Registered number
07326763
Subsystim Ltd
Abbreviated unaudited financial statements
31 July 2015
Subsystim Ltd
Registered number: 07326763
Abbreviated Balance Sheet
as at 31 July 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 3,811 4,918
Current assets
Stocks 6,863 5,803
Debtors 94,087 59,780
Cash at bank and in hand 8,020 16,191
108,970 81,774
Creditors: amounts falling due within one year (37,291) (24,759)
Net current assets 71,679 57,015
Total assets less current liabilities 75,490 61,933
Provisions for liabilities (984) (984)
Net assets 74,506 60,949
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 74,505 60,948
Shareholder's funds 74,506 60,949
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 R N Brady
Director
Approved by the board on 05.10.2016
Subsystim Ltd
Notes to the Abbreviated unaudited financial statements
for the year ended 31 July 2015
1 Accounting policies
Basis of preparation
The unaudited 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 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.
Office equipment 25% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
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.
2 Tangible fixed assets £
Cost
At 1 August 2014 8,315
Additions 1,773
Disposals (1,266)
At 31 July 2015 8,822
Depreciation
At 1 August 2014 3,397
Charge for the year 2,205
On disposals (591)
At 31 July 2015 5,011
Net book value
At 31 July 2015 3,811
At 31 July 2014 4,918
3 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary share £1 each 1 1 1
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