Warwick International Comp. Systems Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02877208 (England and Wales)

WARWICK INTERNATIONAL COMPUTING

SYSTEMS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTOR:

Mr M A Barton

SECRETARY:

Mr S Barton ACA

REGISTERED OFFICE:

Warwick House

Woodhouse Road

Horsley Woodhouse

DERBY

DE7 6AY

REGISTERED NUMBER:

02877208 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

2

317,693

298,711

Investment property

3

231,858

-

549,551

298,711

CURRENT ASSETS

Debtors

248,149

262,152

Cash at bank and in hand

2,062,409

1,925,747

2,310,558

2,187,899

CREDITORS

Amounts falling due within one year

4

1,341,400

1,360,895

NET CURRENT ASSETS

969,158

827,004

TOTAL ASSETS LESS CURRENT LIABILITIES

1,518,709

1,125,715

CREDITORS

Amounts falling due after more than one year

4

(37,530

)

(50,707

)

PROVISIONS FOR LIABILITIES

(11,126

)

(9,583

)

NET ASSETS

1,470,053

1,065,425

CAPITAL AND RESERVES

Called up share capital

5

501

501

Capital redemption reserve

499

499

Profit and loss account

1,469,053

1,064,425

SHAREHOLDERS' FUNDS

1,470,053

1,065,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 26 November 2015 and were signed by:

Mr M A Barton - 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).

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.

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance and 20% on cost

Computer equipment

-

33% on cost

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the

annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal,

on an individual investment property is expected to be permanent, in which case it is recognised in

the profit and loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

which, unlike the Companies Act 2006, does not require depreciation of investment properties.

Investment properties are held for their investment potential and not for use of the company and so

their current value is of prime importance. The departure from the provisions of the Act is required in

order to give a true and fair view.

Deferred tax

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

the balance sheet date.

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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

548,934

Additions

41,289

At 31 May 2015

590,223

DEPRECIATION

At 1 June 2014

250,223

Charge for year

22,307

At 31 May 2015

272,530

NET BOOK VALUE

At 31 May 2015

317,693

At 31 May 2014

298,711

3.	INVESTMENT PROPERTY

Total

£

COST

Additions

231,858

At 31 May 2015

231,858

NET BOOK VALUE

At 31 May 2015

231,858

4.

CREDITORS

Creditors include an amount of £ 50,705 (2014 - £ 63,390 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

500

Ordinary

£1

500

500

1

A Share

£1

1

1

501

501

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2015 and

31 May 2014:

2015

2014

£

£

Mr M A Barton

Balance outstanding at start of year

1,275

1,340

Amounts advanced

1,256

1,275

Amounts repaid

(1,275

)

(1,340

)

Balance outstanding at end of year

1,256

1,275

The above advances were interest free, had no fixed repayment terms and were unsecured.