Exon Tech Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 04159060

EXON TECH LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

30 June 2016

SOUTHON & CO

Chartered Certified Accountants

6 The Parade

Exmouth

Devon

EX8 1RL

EXON TECH LIMITED

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE

DIRECTORS ON THE PREPARATION OF THE UNAUDITED

STATUTORY ACCOUNTS OF EXON TECH LIMITED

YEAR ENDED 30 JUNE 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Exon Tech Limited for the year ended 30 June 2016 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Exon Tech 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 abbreviated accounts of Exon Tech Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exon Tech Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Exon Tech Limited has kept adequate accounting records and to prepare statutory abbreviated accounts that give a true and fair view of the assets, liabilities, financial position and profit of Exon Tech Limited. You consider that Exon Tech 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 abbreviated accounts of Exon Tech 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 abbreviated accounts.

SOUTHON & CO Chartered Certified Accountants

6 The Parade Exmouth Devon EX8 1RL

21 February 2017

EXON TECH LIMITED

ABBREVIATED BALANCE SHEET

30 June 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			1,018	1,358
			-------	-------

CURRENT ASSETS

Stocks	67,575		-
Debtors	9,322		6,450
	--------		-------
	76,897		6,450
CREDITORS: Amounts falling due within one year	46,856		16,807
	--------		--------
NET CURRENT ASSETS/(LIABILITIES)		30,041	( 10,357)
		--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		31,059	( 8,999)

PROVISIONS FOR LIABILITIES	147	-
	--------	-------
	30,912	( 8,999)
	--------	-------

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		30,812	( 9,099)
		--------	-------
SHAREHOLDERS' FUNDS/(DEFICIT)		30,912	( 8,999)
		--------	-------

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 by the directors and authorised for issue on 21 February 2017 , and are signed on their behalf by:

Mr M V Lopez Director

Company Registration Number: 04159060

EXON TECH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 JUNE 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 amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost.

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:

Plant & Machinery-20% Straight Line

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 July 2015 and 30 June 2016	23,450
	--------

DEPRECIATION

At 1 July 2015	22,092
Charge for year	340
	--------
At 30 June 2016	22,432
	--------

NET BOOK VALUE

At 30 June 2016	1,018
	-------

At 30 June 2015	1,358
	-------

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary A shares of £ 1 each	75	75	75	75
Ordinary B shares of £ 1 each	25	25	25	25
	----	----	----	----
	100	100	100	100
	----	----	----	----