ACCELERATOR_SOLUTIONS_LTD - Accounts
ACCELERATOR_SOLUTIONS_LTD - Accounts
Company Registration No. 04123923 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(252,764 )
(156,774 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(893 )
(972 )
178,982
89,450
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 22 August 2014
Director
Company Registration No. 04123923
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Revenue recognition
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2013
37,259
Additions
5,008
Disposals
(1,738)
At 31 December 2013
40,529
Depreciation
At 1 January 2013
30,654
On disposals
(1,456)
Charge for the year
4,053
At 31 December 2013
33,251
Net book value
At 31 December 2013
7,278
At 31 December 2012
6,605
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid