NDS Metering Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05481688 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

NDS METERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr I Nash

REGISTERED OFFICE:

c/o Michael Filiou Plc

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

05481688 (England and Wales)

ACCOUNTANTS:

Michael Filiou Plc

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

4

10,331

11,377

CURRENT ASSETS

Stocks and Working in Progress

5

30,010

103,972

Debtors

6

57,285

47,793

Cash at bank

301,038

286,949

388,333

438,714

CREDITORS

Amounts falling due within one year

7

71,627

87,027

NET CURRENT ASSETS

316,706

351,687

TOTAL ASSETS LESS CURRENT LIABILITIES

327,037

363,064

CREDITORS

Amounts falling due after more than one year

8

-

(420

)

PROVISIONS FOR LIABILITIES

(2,014

)

(2,275

)

NET ASSETS

325,023

360,369

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

324,023

359,369

SHAREHOLDERS' FUNDS

325,023

360,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 June 2018 and were signed by:

Mr I Nash - Director

1.	STATUTORY INFORMATION

NDS Metering Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 October 2015.

The transition to FRS 102 has not resulted in any changes in accounting policies compared to those used

previously.

Turnover

Turnover represents the value , net of value added tax and discounts, of goods provided to customers and work

carried out in respect of services provided to customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Working-in-progress

Working-in-progress have been valued at the lower of cost and estimated selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Motor

Office

& fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2016

9,715

22,754

12,540

45,009

Additions

-

-

2,398

2,398

At 30 September 2017

9,715

22,754

14,938

47,407

DEPRECIATION

At 1 October 2016

6,494

18,110

9,028

33,632

Charge for year

806

1,161

1,477

3,444

At 30 September 2017

7,300

19,271

10,505

37,076

NET BOOK VALUE

At 30 September 2017

2,415

3,483

4,433

10,331

At 30 September 2016

3,221

4,644

3,512

11,377

5.	STOCKS AND WORKING IN PROGRESS

2017

2016

£

£

Work-in-progress

30,010

103,972

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

54,142

45,466

Rent deposit

650

650

Prepayments

2,493

1,677

57,285

47,793

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

420

8,218

Trade creditors

12,519

11,061

Corporation tax

18,387

37,258

Social security and other taxes

1,520

890

VAT

26,812

17,219

Other creditors

1,168

861

Net wages account

6,289

7,305

Pension control

73

-

Director's current accounts

39

35

Accrued expenses

4,400

4,180

71,627

87,027

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

-

420

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr I Nash.

Mr I Nash is considered to be the ultimate controlling party by virtue of the fact that he owns 100% of the issued

share capital.

10.	FIRST YEAR ADOPTION

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional relief:

•

to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of property, plant and equipment;

•

to use a previous GAAP revaluation as deemed cost on an item of property, plant and equipment;

•

not to apply the requirement of paragraph 22.13 in respect of compound financial instruments;

•

not to apply the requirements of paragraphs 34.12E to 34.16A in respect of service concession agreements;

•

to determine existence of leases on basis of existing facts and circumstances.