DOWNEND_ELECTRICS_LTD - Accounts

DOWNEND ELECTRICS LIMITED - Company Information

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Company Registration No. 01085404 (England and Wales)

DOWNEND ELECTRICS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

DOWNEND ELECTRICS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DOWNEND ELECTRICS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

82,097

83,017

Current assets

Stocks

1,200

1,000

Debtors

211,452

322,361

Cash at bank and in hand

132,012

57,101

344,664

380,462

Creditors: amounts falling due within one year

(96,785)

(123,751)

Net current assets

247,879

256,711

Total assets less current liabilities

329,976

339,728

Provisions for liabilities

(1,566)

(1,638)

328,410

338,090

Capital and reserves

Called up share capital

4,000

Profit and loss account

324,410

334,090

Shareholders' funds

328,410

338,090

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 20 September 2016

Mr MR Andrews

Ms TM Paragreen

Director

Company Registration No. 01085404

DOWNEND ELECTRICS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

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).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Fixtures, fittings & equipment

20% - 25% reducing balance

Motor vehicles

25% reducing balance

1.5

Stock

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

1.6

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

DOWNEND ELECTRICS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2015

119,815

Additions

2,007

At 30 June 2016

121,822

Depreciation

At 1 July 2015

36,798

Charge for the year

2,927

At 30 June 2016

39,725

Net book value

At 30 June 2016

82,097

At 30 June 2015

83,017

Share capital

2016

2015

Allotted, called up and fully paid

4,000 Ordinary of £1 each

4,000