MICROLEC_LIMITED - Accounts

MICROLEC LIMITED - Company Information

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Company Registration No. 01967766 (England and Wales)

MICROLEC LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

MICROLEC LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MICROLEC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

12,836

13,287

Current assets

Debtors

1,867

3,374

Cash at bank and in hand

1,514

3,729

3,381

7,103

Creditors: amounts falling due within one year

(34,616)

(41,239)

Net current liabilities

(31,235)

(34,136)

Total assets less current liabilities

(18,399)

(20,849)

Capital and reserves

Called up share capital

100

Profit and loss account

(18,499)

(20,949)

Shareholders' funds

(18,399)

(20,849)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 October 2016

Mr M A Judge

Director

Company Registration No. 01967766

MICROLEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has net liabilities of £18,399 at 31 December 2015 which comprises mainly of amounts owed to its directors (see note 12). The directors have confirmed that they do not expect to withdraw this support in the foreseeable and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% straight line

Fixtures, fittings & equipment

25% and 33% straight line

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

22,699

Depreciation

At 1 January 2015

9,412

Charge for the year

451

At 31 December 2015

9,863

Net book value

At 31 December 2015

12,836

At 31 December 2014

13,287

MICROLEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 ordinary shares of £1 each

100