Surface Control Limited - Abbreviated accounts 16.3
Surface Control Limited - Abbreviated accounts 16.3
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
FOR |
SURFACE CONTROL LIMITED |
SURFACE CONTROL LIMITED (REGISTERED NUMBER: 05788464) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Accountants' Report | 6 |
SURFACE CONTROL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants and Financial Advisors |
SURFACE CONTROL LIMITED (REGISTERED NUMBER: 05788464) |
ABBREVIATED BALANCE SHEET |
31 MARCH 2016 |
31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Share premium |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
SURFACE CONTROL LIMITED (REGISTERED NUMBER: 05788464) |
ABBREVIATED BALANCE SHEET - continued |
31 MARCH 2016 |
The financial statements were approved by the Board of Directors on by: |
SURFACE CONTROL LIMITED (REGISTERED NUMBER: 05788464) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company meets its ongoing working capital requirements through the provision of loans by a participating |
shareholder. The directors have received written undertakings from that shareholder, confirming that additional |
funds will be made available to assist the ongoing working capital requirements of the company, and that no |
request for any material repayment of these loans will be made until there are adequate financial resources |
available to do so. |
The company has also successfully applied for government grants to assist the funding of its research and |
development projects, and the directors will continue to secure further applications where possible. |
On the basis of the undertakings provided, the directors consider that it is appropriate to prepare the financial |
statements on the going concern basis. Consequently, they do not include any adjustments that would results |
from the withdrawal of the financial support referred to above. |
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. |
Research and development expenditure |
The company is developing a service for measuring and monitoring floor surfaces and all costs directly |
attributable to this project to date have been capitalised. The company has successfully applied for government |
grants to assist the funding of this development work, and amounts received have been offset directly against the |
capitalised costs. The net project costs to date have been carried forward and will be written off against future |
revenue derived from it. |
The directors have undertaken to review this policy each year, having full regard to the progress of the project |
and the likely economic outcome of same. |
Tangible fixed assets |
Plant and machinery etc | - |
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 material timing differences that have originated but not reversed at the |
balance sheet date. |
Government grants |
Government grants received to assist the funding of specific project expenditure, are offset directly against those |
attributable costs. |
SURFACE CONTROL LIMITED (REGISTERED NUMBER: 05788464) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
NET BOOK VALUE |
At 31 March 2016 |
At 31 March 2015 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
DEPRECIATION |
At 1 April 2015 |
Charge for year |
At 31 March 2016 |
NET BOOK VALUE |
At 31 March 2016 |
At 31 March 2015 |
Depreciation of tangible plant and equipment is provided at 10% per annum on the reducing balance method. |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
ORDINARY | 1p |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SURFACE CONTROL LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Surface Control Limited for the year ended 31 March 2016 which comprise the Profit and Loss |
Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Surface Control Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Surface Control Limited and state those matters that we have agreed to state to the Board of Directors of Surface Control Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Surface Control Limited Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Surface Control Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Surface Control Limited. You consider that Surface Control Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Surface Control Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Accountants and Financial Advisors |
12 December 2016 |