Ltek Systems Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09030737 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

LTEK SYSTEMS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

L P T Twigg

REGISTERED OFFICE:

21 Pond Lane

New Tupton

Chesterfield

Derbyshire

S42 6BG

REGISTERED NUMBER:

09030737 (England and Wales)

ACCOUNTANTS:

Bucknell Whitehouse Limited

The Masters House

92a Arundel Street

Sheffield

S1 4RE

FIXED ASSETS

Tangible assets

2

2,339

584

CURRENT ASSETS

Stocks

100

Debtors

56,545

10,639

Cash at bank

157

9,038

56,802

19,777

CREDITORS

Amounts falling due within one year

26,676

12,840

NET CURRENT ASSETS

30,126

6,937

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,465

7,521

PROVISIONS FOR LIABILITIES

468

-

NET ASSETS

31,997

7,521

CAPITAL AND RESERVES

Called up share capital

3

10

Profit and loss account

31,987

7,511

SHAREHOLDERS' FUNDS

31,997

7,521

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:

L P T Twigg - 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.

Tangible fixed assets

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

Computer equipment

-

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 where transactions or events that result in an obligation

to pay more tax in the future or a right to pay less tax in the future have occurred at the

balance sheet date. Timing differences are differences between the company's taxable profit

and loss and its results as stated in the financial statements that arise from the inclusion of

gains and losses in assessments in periods different from those in which they are

recognised in the financial statements.

A net deferred tax asset is recognised only if can be regarding as 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 assets and liabilities are not discounted.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which

they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

871

Additions

2,431

At 31 May 2016

3,302

DEPRECIATION

At 1 June 2015

287

Charge for year

676

At 31 May 2016

963

NET BOOK VALUE

At 31 May 2016

2,339

At 31 May 2015

584

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

10

Ordinary

1

10