9C Solutions Limited - Period Ending 2016-03-31

Registration number: 07589195

9C Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

9C Solutions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
9C Solutions Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 9C Solutions Limited for the year ended 31 March 2016 set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of 9C Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of 9C Solutions Limited and state those matters that we have agreed to state to them, as a body, and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 9C Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 9C Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 9C Solutions Limited. You consider that 9C Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of 9C Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

31 December 2016

Page 1

9C Solutions Limited
(Registration number: 07589195)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			129,018			93,482
Current assets
Stocks					13,790			13,909
Debtors					87,174			51,592
Cash at bank and in hand					17,693			-
					118,657			65,501
Creditors: Amounts falling due within one year					(109,747)			(40,608)
Net current assets					8,910			24,893
Total assets less current liabilities					137,928			118,375
Creditors: Amounts falling due after more than one year					(91,949)			(114,780)
Provisions for liabilities					(15,660)			(1,150)
Net assets					30,319			2,445
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					30,219			2,345
Shareholders' funds					30,319			2,445

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 31 December 2016

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

9C Solutions Limited
(Registration number: 07589195)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr P Chapman
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

9C Solutions 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

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

Government grants

Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to the purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets while grants related to expenses are treated as other income in the profit and loss account.

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 machinery	10% per annum on a straight line basis
Short term lease building	Writen off over the period of the lease

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. Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

9C Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		126,322			126,322
Additions		51,374			51,374
At 31 March 2016		177,696			177,696
Depreciation
At 1 April 2015		32,840			32,840
Charge for the year		15,838			15,838
At 31 March 2016		48,678			48,678
Net book value
At 31 March 2016		129,018			129,018
At 31 March 2015		93,482			93,482

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 5

9C Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

		2016 £			2015 £
Amounts falling due within one year		15,857			11,954
Amounts falling due after more than one year		43,489			54,320
Total secured creditors		59,346			66,274

4	Share capital

Allotted, called up and fully paid shares

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

Page 6