Overview Engineering Limited Small abbreviated accounts

OVERVIEW ENGINEERING LIMITED - Company Information

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Company Registration Number 03899833

Overview Engineering Limited

Unaudited Abbreviated Accounts

For the Year Ended

31 May 2016

Overview Engineering Limited

Abbreviated Balance Sheet

31 May 2016

	2016		2015
Note	£	£	£

Fixed Assets	2
Tangible assets		-	149
		----	----

Current Assets

Debtors	3,039		-
Cash at bank and in hand	322,001		396,388
	---------		---------
	325,040		396,388
Creditors: Amounts Falling due Within One Year	( 59,411)		( 75,602)
	---------		---------
Net Current Assets		265,629	320,786
		---------	---------
Total Assets Less Current Liabilities		265,629	320,935
		---------	---------

Capital and Reserves

Called up equity share capital	3	2	2
Profit and loss account		265,627	320,933
		---------	---------
Shareholders' Funds		265,629	320,935
		---------	---------

For the year ended 31st May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 5 January 2017 .

Mr S Lock Director

Company Registration Number: 03899833

Overview Engineering Limited

Notes to the Abbreviated Accounts

Year Ended 31st May 2016

1. Accounting Policies

Basis of Accounting

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

The turnover shown in the profit and loss account represents the value of work done during the year, exclusive of Value Added Tax.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer equipment-33% straight line

Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

2. Fixed Assets

	Tangible Assets
	£

Cost

At 1st June 2015 and 31st May 2016	848
	----

Depreciation

At 1st June 2015	699
Charge for year	149
	----
At 31st May 2016	848
	----

Net Book Value

At 31st May 2016	–
	----

At 31st May 2015	149
	----

3. Share Capital

Authorised share capital:

	2016	2015
	£	£

1,000 Ordinary shares of £ 1 each	1,000	1,000
	-------	-------

Allotted, called up and fully paid:

2016		2015
No.	£	No.	£

Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----