RC Simulations Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07170556 (England and Wales)

RC SIMULATIONS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr R Sidwick

Mrs C Sidwick

REGISTERED OFFICE:

7A Nevill

Street

Abergavenny

NP7 5AA

REGISTERED NUMBER:

07170556 (England and Wales)

ACCOUNTANTS:

Obp chartered accountants

7a Nevill Street

Abergavenny

Monmouthshire

NP7 5AA

FIXED ASSETS

Intangible assets

2

14,808

17,770

Tangible assets

3

340

958

15,148

18,728

CURRENT ASSETS

Stocks

4,000

Debtors

13,934

37,120

Cash at bank

72,817

36,277

90,751

77,397

CREDITORS

Amounts falling due within one year

(43,776

)

(94,964

)

NET CURRENT ASSETS/(LIABILITIES)

46,975

(17,567

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

62,123

1,161

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

62,121

1,159

SHAREHOLDERS' FUNDS

62,123

1,161

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 27 September 2016 and were signed on its behalf
by:

Mrs C Sidwick - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a going concern basis. The directors have assessed the

Company's ability to continue as a going concern and have a reasonable expectation that the Company has

adequate resources to continue in operational existance for the foreseeable future. Thus they continue to adopt

the going concern basis of accounting in preparing these financial statements.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Development costs

Development costs are amortised over 4 years being the estimated economic life of the asset.

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 25% on cost

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

95,617

AMORTISATION

At 1 January 2015

77,847

Amortisation for year

2,962

At 31 December 2015

80,809

NET BOOK VALUE

At 31 December 2015

14,808

At 31 December 2014

17,770

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

4,304

DEPRECIATION

At 1 January 2015

3,346

Charge for year

618

At 31 December 2015

3,964

NET BOOK VALUE

At 31 December 2015

340

At 31 December 2014

958

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

1

Ordinary

£1

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015 and

31 December 2014:

31.12.15

31.12.14

£

Mr R Sidwick and Mrs C Sidwick

Balance outstanding at start of year

36,370

14,948

Amounts advanced

54,540

54,622

Amounts repaid

(77,728

)

(33,200

)

Balance outstanding at end of year

13,182

36,370