ASGUK (Systems) Limited - Limited company - abbreviated

REGISTERED NUMBER: 04601991 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2014

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

-

Tangible assets

3

26,034

28,911

26,034

28,911

CURRENT ASSETS

Stocks

25,530

Debtors

139,364

139,385

Cash at bank and in hand

29,803

35,661

194,697

200,576

CREDITORS

Amounts falling due within one year

4

128,398

189,860

NET CURRENT ASSETS

66,299

10,716

TOTAL ASSETS LESS CURRENT
LIABILITIES

92,333

39,627

CREDITORS

Amounts falling due after more than one
year

4

22,500

38,735

NET ASSETS

69,833

892

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

69,733

792

SHAREHOLDERS' FUNDS

69,833

892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2014 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 15 January 2015 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 April 2008).

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 2013

and 30 November 2014

7,700

AMORTISATION

At 1 December 2013

and 30 November 2014

7,700

NET BOOK VALUE

At 30 November 2014

-

At 30 November 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

78,789

Additions

6,161

At 30 November 2014

84,950

DEPRECIATION

At 1 December 2013

49,878

Charge for year

9,038

At 30 November 2014

58,916

NET BOOK VALUE

At 30 November 2014

26,034

At 30 November 2013

28,911

4.

CREDITORS

Creditors include an amount of £ 32,500 (2013 - £ 42,500 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

85

Ordinary

£1

85

15

Ordinary A

£1

15

100

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S M Roberts.

ASGUK (Systems) Limited - Limited company - abbreviated - 11.6

ASGUK (Systems) Limited - Limited company - abbreviated - 11.6