Abbreviated Company Accounts - UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED

UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED - Company Information

03655623 UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED 2016-10-31 false 2015-11-01 2016-10-31 true 03655623 2015-11-01 2016-10-31 03655623 2016-10-31 03655623 2015-10-31 03655623 uk-gaap-cd-bus:Director1 2015-11-01 2016-10-31 03655623 uk-gaap-cd-bus:Director2 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 iso4217:GBP shares

Registered Number 03655623

UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED

Abbreviated Accounts

31 October 2016

UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED Registered Number 03655623

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,050	1,249
		1,050	1,249
Current assets
Debtors		309	1,056
Cash at bank and in hand		1,532	500
		1,841	1,556
Creditors: amounts falling due within one year		(55,063)	(49,883)
Net current assets (liabilities)		(53,222)	(48,327)
Total assets less current liabilities		(52,172)	(47,078)
Total net assets (liabilities)		(52,172)	(47,078)
Capital and reserves
Called up share capital	3	122	122
Profit and loss account		(52,294)	(47,200)
Shareholders' funds		(52,172)	(47,078)

For the year ending 31 October 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 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 25 August 2017

And signed on their behalf by:
JASON HUGHES, Director

UNION D. ENERGY SYSTEMS DEVELOPMENT CORPORATION LIMITED Registered Number 03655623

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible assets depreciation policy
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:

Fixtures & Fittings - 15% on the reducing balance
Motor Vehicles - 25% on the reducing balance

Other accounting policies
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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 November 2015	31,873
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2016	31,873
Depreciation
At 1 November 2015	30,624
Charge for the year	199
On disposals	-
At 31 October 2016	30,823
Net book values
At 31 October 2016	1,050
At 31 October 2015	1,249

All fixed assets are initially recorded at cost.

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £61 each	122	122

The share capital comprises 1,000 shares of 100 $ each. Each share has been converted to sterling at a rate of 100$=£61.

ULTIMATE PARENT COMPANY

The ultimate holding company is Union D.Energy Systems Development Corporation, a company incorporated in the British Virgin Islands.