Controlstar Systems Ltd. - Abbreviated accounts 16.1

REGISTERED NUMBER: 03655184 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

CONTROLSTAR SYSTEMS LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Smith

F C Lyon

REGISTERED OFFICE:

Cagthorpe Hall

Cagthorpe

Horncastle

Lincolnshire

LN9 6DZ

REGISTERED NUMBER:

03655184 (England and Wales)

ACCOUNTANTS:

Russell Payne & Co Limited

Landmark House

1 Riseholme Road

Lincoln

Lincolnshire

LN1 3SN

FIXED ASSETS

Tangible assets

2

5,930

6,759

CURRENT ASSETS

Stocks

57,531

55,304

Debtors

10,241

47,327

Cash at bank and in hand

5,258

124

73,030

102,755

CREDITORS

Amounts falling due within one year

31,594

83,601

NET CURRENT ASSETS

41,436

19,154

TOTAL ASSETS LESS CURRENT
LIABILITIES

47,366

25,913

CREDITORS

Amounts falling due after more than one
year

-

(7,777

)

PROVISIONS FOR LIABILITIES

(613

)

(654

)

NET ASSETS

46,753

17,482

CAPITAL AND RESERVES

Called up share capital

3

6,100

Profit and loss account

40,653

11,382

SHAREHOLDERS' FUNDS

46,753

17,482

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 20 May 2016 and were signed on its behalf by:

R Smith - 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 January 2015).

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.

Plant and machinery etc

-

20% 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.

Deferred tax

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

sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

143,303

Additions

654

At 31 December 2015

143,957

DEPRECIATION

At 1 January 2015

136,544

Charge for year

1,483

At 31 December 2015

138,027

NET BOOK VALUE

At 31 December 2015

5,930

At 31 December 2014

6,759

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

6,100

Ordinary

1

6,100