SBM Digital Systems Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03625299 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

FOR

SBM DIGITAL SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A Davies

Mrs C Davies

SECRETARY:

Mrs C Davies

REGISTERED OFFICE:

Sutton Hall Farm

Sutton Maddock

Shifnal

Shropshire

TF11 9NQ

REGISTERED NUMBER:

03625299 (England and Wales)

ACCOUNTANTS:

Stanton Ralph & Co Limited

Chartered Accountants

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

FIXED ASSETS

709

Tangible assets

2

11,286

CURRENT ASSETS

17,197

Stocks

19,300

104,674

Debtors

145,916

10

Cash at bank and in hand

101

121,881

165,317

CREDITORS

101,718

Amounts falling due within one year

149,934

20,163

NET CURRENT ASSETS

15,383

20,872

TOTAL ASSETS LESS CURRENT LIABILITIES

26,669

CREDITORS

(11,170

)

Amounts falling due after more than one year

(10,568

)

(142

)

PROVISIONS FOR LIABILITIES

(192

)

9,560

NET ASSETS

15,909

CAPITAL AND RESERVES

150

Called up share capital

3

150

9,410

Profit and loss account

15,759

9,560

SHAREHOLDERS' FUNDS

15,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 15th July 2014 and were signed on its behalf by:

Mr A Davies - 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 April 2008).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Operating leases

Operating lease rentals are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

13,133

Additions

12,590

At 31st March 2014

25,723

DEPRECIATION

At 1st April 2013

12,424

Charge for year

2,013

At 31st March 2014

14,437

NET BOOK VALUE

At 31st March 2014

11,286

At 31st March 2013

709

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

150

Ordinary

£1

150

150

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2014 and

31st March 2013:

31.3.14

31.3.13

£

£

Mr A Davies and Mrs C Davies

Balance outstanding at start of year

60,920

75,812

Amounts advanced

83,159

63,558

Amounts repaid

(55,206

)

(78,450

)

Balance outstanding at end of year

88,873

60,920

No interest is charged.