Company Registration No. 5842958 (England and Wales)
NORCOTT INSTRUMENTATION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
NORCOTT INSTRUMENTATION LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3
NORCOTT INSTRUMENTATION LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORCOTT INSTRUMENTATION LIMITED FOR THE YEAR ENDED 30 JUNE 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norcott Instrumentation Limited for the year ended 30 June 2016 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Norcott Instrumentation Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Norcott Instrumentation Limited and state those matters that we have agreed to state to the Board of Directors of Norcott Instrumentation Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norcott Instrumentation Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Norcott Instrumentation Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norcott Instrumentation Limited. You consider that Norcott Instrumentation Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Norcott Instrumentation Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Morris & Co
3 October 2016
Chartered Accountants
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
CH65 9HQ
NORCOTT INSTRUMENTATION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 2 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
5,408
5,408
Debtors
1,542
-
Cash at bank and in hand
2,632
4,218
9,582
9,626
Creditors: amounts falling due within one year
(1,388)
(1,045)
Total assets less current liabilities
8,194
8,581
Creditors: amounts falling due after more than one year
(11,000)
(15,500)
(2,806)
(6,919)
Capital and reserves
Called up share capital
2
29,400
29,400
Profit and loss account
(32,206)
(36,319)
Shareholders' funds
(2,806)
(6,919)
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 3 October 2016
Mrs H Adkins
Mr P Lomas
Director
Director
Company Registration No. 5842958
NORCOTT INSTRUMENTATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company is dependent upon the support of the director P Lomas and his common law partner, whose interests in the company as at 30 June 2016 were £11,000 (2015 - £15,500). The financial statements have been prepared on a going concern basis assuming that this support will be forthcoming.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents the amounts invoiced during the year, exclusive of Value Added Tax.
1.4
Amortisation
Amortisation 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:- 25% straight line
25% straight line
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
29,400 Ordinary of £1 each
29,400
29,400