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  ERCL LIMITED
         
         
  ABBREVIATED UNAUDITED ACCOUNTS
         
         
  FOR THE PERIOD ENDED 31 DECEMBER 2014
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
  INDEX TO THE ACCOUNTS
         
 
         
  Pages
         
  1 Abbreviated Balance Sheet    
         
  2-3 Notes to the Abbreviated Accounts    
         
 
         
         
       
       
       
       
       
       
  ERCL LIMITED
  Company registered number: 08743541
  ABBREVIATED BALANCE SHEET
  AT 31 December 2014
         
    Note 2014
      £ £
  FIXED ASSETS
  Tangible Assets 2 29,041
         
         
  CURRENT ASSETS
  Debtors falling due within one year   1,212,753
  Cash at bank and in hand   643,047
      1,855,800
  CREDITORS: Amounts falling due within one year   919,439
  NET CURRENT ASSETS   936,361
  NET ASSETS   £965,402
       
  CAPITAL AND RESERVES
  Called up share capital 3 10,000
  Profit and loss account   955,402
  SHAREHOLDERS' FUNDS   £965,402
       
         
  In approving these financial statements as directors of the company we hereby confirm the following:
  For the period in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
         
  Directors' responsibilities:
  1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476,
  2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
         
  The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
         
  These abbreviated accounts were approved by the board of directors on 15 July 2015
 
 
         
  W H Edwards, Director
   
  The notes on pages 2 to 3 form part of these accounts
  page 1
  NOTES TO THE ABBREVIATED ACCOUNTS
  FOR THE PERIOD ENDED 31 DECEMBER 2014
     
 
1. ACCOUNTING POLICIES
     
     
1a. Basis of accounting
     
  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).
         
         
1b. Tangible fixed assets
         
  Fixed assets are shown at historical cost.
         
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
         
         
  Office equipment Straight line 25%    
  Software Straight line 33%    
     
     
1c. Taxation
     
  Corporation tax payable is provided on taxable profits at the current rate.
     
     
     
1d. Pensions
     
  The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in the period.
     
     
1e. Foreign currency
     
  Transactions denominated in foreign currencies are recorded in the local currency at mid month exchange rates as at the date of the transaction.
     
     
1f. Turnover
     
  Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.
  page 2
  ERCL LIMITED
  NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 31 DECEMBER 2014
     
     
2. TANGIBLE FIXED ASSETS 2014
    £
  Cost
     
  Additions 41,247
  At 31 December 2014 41,247
   
  Depreciation
     
  For the period 12,206
  At 31 December 2014 12,206
   
  Net Book Amounts
     
  At 31 December 2014 £29,041
   
     
     
3. SHARE CAPITAL 2014
    £
  Allotted, issued and fully paid:
     
  10000 Ordinary shares of £1 each £10,000
   
     
     
4. RELATED PARTIES
     
  Directors' material interests:
Edwards Resource Consulting Ltd controlled by W H Edwards, a director, made supplies during the period to the value of £463,389 and £134,368 was included in creditors as at 31 December 2014
Irons Geophysical Ltd controlled by C Irons, a director, made supplies during the period to the value of £163,522 and £19,737 was included in creditors as at 31 December 2014
Darnoc Ltd controlled by S Lawrence, a director, made supplies during the period to the value of £68,961 and £17,977 was included in creditors as at 31 December 2014
     
  Significant Shareholdings:
SAER Ltd a company incorporated in the UK holds 30% of the ordinary share capital.
  page 3