REGISTERED NUMBER:
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Computer Magnetics Limited |
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Abbreviated Unaudited Accounts |
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For The Year Ended 31 March 2016 |
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REGISTERED NUMBER:
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Computer Magnetics Limited |
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Abbreviated Unaudited Accounts |
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For The Year Ended 31 March 2016 |
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Computer Magnetics Limited (Registered number: 02232950) |
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Contents of the Abbreviated Accounts |
For The Year Ended 31 March 2016 |
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Page |
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Abbreviated Balance Sheet | 1 |
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Notes to the Abbreviated Accounts | 2 |
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Report of the Accountants | 4 |
Computer Magnetics Limited (Registered number: 02232950) |
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Abbreviated Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Capital redemption reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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The financial statements were approved by the director on
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Computer Magnetics Limited (Registered number: 02232950) |
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Notes to the Abbreviated Accounts |
For The Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting policies |
The following accounting policies have been used consistently in dealing with items which are considered |
material in relation to the company's accounts. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of the company's long leasehold property and in accordance with the Financial Reporting Standard for Smaller |
Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
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The company's long leasehold investment property is valued by the directors annually and shown in the accounts |
at valuation. Effect has been given to the increase on cost through the investment revaluation reserve in |
accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). It is considered |
that this treatment results in the accounts giving a true and fair view although it represents a departure from the |
specific legal requirement to provide depreciation on all fixed assets having a limited useful economic life. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Computer Magnetics Limited (Registered number: 02232950) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
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Additions |
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Disposals | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 April 2015 |
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Revaluations |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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Computer Magnetics Limited |
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Report of the Accountants to the Director of |
Computer Magnetics Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages one to three) |
have been prepared. |
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As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2016 set out on pages three to nine and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Our report may not be relied upon by any other person for any other purpose whatsoever. |
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Roddis Taylor Robinson neither owes or accepts any duty to any other party and shall not be liable for any loss, damage |
or expense caused by their reliance on these accounts. |
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Chartered Accountants |
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12 December 2016 |