Company Registration No. 8343634 (England and Wales)
Avastec Ltd
Abbreviated unaudited accounts
for the year ended 31 December 2015
Avastec Ltd
Abbreviated Balance Sheet
as at
31 December 2015
Intangible assets
4,200
6,300
Tangible assets
160
1,387
Cash at bank and in hand
29,433
27,973
Creditors: amounts falling due within one year
(51,047)
(37,280)
Net current liabilities
(3,014)
(7,556)
Called up share capital
2
2
Profit and loss account
1,344
129
Total shareholders' funds
1,346
131
For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 27 May 2016
Stephen Taylor
Director
Company Registration No. 8343634
Avastec Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% straight line
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
2
Intangible fixed assets
Goodwill
At 31 December 2015
10,500
Charge for the year
2,100
At 31 December 2015
6,300
At 31 December 2015
4,200
At 31 December 2014
6,300
Goodwill is being written off in equal annual instalments overs its estimated economic life of 5 years.
Avastec Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
At 1 January 2015
292
3,549
3,841
At 31 December 2015
292
3,549
3,841
At 1 January 2015
88
2,366
2,454
Charge for the year
44
1,183
1,227
At 31 December 2015
132
3,549
3,681
At 31 December 2015
160
-
160
At 31 December 2014
204
1,183
1,387
4
Share capital
2015
2014
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2