Animal Systems Limited - Period Ending 2016-03-31

Registration number: 04318983

Animal Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Animal Systems Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Animal Systems Limited
(Registration number: 04318983)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					13,197			33,550
Current assets
Stocks					174,750			53,956
Debtors		3			645,848			286,739
Cash at bank and in hand					204,092			76,338
					1,024,690			417,033
Creditors: Amounts falling due within one year					(712,527)			(212,035)
Net current assets					312,163			204,998
Total assets less current liabilities					325,360			238,548
Creditors: Amounts falling due after more than one year					(98,077)			(80,000)
Provisions for liabilities					-			(2,973)
Net assets					227,283			155,575
Capital and reserves
Called up share capital		5			404			404
Profit and loss account					226,879			155,171
Shareholders' funds					227,283			155,575

For the year ending 31 March 2016 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 director acknowledges his 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 director on 17 August 2016

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Animal Systems Limited
(Registration number: 04318983)
Abbreviated Balance Sheet at 31 March 2016
......... continued

 Mr S Quick
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Animal Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% reducing balance
Fixtures and fittings	25% reducing balance
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Research and development

Research and development expenditure is written off as incurred.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

Animal Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		116,392			116,392
Additions		3,500			3,500
Disposals		(25,808)			(25,808)
At 31 March 2016		94,084			94,084
Depreciation
At 1 April 2015		82,842			82,842
Charge for the year		4,497			4,497
Eliminated on disposals		(6,452)			(6,452)
At 31 March 2016		80,887			80,887
Net book value
At 31 March 2016		13,197			13,197
At 31 March 2015		33,550			33,550

Page 4

Animal Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

3

Debtors

Debtors includes £550,503 (2015 - £187,808) receivable after more than one year.

 

4

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		162,581			95,714

5	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		404			404			404			404

6	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr S Quick
Overdrawn Directors' Loan Account	117,871	110,644	96,481	120,227

Page 5