Company Registration No. 07301471 (England and Wales)
ACEON BATTERY SOLAR TECHNOLOGY LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
ACEON BATTERY SOLAR TECHNOLOGY LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ACEON BATTERY SOLAR TECHNOLOGY LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
355,401
375,122
Tangible assets
2
19,751
10,522
375,152
385,644
Current assets
Stocks
74,587
83,085
Debtors
160,288
146,898
Cash at bank and in hand
25,883
19,199
260,758
249,182
Creditors: amounts falling due within one year
(289,150)
(347,005)
Net current liabilities
(28,392)
(97,823)
Total assets less current liabilities
346,760
287,821
Creditors: amounts falling due after more than one year
(13,982)
(35,035)
Provisions for liabilities
(4,000)
(2,105)
328,778
250,681
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
328,678
250,581
Shareholders' funds
328,778
250,681
ACEON BATTERY SOLAR TECHNOLOGY LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
For the financial year ended 31 August 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 and authorised for issue on 26 April 2017
Mr M A Thompson
Director
Company Registration No. 07301471
ACEON BATTERY SOLAR TECHNOLOGY LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Fixtures, fittings & equipment
20% per annum
Motor vehicles
20% per annum
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.9
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
ACEON BATTERY SOLAR TECHNOLOGY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2015
394,425
23,317
417,742
Additions
-
16,785
16,785
At 31 August 2016
394,425
40,102
434,527
Depreciation
At 1 September 2015
19,303
12,795
32,098
Charge for the year
19,721
7,556
27,277
At 31 August 2016
39,024
20,351
59,375
Net book value
At 31 August 2016
355,401
19,751
375,152
At 31 August 2015
375,122
10,522
385,644
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100