IT Developers Limited - Period Ending 2016-03-31

Registration number: 04669943

IT Developers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Stubbs Parkin Limited
Chartered Accountants
55 Hoghton Street
Southport
Merseyside
PR9 0PG

IT Developers Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

IT Developers Limited
(Registration number: 04669943)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £						2015 £
	£			£			£			£
Fixed assets
Tangible fixed assets								23,365						16,495
Current assets
Debtors					48,020						63,828
Cash at bank and in hand					27,763						35,129
					75,783						98,957
Creditors: Amounts falling due within one year					(54,583)						(53,787)
Net current assets								21,200						45,170
Net assets								44,565						61,665
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					44,465						61,565
Shareholders' funds								44,565						61,665

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 director acknowledges his 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 director on 29 November 2016

.........................................
Mr I.J. Truman
Director

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

IT Developers 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

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 economic life as follows:

Asset class	Depreciation method and rate
Plant & equipment	15% reducing balance
Fixtures & fittings	15% reducing balance

2	Fixed assets

Page 2

IT Developers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		50,000			58,973			108,973
Additions		-			10,999			10,999
At 31 March 2016		50,000			69,972			119,972
Depreciation
At 1 April 2015		50,000			42,478			92,478
Charge for the year		-			4,129			4,129
At 31 March 2016		50,000			46,607			96,607
Net book value
At 31 March 2016		-			23,365			23,365
At 31 March 2015		-			16,495			16,495

3	Share capital

Allotted, called up and fully paid shares

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

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