Registered Number 04131438
ALARM SYSTEMS GREATER MIDLANDS LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 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 assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 15% on written down value
Motor vehicles - 25% on written down value
Intangible assets amortisation policy
Goodwill - 10% on a straight line basis
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
The company's basis for accounting for deferred tax is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Deferred tax is recognised at the anticipated rates in respect of timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets and liabilities are not discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Amortisation | |
At 1 April 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 0 |
At 31 March 2015 | 1,500 |
£ | |
---|---|
Cost | |
At 1 April 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2016 |
|
Depreciation | |
At 1 April 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 March 2016 |
|
Net book values | |
At 31 March 2016 | 33,035 |
At 31 March 2015 | 30,397 |