Abbreviated Company Accounts - REEL IT WINDING MACHINES LIMITED

Abbreviated Company Accounts - REEL IT WINDING MACHINES LIMITED

REEL IT WINDING MACHINES LIMITED - Company Information

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Registered Number 08014538

REEL IT WINDING MACHINES LIMITED

Abbreviated Accounts

31 March 2014

REEL IT WINDING MACHINES LIMITED Registered Number 08014538

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 22,490 25,301
Tangible assets 3 12,364 12,749
34,854 38,050
Current assets
Stocks 15,924 5,236
Debtors 1,476 26,879
Cash at bank and in hand 5,844 7,073
23,244 39,188
Creditors: amounts falling due within one year (41,371) (64,270)
Net current assets (liabilities) (18,127) (25,082)
Total assets less current liabilities 16,727 12,968
Creditors: amounts falling due after more than one year (8,864) (12,346)
Total net assets (liabilities) 7,863 622
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,763 522
Shareholders' funds 7,863 622
  • For the year ending 31 March 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 12 December 2014

And signed on their behalf by:
Mr M Twigg, Director

REEL IT WINDING MACHINES LIMITED Registered Number 08014538

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

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

Turnover policy
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.

Tangible assets depreciation policy
Motor vehicles 25% reducing balance
Equipment 20% straight line

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its useful economic life of 10 years.

Other accounting policies
Stocks
Stock is stated at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 April 2013 28,112
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 28,112
Amortisation
At 1 April 2013 2,811
Charge for the year 2,811
On disposals -
At 31 March 2014 5,622
Net book values
At 31 March 2014 22,490
At 31 March 2013 25,301
3Tangible fixed assets
£
Cost
At 1 April 2013 16,891
Additions 3,503
Disposals -
Revaluations -
Transfers -
At 31 March 2014 20,394
Depreciation
At 1 April 2013 4,142
Charge for the year 3,888
On disposals -
At 31 March 2014 8,030
Net book values
At 31 March 2014 12,364
At 31 March 2013 12,749