Noyce Associates Limited - Period Ending 2016-11-30

 
 
 
 
 
 
 
  Noyce Associates Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 November 2016
 
  Company Registration Number: 03120739

Noyce Associates Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Noyce Associates Limited
Abbreviated Balance Sheet
30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			23,435			27,554
Current assets
Debtors					42,496			27,422
Cash at bank and in hand					16,630			7,964
					59,126			35,386
Creditors: Amounts falling due within one year					(69,684)			(50,365)
Net current liabilities					(10,558)			(14,979)
Total assets less current liabilities					12,877			12,575
Creditors: Amounts falling due after more than one year					(461)			(1,030)
Net assets					12,416			11,545
Capital and reserves
Called up share capital		4			150			150
Profit and loss account					12,266			11,395
Shareholders' funds					12,416			11,545

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Noyce Associates Limited
Abbreviated Balance Sheet
30 November 2016 ......... continued

For the year ending 30 November 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 21 August 2017

A J Noyce
Director

Company Registration Number: 03120739

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Noyce Associates Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 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.

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% Reducing balance
Fixtures, fittings & equipment	15% Reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Noyce Associates Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		81,008			81,008
Additions		1,423			1,423
At 30 November 2016		82,431			82,431
Depreciation
At 1 December 2015		53,454			53,454
Charge for the year		5,542			5,542
At 30 November 2016		58,996			58,996
Net book value
At 30 November 2016		23,435			23,435
At 30 November 2015		27,554			27,554

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		570			2,573
Amounts falling due after more than one year		461			1,030
Total secured creditors		1,031			3,603

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		150			150			150			150

Page 4