Associate Computer Services Ltd.
|
For the year ended 31 May 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03308108
Associate Computer Services Ltd.
For the year ended 31 May 2015
1
Accountant's Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
Accountant's Report
For the year ended 31 May 2015
Associate Computer Services Ltd.
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the accounts of
|
Associate Computer Services Ltd
.
for the year ended
31
May
2015
which comprise the Profit and Loss Account
,
the
|
Balance Sheet and the related notes from the company
'
s accounting records and from information and explanations you
|
have given us
.
|
As a practising member of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
|
professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of Associate Computer Services Ltd
.
,
as a body
,
in accordance with the
|
terms of our engagement letter dated
19
March
2008
.
Our work has been undertaken solely to prepare for your approval the
|
accounts of Associate Computer Services Ltd
.
and state those matters that we have agreed to state to the Board of
|
Directors of Associate Computer Services Ltd
.
,
as a body
,
in this report in accordance with the requirements of the
|
Association of Chartered Certified Accountants and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest
|
extent permitted by law
,
we do not accept or assume responsibility to anyone other than Associate Computer Services Ltd
.
|
and its Board of Directors as a body for our work or for this report
.
|
It is your duty to ensure that Associate Computer Services Ltd
.
has kept adequate accounting records and to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Associate Computer
|
Services Ltd
..
You consider that Associate Computer Services Ltd
.
is exempt from the statutory audit requirement for the
|
year
.
|
A J Lilley FCCA
Tudor House Mews
Westgate
Grantham
Lincs
NG31 6LU
18 December 2015
1 of 5
Abbreviated Balance Sheet
|
Associate Computer Services Ltd.
2015
2014
2
2,841
3,551
3
2
2,400
2,843
5,951
2,500
2,500
40,884
63,562
1,397
-
67,459
43,384
Creditors
:
amounts falling due within one year
|
4
(50,714)
(65,078)
(7,330)
2,381
Net current assets
Total assets less current liabilities
|
5,224
(1,379)
(782)
(782)
Provisions for liabilities
|
4,442
Net assets/liabilities
(2,161)
6
5
6
4,436
(2,167)
4,442
(2,161)
Shareholders funds
For the year ended 31 May 2015 the company was entitled to exemption from audit 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 of 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
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
|
Date approved by the board: 11 December 2015
|
Mr Chris Chambers Director
|
Signed on behalf of the board of directors
|
2 of 5
Notes to the Abbreviated Financial Statements
|
For the year ended 31 May 2015
Associate Computer Services Ltd.
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
|
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
The company operates a defined contribution pension scheme for the benefit of its directors
/
and employees
.
Contributions
|
payable are charged to the profit and loss account in the period in which they are payable
.
|
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
|
shareholders prior to the balance sheet date
.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated
|
expected useful economic life of the goodwill of
20
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Motor Vehicles
3 of 5
Notes to the Abbreviated Financial Statements
|
For the year ended 31 May 2015
Associate Computer Services Ltd.
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and rewards of
|
ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets and depreciated over
|
the shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
2
Intangible fixed assets
|
14,200
14,200
10,649
710
Charge for year
11,359
2,841
3,551
31,921
(9,583)
22,338
29,521
(7,185)
22,336
2
2,400
2015
4
Creditors
:
amounts falling due within one year
|
2014
8,911
11,676
Bank loans and overdrafts (secured)
4 of 5
Notes to the Abbreviated Financial Statements
|
For the year ended 31 May 2015
Associate Computer Services Ltd.
Allotted called up and fully paid
|
2015
2014
6
Class A shares of £
1
.
00
each
|
6
6
6
6
5 of 5