Registered number
07326763
Subsystim Ltd
Abbreviated unaudited financial statements
31 July 2016
Subsystim Ltd
Registered number: 07326763
Abbreviated Balance Sheet
as at 31 July 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,139 3,811
Current assets
Stocks 6,509 6,863
Debtors 37,918 94,087
Cash at bank and in hand 1,595 8,020
46,022 108,970
Creditors: amounts falling due within one year (45,198) (37,291)
Net current assets 824 71,679
Total assets less current liabilities 1,963 75,490
Provisions for liabilities (984) (984)
Net assets 979 74,506
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 978 74,505
Shareholder's funds 979 74,506
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 31 May 2017
Subsystim Ltd
Notes to the Abbreviated unaudited financial statements
for the year ended 31 July 2016
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 January 2015).
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 2015 8,822
Disposals (3,390)
At 31 July 2016 5,432
Depreciation
At 1 August 2015 5,011
Charge for the year 1,888
On disposals (2,606)
At 31 July 2016 4,293
Net book value
At 31 July 2016 1,139
At 31 July 2015 3,811
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary share £1 each 1 1 1
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