Abbreviated Company Accounts - INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED

Abbreviated Company Accounts - INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED

INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED - Company Information

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Registered Number 07046078

INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED

Abbreviated Accounts

31 December 2013

INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED Registered Number 07046078

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 17,117 20,658
17,117 20,658
Current assets
Debtors 170,442 77,044
Cash at bank and in hand 1,941,749 1,246,673
2,112,191 1,323,717
Creditors: amounts falling due within one year (1,787,125) (1,190,060)
Net current assets (liabilities) 325,066 133,657
Total assets less current liabilities 342,183 154,315
Total net assets (liabilities) 342,183 154,315
Capital and reserves
Called up share capital 2 2
Profit and loss account 342,181 154,313
Shareholders' funds 342,183 154,315
  • For the year ending 31 December 2013 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 26 September 2014

And signed on their behalf by:
Abdulnaser Youssef, Director

INNOVATIVE TECHNOLOGY AND SCIENCE LIMITED Registered Number 07046078

Notes to the Abbreviated Accounts for the period ended 31 December 2013

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.

2Tangible fixed assets
£
Cost
At 1 January 2013 27,045
Additions 739
Disposals -
Revaluations -
Transfers -
At 31 December 2013 27,784
Depreciation
At 1 January 2013 6,387
Charge for the year 4,280
On disposals -
At 31 December 2013 10,667
Net book values
At 31 December 2013 17,117
At 31 December 2012 20,658

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings
and equipment - 20% reducing balance