ASGUK (Systems) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04601991 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2016

FOR

ASGUK (SYSTEMS) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr S M Roberts

Corporate Actions Limited

SECRETARY:

Mr S M Roberts

REGISTERED OFFICE:

24 Cecil Avenue

Bournemouth

Dorset

BH8 9EJ

REGISTERED NUMBER:

04601991 (England and Wales)

ACCOUNTANTS:

Hixsons

Chartered Certified Accountants

24 Cecil Avenue

Bournemouth

Dorset

BH8 9EJ

FIXED ASSETS

Intangible assets

2

997

1,973

Tangible assets

3

35,321

31,377

36,318

33,350

CURRENT ASSETS

Stocks

8,083

18,237

Debtors

132,007

135,105

Cash at bank and in hand

7,394

2,324

147,484

155,666

CREDITORS

Amounts falling due within one year

4

108,482

130,644

NET CURRENT ASSETS

39,002

25,022

TOTAL ASSETS LESS CURRENT
LIABILITIES

75,320

58,372

CREDITORS

Amounts falling due after more than one
year

4

19,462

23,557

NET ASSETS

55,858

34,815

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

55,758

34,715

SHAREHOLDERS' FUNDS

55,858

34,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 23 February 2017 and were signed on its behalf
by:

Mr S M Roberts - 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 goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

10,659

AMORTISATION

At 1 December 2015

8,686

Amortisation for year

976

At 30 November 2016

9,662

NET BOOK VALUE

At 30 November 2016

997

At 30 November 2015

1,973

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

102,864

Additions

15,698

At 30 November 2016

118,562

DEPRECIATION

At 1 December 2015

71,487

Charge for year

11,754

At 30 November 2016

83,241

NET BOOK VALUE

At 30 November 2016

35,321

At 30 November 2015

31,377

4.

CREDITORS

Creditors include an amount of £ 12,500 (2015 - £ 22,500 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

85

Ordinary

£1

85

15

Ordinary A

£1

15

100

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S M Roberts.