Micro-entity Accounts - FIRST SYSTEMS LIMITED

FIRST SYSTEMS LIMITED - Company Information

Registered Number 09913967

FIRST SYSTEMS LIMITED

Micro-entity Accounts

31 December 2016

FIRST SYSTEMS LIMITED Registered Number 09913967

Micro-entity Balance Sheet as at 31 December 2016

	Notes	2016
		£
Fixed assets
Intangible assets	1	144,000
Tangible assets	2	81
		144,081
Current assets
Debtors		417
Cash at bank and in hand		32,586
		33,003
Creditors: amounts falling due within one year		(1,658)
Net current assets (liabilities)		31,345
Total assets less current liabilities		175,426
Creditors: amounts falling due after more than one year		(219,668)
Provisions for liabilities		(28,816)
Total net assets (liabilities)		(73,058)
Capital and reserves
Called up share capital		1
Profit and loss account		(73,059)
Shareholders' funds		(73,058)

For the year ending 31 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 May 2017

And signed on their behalf by:
Sharon Clarke, Director
Leeann Forster, Director

FIRST SYSTEMS LIMITED Registered Number 09913967

Notes to the Micro-entity Accounts for the period ended 31 December 2016

1Intangible fixed assets

	£
Cost
Additions	160,000
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2016	160,000
Amortisation
Charge for the year	16,000
On disposals	-
At 31 December 2016	16,000
Net book values
At 31 December 2016	144,000

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software 10 years

2Tangible fixed assets

	£
Cost
Additions	108
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2016	108
Depreciation
Charge for the year	27
On disposals	-
At 31 December 2016	27
Net book values
At 31 December 2016	81

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 25% reducing balance