Integrated Satellite Applications Technologies Limited - Abbreviated accounts

INTEGRATED SATELLITE APPLICATIONS TECHNOLOGIES LIMITED - Company Information

Registered number

07587638

Integrated Satellite Applications Technologies Limited

Abbreviated Accounts

31 March 2014

Integrated Satellite Applications Technologies Limited
Registered number:		07587638
Abbreviated Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Fixed assets
Investments	2		100			100

Current assets
Debtors		404,931			404,931


Net current assets			404,931			404,931

Net assets			405,031			405,031

Capital and reserves
Called up share capital	3		436			436
Share premium			404,595			404,595

Shareholders' funds			405,031			405,031

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr K R Cawood
Director
Approved by the board on 24 December 2014

Integrated Satellite Applications Technologies Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Motor vehicles			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Investments					£

	Cost
	At 1 April 2013					100

	At 31 March 2014					100

3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		436		436