Abbreviated Company Accounts - SHOWTRAX INTERNATIONAL LIMITED

SHOWTRAX INTERNATIONAL LIMITED - Company Information

03214185 SHOWTRAX INTERNATIONAL LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 03214185 2015-01-01 2015-12-31 03214185 2015-12-31 03214185 2014-12-31 03214185 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 03214185 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-12-31 iso4217:GBP shares

Registered Number 03214185

SHOWTRAX INTERNATIONAL LIMITED

Abbreviated Accounts

31 December 2015

SHOWTRAX INTERNATIONAL LIMITED Registered Number 03214185

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	23,876	34,563
		23,876	34,563
Current assets
Stocks		234,388	219,152
Debtors		126,773	292,082
Cash at bank and in hand		867	696
		362,028	511,930
Creditors: amounts falling due within one year		(393,941)	(528,532)
Net current assets (liabilities)		(31,913)	(16,602)
Total assets less current liabilities		(8,037)	17,961
Creditors: amounts falling due after more than one year		(377,916)	(313,144)
Total net assets (liabilities)		(385,953)	(295,183)
Capital and reserves
Called up share capital	3	101	101
Profit and loss account		(386,054)	(295,284)
Shareholders' funds		(385,953)	(295,183)

For the year ending 31 December 2015 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 2016

And signed on their behalf by:
P Jackson, Director

SHOWTRAX INTERNATIONAL LIMITED Registered Number 03214185

Notes to the Abbreviated Accounts for the period ended 31 December 2015

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 January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance

Other accounting policies
Research & Development Tax Credits
R&D Tax Credits are accounted for on a cash received basis and included as Other Operating Income. The credits are stated gross, before professional fees (included in Adminstrative Expenses).

Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 January 2015	158,269
Additions	1,124
Disposals	(18,445)
Revaluations	-
Transfers	-
At 31 December 2015	140,948
Depreciation
At 1 January 2015	123,706
Charge for the year	8,640
On disposals	(15,274)
At 31 December 2015	117,072
Net book values
At 31 December 2015	23,876
At 31 December 2014	34,563

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100
1 A Ordinary shares of £1 each	1	1