Orbitec Ltd - Abbreviated accounts 16.1

Orbitec Ltd - Abbreviated accounts 16.1

ORBITEC LTD - Company Information

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REGISTERED NUMBER: 05052967 (England and Wales)















ORBITEC LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015






ORBITEC LTD (REGISTERED NUMBER: 05052967)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

ORBITEC LTD (REGISTERED NUMBER: 05052967)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 53,172 54,874

CURRENT ASSETS
Stocks 254,120 314,034
Debtors 111,387 391,129
Cash at bank and in hand 719,168 534,921
1,084,675 1,240,084
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
308,790
522,582
NET CURRENT ASSETS 775,885 717,502
TOTAL ASSETS LESS CURRENT
LIABILITIES
829,057
772,376

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
5,074
6,753
NET ASSETS 823,983 765,623

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 823,883 765,523
SHAREHOLDERS' FUNDS 823,983 765,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 notes form part of these abbreviated accounts

Page 1 continued...
ORBITEC LTD (REGISTERED NUMBER: 05052967)

ABBREVIATED BALANCE SHEET - continued
31 DECEMBER 2015


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 2 September 2016 and were signed by:





K Hennah - Director


The notes form part of these abbreviated accounts

Page 2
ORBITEC LTD (REGISTERED NUMBER: 05052967)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).

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 and services, net of value added tax and trade
discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold - 5% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

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.

Foreign currencies
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 rate
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving
at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line
basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Page 3 continued...
ORBITEC LTD (REGISTERED NUMBER: 05052967)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 204,135
Additions 28,116
Disposals (23,800 )
At 31 December 2015 208,451
DEPRECIATION
At 1 January 2015 149,261
Charge for year 23,868
Eliminated on disposal (17,850 )
At 31 December 2015 155,279
NET BOOK VALUE
At 31 December 2015 53,172
At 31 December 2014 54,874

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary shares £1 100 100

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