I T I (U.K.) Limited - Limited company - abbreviated - 11.6

I T I (U.K.) Limited - Limited company - abbreviated - 11.6

I.T.I. (U.K.) LIMITED - Company Information

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REGISTERED NUMBER: 01812271 (England and Wales)


















Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

I T I (U.K.) Limited

I T I (U.K.) Limited (Registered number: 01812271)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2014




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

I T I (U.K.) Limited (Registered number: 01812271)

Abbreviated Balance Sheet
31 December 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 81 32
Tangible assets 3 2,129 1,299
2,210 1,331

CURRENT ASSETS
Stocks 121,404 117,811
Debtors 117,859 128,808
Cash at bank and in hand 57,379 35,157
296,642 281,776
CREDITORS
Amounts falling due within one year 77,258 48,447
NET CURRENT ASSETS 219,384 233,329
TOTAL ASSETS LESS CURRENT
LIABILITIES
221,594
234,660

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 221,494 234,560
SHAREHOLDERS' FUNDS 221,594 234,660

The notes form part of these abbreviated accounts

Page 1 continued...
I T I (U.K.) Limited (Registered number: 01812271)

Abbreviated Balance Sheet - continued
31 December 2014


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 14 September 2015 and were signed by:





D A Payne - Director


The notes form part of these abbreviated accounts

Page 2
I T I (U.K.) Limited (Registered number: 01812271)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2014

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).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a
small company.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Patents
Patents are valued at cost less accumulated amortisation.
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10
years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014 344
Additions 90
At 31 December 2014 434
AMORTISATION
At 1 January 2014 312
Amortisation for year 41
At 31 December 2014 353
NET BOOK VALUE

At 31 December 2014 81
At 31 December 2013 32

Page 3 continued...
I T I (U.K.) Limited (Registered number: 01812271)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2014

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014 16,360
Additions 1,540
At 31 December 2014 17,900
DEPRECIATION
At 1 January 2014 15,061
Charge for year 710
At 31 December 2014 15,771
NET BOOK VALUE
At 31 December 2014 2,129
At 31 December 2013 1,299

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
100 Ordinary £1 100 100

Page 4