Filament Electrical Services Limited - Period Ending 2016-03-31

Registration number: 07995735

Filament Electrical Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Accountax Ltd
Accountants and Tax Advisors
Maple House
Larch Avenue
Sunninghill
Berkshire
SL5 0AW

Filament Electrical Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Filament Electrical Services Limited
(Registration number: 07995735)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					15,999			12,433
Current assets
Stocks					852			761
Debtors					36			2,185
Cash at bank and in hand					6,579			6,198
					7,467			9,144
Creditors: Amounts falling due within one year					(19,057)			(16,990)
Net current liabilities					(11,590)			(7,846)
Total assets less current liabilities					4,409			4,587
Provisions for liabilities					(2,357)			(1,459)
Net assets					2,052			3,128
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					1,952			3,028
Shareholders' funds					2,052			3,128

For the year ending 31 March 2016 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 16 July 2016 and signed on its behalf by:

.........................................
Mr Andrew John Ryan
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Filament Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economc life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Filament Electrical Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		26,612			26,612
Additions		8,900			8,900
At 31 March 2016		35,512			35,512
Depreciation
At 1 April 2015		14,179			14,179
Charge for the year		5,334			5,334
At 31 March 2016		19,513			19,513
Net book value
At 31 March 2016		15,999			15,999
At 31 March 2015		12,433			12,433

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3