Edu-Chem Limited,Ltd - Accounts

Edu-Chem Limited,Ltd - Accounts

EDU-CHEM LTD - Company Information

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2014-11-01 true false Private Limited Company 06502406 2015-10-31 06502406 2014-11-01 2015-10-31 06502406 2014-10-31 06502406 2013-11-01 2014-10-31 06502406 uk-bus:Director1 2014-11-01 2015-10-31 06502406 uk-gaap:Buildings 2014-11-01 2015-10-31 06502406 uk-gaap:PlantMachinery 2014-11-01 2015-10-31 06502406 uk-gaap:ComputerEquipment 2014-11-01 2015-10-31 06502406 uk-gaap:MotorCars 2014-11-01 2015-10-31 06502406 uk-gaap:FixturesFittings 2014-11-01 2015-10-31 06502406 uk-gaap:WithinOneYear 2015-10-31 06502406 uk-gaap:WithinOneYear 2014-10-31 06502406 uk-gaap:AfterOneYear 2015-10-31 06502406 uk-gaap:AfterOneYear 2014-10-31 06502406 uk-bus:OrdinaryShareClass1 2015-10-31 06502406 uk-bus:Director1 2015-10-31 iso4217:GBP
Edu-Chem Limited
For the year ended 31 October 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06502406
2
Contents Page
Edu-Chem Limited
For the year ended 31 October 2015
1
Accountants' Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
3
Edu-Chem Limited
Accountants' Report
For the year ended 31 October 2015
As described in the balance sheet you are responsible for the preparation of the financial statements for the year
ended 31 October 2015 and you consider that the company is exempt from an audit under the Companies Act
2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
John Fallows Accountants Ltd
Certified Practising Accountants
13 Lyndhurst Rd
Burnley
Lancashire
BB10 4ED
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4
Abbreviated Balance Sheet
Edu-Chem Limited
As at 31 October 2015
06502406
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
206,565
217,357
206,565
217,357
Current assets
Stocks
254,423
229,815
Debtors
416,401
485,976
Cash at bank and in hand
55,374
26,671
771,165
697,495
Creditors: amounts falling due within one year
3
(291,286)
(248,703)
406,209
522,462
Net current assets
Total assets less current liabilities
729,027
623,566
Creditors: amounts falling due after more than one year
4
(114,490)
(95,493)
633,534
Net assets
509,076
Capital and reserves
Called up share capital
2
5
2
Profit and loss account
633,532
509,074
633,534
509,076
Shareholders funds
For the year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his 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.
Date approved by the board: 28 July 2016
Robin Lonsdale Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
Edu-Chem Limited
For the year ended 31 October 2015
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, exclusive of Value Added Tax and net of trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Pension Costs
The company operates a defined contribution pension scheme for the benefit of its directors/and employees.
Contributions payable are charged to the profit and loss account in the period in which they are payable.
Foreign currency
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate 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 foreign exchange differences are included to the profit and loss account.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
4% Straight line
Plant and Machinery
20% Straight line
Computer Equipment
20% Straight line
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6
Notes to the Abbreviated Financial Statements
Edu-Chem Limited
For the year ended 31 October 2015
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the
factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the
proceeds received from the factor.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
269,357
At 01 November 2014
15,904
Additions
(6,650)
Disposals
At 31 October 2015
278,611
Depreciation
52,000
At 01 November 2014
(1,663)
Disposals
21,709
Charge for year
72,046
At 31 October 2015
Net book values
At 31 October 2015
206,565
217,357
At 31 October 2014
2015
3 Creditors: amounts falling due within one year
£
£
2014
9,444
-
Bank loans and overdrafts (secured)
2014
2015
4 Creditors due after more than one year
£
£
95,074
110,780
Bank loans and overdrafts (secured)
419
3,710
Bank loans and overdraft
95,493
114,490
5 Share capital
Allotted called up and fully paid
2015
2014
£
£
2 Ordinary shares of £1.00 each
2
2
2
2
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7
Notes to the Abbreviated Financial Statements
Edu-Chem Limited
For the year ended 31 October 2015
6 Loan to Directors
At 01/11/2014
Loaned
Repaid
At 31/10/2015
Interest
£
£
£
£
£
Robin Lonsdale
Current Account
-
39,709
-
40,583
874
-
39,709
-
40,583
874
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