Abbreviated Company Accounts - CASS ELECTRIC COMPANY LIMITED

CASS ELECTRIC COMPANY LIMITED - Company Information

Registered Number 02000305

CASS ELECTRIC COMPANY LIMITED

Abbreviated Accounts

31 March 2014

CASS ELECTRIC COMPANY LIMITED Registered Number 02000305

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	182,789	132,438
		182,789	132,438
Current assets
Stocks		25,769	10,987
Debtors		679,708	960,166
Cash at bank and in hand		283,137	139,716
		988,614	1,110,869
Creditors: amounts falling due within one year		(545,094)	(692,120)
Net current assets (liabilities)		443,520	418,749
Total assets less current liabilities		626,309	551,187
Creditors: amounts falling due after more than one year		(17,541)	(30,094)
Total net assets (liabilities)		608,768	521,093
Capital and reserves
Called up share capital		58	55
Revaluation reserve		73,838	73,838
Other reserves		45	45
Profit and loss account		534,827	447,155
Shareholders' funds		608,768	521,093

For the year ending 31 March 2014 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 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.

Approved by the Board on 22 July 2014

And signed on their behalf by:
I R Tasker, Director
P Toone, Director

CASS ELECTRIC COMPANY LIMITED Registered Number 02000305

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover during the year represents amounts receivable for completed work, net of VAT and trade discounts, and less a provision for anticipated remedial work.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold Straight line over 25 years
Plant and machinery 15% Reducing balance
Fixtures, fittings & equipment 15%- 25% Reducing balance
Motor vehicles 20% Reducing balance

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account in equal instalments over the term of the agreement.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.

Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.

2Tangible fixed assets

	£
Cost
At 1 April 2013	263,079
Additions	101,801
Disposals	(103,706)
Revaluations	-
Transfers	-
At 31 March 2014	261,174
Depreciation
At 1 April 2013	130,641
Charge for the year	21,402
On disposals	(73,658)
At 31 March 2014	78,385
Net book values
At 31 March 2014	182,789
At 31 March 2013	132,438