SBM Digital Systems Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03625299 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2016

FOR

SBM DIGITAL SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A Davies

Mrs C Davies

SECRETARY:

Mrs C Davies

REGISTERED OFFICE:

Sutton Hall Farm

Sutton Maddock

Shifnal

Shropshire

TF11 9NQ

REGISTERED NUMBER:

03625299 (England and Wales)

ACCOUNTANTS:

Stanton Ralph & Co Limited

Chartered Accountants

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

FIXED ASSETS

9,095

Tangible assets

2

18,664

CURRENT ASSETS

17,969

Stocks

20,701

143,409

Debtors

131,995

110

Cash at bank and in hand

6

161,488

152,702

CREDITORS

129,564

Amounts falling due within one year

117,720

31,924

NET CURRENT ASSETS

34,982

41,019

TOTAL ASSETS LESS CURRENT
LIABILITIES

53,646

CREDITORS

(6,117

)

Amounts falling due after more than one
year

(14,521

)

(126

)

PROVISIONS FOR LIABILITIES

(114

)

34,776

NET ASSETS

39,011

CAPITAL AND RESERVES

150

Called up share capital

3

150

34,626

Profit and loss account

38,861

34,776

SHAREHOLDERS' FUNDS

39,011

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 28th June 2016 and were signed on its behalf by:

Mr A Davies - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% 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 is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Operating leases

Operating lease rentals are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

26,563

Additions

15,775

At 31st March 2016

42,338

DEPRECIATION

At 1st April 2015

17,468

Charge for year

6,206

At 31st March 2016

23,674

NET BOOK VALUE

At 31st March 2016

18,664

At 31st March 2015

9,095

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

150

Ordinary

£1

150

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2016 and

31st March 2015:

31.3.16

31.3.15

£

Mr A Davies and Mrs C Davies

Balance outstanding at start of year

76,399

88,873

Amounts advanced

59,219

61,563

Amounts repaid

(68,356

)

(74,037

)

Balance outstanding at end of year

67,262

76,399

No interest is charged.