Electrix North East Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06451790 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Electrix North East Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr E McWilliams

SECRETARY:

Mrs J McWilliams

REGISTERED OFFICE:

16 Appley Close

Eaglescliffe

Stockton on Tees

TS16 0BZ

REGISTERED NUMBER:

06451790 (England and Wales)

ACCOUNTANTS:

JBC Accountants Limited

Chartered Accountants

3B Lockheed Court

Preston Farm

Stockton on Tees

TS18 3SH

FIXED ASSETS

Tangible assets

2

15,128

20,700

CURRENT ASSETS

Stocks

250

Debtors

18,378

21,799

Cash at bank

14,025

5,374

32,653

27,423

CREDITORS

Amounts falling due within one year

3

38,092

32,242

NET CURRENT LIABILITIES

(5,439

)

(4,819

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,689

15,881

CREDITORS

Amounts falling due after more than one
year

3

(6,293

)

(10,106

)

PROVISIONS FOR LIABILITIES

(3,026

)

(2,876

)

NET ASSETS

370

2,899

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

270

2,799

SHAREHOLDERS' FUNDS

370

2,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 31 August 2016 and were signed by:

Mr E McWilliams - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 10% 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 the 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

33,844

DEPRECIATION

At 1 April 2015

13,144

Charge for year

5,572

At 31 March 2016

18,716

NET BOOK VALUE

At 31 March 2016

15,128

At 31 March 2015

20,700

3.

CREDITORS

Creditors include an amount of £ 10,106 (2015 - £ 13,919 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

81

Ordinary

£1

81

19

Ordinary B

£1

19

100