Fuel Cell Systems Ltd - Period Ending 2016-10-31

Registration number: 07411241

Fuel Cell Systems Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Fuel Cell Systems Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Fuel Cell Systems Ltd
(Registration number: 07411241)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Current assets
Stocks					114,476			117,270
Debtors					211,852			104,558
Cash at bank and in hand					165,439			39,927
					491,767			261,755
Creditors: Amounts falling due within one year					(302,586)			(188,730)
Total assets less current liabilities					189,181			73,025
Capital and reserves
Called up share capital		2			1			1
Profit and loss account					189,180			73,024
Shareholders' funds					189,181			73,025

For the year ending 31 October 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 17 February 2017

.........................................
T L Sperrey
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Fuel Cell Systems Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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.

Other grants

Grants received of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Research and development

Research and development expenditure is written off as incurred.

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. Cost is based on the most recent purchase invoice for each stock item.

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

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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	Share capital

Allotted, called up and fully paid shares

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

3

Control

The company is controlled by T L Sperrey.

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