Acclaim Safety Systems Limited - Period Ending 2014-02-28

Registration number: 03923418

Acclaim Safety Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2014
 

Stewarts Accountants Limited
271 High Street
Berkhamsted
Herts
HP4 1AA

Acclaim Safety Systems Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Acclaim Safety Systems Limited
for the Year Ended 28 February 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Acclaim Safety Systems Limited for the year ended 28 February 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Acclaim Safety Systems Limited, as a body, in accordance with the terms of our engagement letterdated 6 October 2004. Our work has been undertaken solely to prepare for your approval the accounts of Acclaim Safety Systems Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acclaim Safety Systems Limited and its Board of Directors as a body for our work or for this report.

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

......................................

Stewarts Accountants Limited
271 High Street
Berkhamsted
Herts
HP4 1AA

2 September 2014

Page 1

Acclaim Safety Systems Limited
(Registration number: 03923418)
Abbreviated Balance Sheet at 28 February 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					6,850			7,209
Current assets
Debtors					356,034			341,913
Cash at bank and in hand					39,329			148,829
					395,363			490,742
Creditors: Amounts falling due within one year					(396,787)			(406,995)
Net current (liabilities)/assets					(1,424)			83,747
Total assets less current liabilities					5,426			90,956
Creditors: Amounts falling due after more than one year					-			(21,000)
Net assets					5,426			69,956
Capital and reserves
Called up share capital		3			600			600
Profit and loss account					4,826			69,356
Shareholders' funds					5,426			69,956

For the year ending 28 February 2014 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 directors acknowledge their 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 Board on 2 September 2014 and signed on its behalf by:

.........................................
Paul Ramsell
Director

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

Acclaim Safety Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... 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 April 2008).

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 on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance basis

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.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Acclaim Safety Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2013		25,451			25,451
Additions		1,924			1,924
At 28 February 2014		27,375			27,375
Depreciation
At 1 March 2013		18,242			18,242
Charge for the year		2,283			2,283
At 28 February 2014		20,525			20,525
Net book value
At 28 February 2014		6,850			6,850
At 28 February 2013		7,209			7,209

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		300			300			300			300
Ordinary A of £1 each		150			150			150			150
Ordinary B of £1 each		150			150			150			150
		600			600			600			600

Page 4