80:20 Systems Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04215380 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

80:20 Systems Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Simons

Mrs M Simons

SECRETARY:

D Simons

REGISTERED OFFICE:

7, Stuart Road

Warlingham

Surrey

CR6 9JH

REGISTERED NUMBER:

04215380 (England and Wales)

ACCOUNTANTS:

Accord Accountants

132 Winchester Road

Chansler's Ford

Eastleigh

Hampshire

SO53 2DS

FIXED ASSETS

Tangible assets

2

6,161

4,492

CURRENT ASSETS

Debtors

20,774

7,432

Cash at bank

60,819

90,420

81,593

97,852

CREDITORS

Amounts falling due within one year

22,718

26,968

NET CURRENT ASSETS

58,875

70,884

TOTAL ASSETS LESS CURRENT LIABILITIES

65,036

75,376

CAPITAL AND RESERVES

Called up share capital

3

13

2

Profit and loss account

65,023

75,374

SHAREHOLDERS' FUNDS

65,036

75,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 28 July 2016 and were signed on its behalf by:

D Simons - 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 services, 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

-

33% on reducing balance and 15% on reducing balance

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

10,405

Additions

4,196

At 31 May 2016

14,601

DEPRECIATION

At 1 June 2015

5,913

Charge for year

2,527

At 31 May 2016

8,440

NET BOOK VALUE

At 31 May 2016

6,161

At 31 May 2015

4,492

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

£

2

Ordinary

1

13

2