Company Registration No. 01161004 (England and Wales)
SIMTECH SIMULATION TECHNIQUES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
SIMTECH SIMULATION TECHNIQUES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SIMTECH SIMULATION TECHNIQUES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 FEBRUARY 2016
29 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,726
11,283
Current assets
Stocks
3,500
1,750
Debtors
17,373
18,030
Cash at bank and in hand
33
176
20,906
19,956
Creditors: amounts falling due within one year
(18,176)
(26,398)
Net current assets/(liabilities)
2,730
(6,442)
Total assets less current liabilities
11,456
4,841
Creditors: amounts falling due after more than one year
-
(972)
Provisions for liabilities
(1,661)
(2,153)
9,795
1,716
Capital and reserves
Called up share capital
3
5,000
5,000
Profit and loss account
4,795
(3,284)
Shareholders' funds
9,795
1,716
SIMTECH SIMULATION TECHNIQUES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2016
29 February 2016
- 2 -
For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 14 November 2016
Mr J B Hutton
Director
Company Registration No. 01161004
SIMTECH SIMULATION TECHNIQUES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 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).
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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15 % reducing balance
Fixtures, fittings & equipment
10 % reducing balance
Motor vehicles
25 % reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015 & at 29 February 2016
46,577
Depreciation
At 1 March 2015
35,295
Charge for the year
2,556
At 29 February 2016
37,851
Net book value
At 29 February 2016
8,726
At 28 February 2015
11,283
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
5,000 Ordinary shares of £1 each
5,000
5,000
4
Related party relationships and transactions
SIMTECH SIMULATION TECHNIQUES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2016
4
Related party relationships and transactions
(Continued)
- 4 -
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr J B Hutton - Loan
-
1,596
-
-
327
1,269
1,596
-
-
327
1,269