Devcomp Ltd - Period Ending 2016-03-31

Registration number: 04470701

Devcomp Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016

Devcomp Ltd

(Registration number: 04470701)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	6,717	7,714
Current assets
Debtors		40,012	43,308
Cash at bank and in hand		54,018	30,754
		94,030	74,062
Prepayments and accrued income		-	5,977
Creditors: Amounts falling due within one year		(67,598)	(49,735)
Net current assets		26,432	30,304
Total assets less current liabilities		33,149	38,018
Provisions for liabilities		-	(1,524)
Net assets		33,149	36,494
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		33,049	36,394
Shareholders funds		33,149	36,494

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 its 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 and 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Small Entities (effective 2015).

The notes on pages 3 to 4 form an integral part of these financial statements.
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Devcomp Ltd

(Registration number: 04470701)
Abbreviated Balance Sheet as at 31 March 2016

Approved by the director on 30 April 2016

.........................................
IS Deverill
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Devcomp Ltd

Notes to the Abbreviated Accounts

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. Revenue is recognised when individual assignments are completed on behalf of clients.

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.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

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 and equipment	25% straight line
Computer equipment	33% straight line

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.

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 April 2015	24,997	23,942	48,939
Additions	-	7,373	7,373
At 31 March 2016	24,997	31,315	56,312
Depreciation
At 1 April 2015	24,997	16,228	41,225
Charge for the year	-	8,370	8,370
At 31 March 2016	24,997	24,598	49,595
Net book value
At 31 March 2016	-	6,717	6,717
At 31 March 2015	-	7,714	7,714

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Devcomp Ltd

Notes to the Abbreviated Accounts

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 April 2015	24,997	23,942	48,939
Additions	-	7,373	7,373
At 31 March 2016	24,997	31,315	56,312
Depreciation
At 1 April 2015	24,997	16,228	41,225
Charge for the year	-	8,370	8,370
At 31 March 2016	24,997	24,598	49,595
Net book value
At 31 March 2016	-	6,717	6,717
At 31 March 2015	-	7,714	7,714

Share capital

Allotted, called up and fully paid shares

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

Related party transactions

Transactions with directors

2016	At 1 April 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 March 2016 £
IS Deverill
Loan account	(23,797)	21,409	(28,650)	-	(31,038)

The company provided the directors with a current account where items of personal expenditure paid for by the company were charged. The amounts were repaid by direct repayments made by the directors and by way of the award of bonuses to the directors. All advances were interest free, unsecured and repayable on demand.

2015	At 1 April 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 March 2015 £
IS Deverill
Loan account	(18,481)	22,484	(27,800)	-	(23,797)

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