Ashwood Computer Solutions Ltd - Period Ending 2014-03-31

Registration number: 04392936

Ashwood Computer Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Bibstone Limited
Chartered Certified Accountants
Bibstone House
Bibstone
Wotton-under-Edge
Glos
GL12 8AD

Ashwood Computer Solutions Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ashwood Computer Solutions Ltd
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ashwood Computer Solutions Ltd for the year ended 31 March 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Ashwood Computer Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ashwood Computer Solutions Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ashwood Computer Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ashwood Computer Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ashwood Computer Solutions Ltd. You consider that Ashwood Computer Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ashwood Computer Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bibstone Limited
Chartered Certified Accountants
Bibstone House
Bibstone
Wotton-under-Edge
Glos
GL12 8AD

22 December 2014

Page 1

Ashwood Computer Solutions Ltd
(Registration number: 04392936)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,100			1,148
Current assets
Stocks					500			500
Debtors					26,056			31,785
Cash at bank and in hand					41,488			27,947
					68,044			60,232
Creditors: Amounts falling due within one year					(18,514)			(19,088)
Net current assets					49,530			41,144
Net assets					51,630			42,292
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					51,629			42,291
Shareholders' funds					51,630			42,292

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 22 December 2014 and signed on its behalf by:

.........................................
Mr K D Eastwood
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Ashwood Computer Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,
over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Fixtures and fittings	25% reducing balance basis
Office equipment	33% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Ashwood Computer Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		3,000			17,206			20,206
Additions		-			1,725			1,725
At 31 March 2014		3,000			18,931			21,931
Depreciation
At 1 April 2013		3,000			16,058			19,058
Charge for the year		-			773			773
At 31 March 2014		3,000			16,831			19,831
Net book value
At 31 March 2014		-			2,100			2,100
At 31 March 2013		-			1,148			1,148

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr K D Eastwood
Director's loan account, 2% interest payable	-	-	-	485

Page 4