

14 Market Place

Ramsbottom

Bury

Lancashire

BL0 9HT

FIXED ASSETS

Tangible assets

2

302

430

CURRENT ASSETS

Stocks

10,894

17,928

Debtors

13,951

8,901

Cash at bank and in hand

17,975

16,084

42,820

42,913

CREDITORS

Amounts falling due within one year

10,124

9,051

NET CURRENT ASSETS

32,696

33,862

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,998

34,292

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

32,898

34,192

SHAREHOLDERS' FUNDS

32,998

34,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 July 2016 and were signed by:

A Rigby - 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 etc

-

33% on cost and 15% on reducing balance

Stocks

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

for obsolete and slow moving items.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation

computations in periods different from those in which they are included in the company's

accounts. Deferred tax is provided in full on timing differences which result in an obligation to

pay more (or less) tax at a future date, at the average tax rates that are expected to apply

when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from revaluations of fixed assets

where there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

1,515

DEPRECIATION

At 1 June 2015

1,085

Charge for year

128

At 31 May 2016

1,213

NET BOOK VALUE

At 31 May 2016

302

At 31 May 2015

430

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary

£1

100