Rel Acoustics Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05455463 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Rel Acoustics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Brody

A Brody

J Hunter

REGISTERED OFFICE:

North Road

Bridgend Industrial Estate

Bridgend

Mid Glamorgan

CF31 3TP

REGISTERED NUMBER:

05455463 (England and Wales)

ACCOUNTANTS:

Corrigan Associates Bristol LLP

The Tramshed

25 Lower Park Row

Bristol

BS1 5BN

FIXED ASSETS

Intangible assets

2

830,224

913,224

Tangible assets

3

311,706

345,882

1,141,930

1,259,106

CURRENT ASSETS

Stocks

586,773

498,203

Debtors

585,912

903,939

Cash at bank

48,994

178,284

1,221,679

1,580,426

CREDITORS

Amounts falling due within one year

4

372,802

588,022

NET CURRENT ASSETS

848,877

992,404

TOTAL ASSETS LESS CURRENT LIABILITIES

1,990,807

2,251,510

CREDITORS

Amounts falling due after more than one
year

4

2,290,129

2,306,571

CAPITAL AND RESERVES

Called up share capital

5

250,000

Profit and loss account

(549,322

)

(305,061

)

SHAREHOLDERS' FUNDS

(299,322

)

(55,061

)

1,990,807

2,251,510

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 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 9 September 2016 and were signed on
its behalf by:

A Brody - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intellectual property

Amortisation on Intellectual Property is being written off over 20 years so as to write off the cost of

the asset, less the residual value over the useful economic life of the asset.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% 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.

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 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.

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.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal

level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit

is included in the valuation of work in progress.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

1,695,264

AMORTISATION

At 1 January 2015

782,040

Amortisation for year

83,000

At 31 December 2015

865,040

NET BOOK VALUE

At 31 December 2015

830,224

At 31 December 2014

913,224

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

563,901

Additions

15,252

Disposals

(66,817

)

At 31 December 2015

512,336

DEPRECIATION

At 1 January 2015

218,019

Charge for year

49,428

Eliminated on disposal

(66,817

)

At 31 December 2015

200,630

NET BOOK VALUE

At 31 December 2015

311,706

At 31 December 2014

345,882

4.

CREDITORS

Creditors include an amount of £ 43,384 (2014 - £ 60,010 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

250,000

Ordinary

£1

250,000