Id Systems Uk Limited - Limited company - abbreviated

REGISTERED NUMBER: SC230161 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

FOR

ID SYSTEMS UK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr I Doherty

REGISTERED OFFICE:

Morley House

West Mains Industrial Estate

West Mains Road

Grangemouth

Stirlingshire

FK3 8YE

REGISTERED NUMBER:

SC230161 (Scotland)

ACCOUNTANTS:

Macfarlane Gray

part of French Duncan LLP

Chartered Accountants

Macfarlane Gray House

Castlecraig Business Park

Springbank Road

Stirling

Stirlingshire

FK7 7WT

FIXED ASSETS

Tangible assets

2

137,662

148,665

Investments

3

2

137,664

148,667

CURRENT ASSETS

Stocks

617,426

657,023

Debtors

1,094,896

761,355

Cash at bank

310,567

578,204

2,022,889

1,996,582

CREDITORS

Amounts falling due within one year

(1,568,986

)

(1,575,528

)

NET CURRENT ASSETS

453,903

421,054

TOTAL ASSETS LESS CURRENT
LIABILITIES

591,567

569,721

PROVISIONS FOR LIABILITIES

(16,848

)

(10,227

)

NET ASSETS

574,719

559,494

CAPITAL AND RESERVES

Called up share capital

4

10

Profit and loss account

574,709

559,484

SHAREHOLDERS' FUNDS

574,719

559,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 10 December 2014 and were signed by:

Mr I Doherty - 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).

Preparation of consolidated financial statements

The financial statements contain information about Id Systems Uk Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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.

Leasehold improvements

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

239,865

Additions

25,942

At 30 April 2014

265,807

DEPRECIATION

At 1 May 2013

91,200

Charge for year

36,945

At 30 April 2014

128,145

NET BOOK VALUE

At 30 April 2014

137,662

At 30 April 2013

148,665

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

and 30 April 2014

2

NET BOOK VALUE

At 30 April 2014

2

At 30 April 2013

2

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

10

Ordinary

£1

10

5.	PENSION SCHEMES

The company operates a defined contribution pension scheme. The pension costs charge for the year represents

contributions payable by the company to the scheme and amounted to £15,036 (2013 - £67,226).

Id Systems Uk Limited - Limited company - abbreviated - 11.6

Id Systems Uk Limited - Limited company - abbreviated - 11.6