ON Technical Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08106646

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

for

ON Technical Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

O Needham

REGISTERED OFFICE:

6 Nottingham Road

Long Eaton

Nottinghamshire

NG10 1HP

REGISTERED NUMBER:

08106646

ACCOUNTANTS:

Phipp & Co (Accountants) Limited

6 Nottingham Road

Long Eaton

Nottinghamshire

NG10 1HP

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

410

580

410

580

CURRENT ASSETS

Stocks

1,000

13,449

Debtors

5,088

23,382

Cash at bank

6,511

557

12,599

37,388

CREDITORS

Amounts falling due within one year

10,212

37,512

NET CURRENT ASSETS/(LIABILITIES)

2,387

(124

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,797

456

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

2,697

356

SHAREHOLDERS' FUNDS

2,797

456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 or 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 February 2017 and were signed by:

O Needham - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33.33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

1,000

AMORTISATION

At 1 June 2015

and 31 May 2016

1,000

NET BOOK VALUE

At 31 May 2016

-

At 31 May 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

1,509

DEPRECIATION

At 1 June 2015

929

Charge for year

170

At 31 May 2016

1,099

NET BOOK VALUE

At 31 May 2016

410

At 31 May 2015

580

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100