Company Registration No. 08175284 (England and Wales)
ADDISON ELECTRICAL (SUFFOLK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
LB GROUP
7 Hydra, Orion Court
Addison Way
Great Blakenham
Ipswich
Suffolk
UK
IP6 0LW
ADDISON ELECTRICAL (SUFFOLK) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ADDISON ELECTRICAL (SUFFOLK) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
16,400
17,425
Tangible assets
2
5,495
5,963
21,895
23,388
Current assets
Stocks
15,145
13,768
Debtors
36,432
30,756
Cash at bank and in hand
44,810
53,586
96,387
98,110
Creditors: amounts falling due within one year
(43,809)
(61,633)
Net current assets
52,578
36,477
Total assets less current liabilities
74,473
59,865
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
74,373
59,765
Shareholders'  funds
74,473
59,865
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 for issue on 13 February 2017
Mr A Hunter
Mr A Thorpe
Director
Director
Company Registration No. 08175284
ADDISON ELECTRICAL (SUFFOLK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
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
Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years. of 20 years.

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:
Plant and machinery
15% reducing balance
Computer equipment
25% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.6
Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

ADDISON ELECTRICAL (SUFFOLK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2015
20,500
10,983
31,483
Additions
-
1,199
1,199
At 31 August 2016
20,500
12,182
32,682
Depreciation
At 1 September 2015
3,075
5,020
8,097
Charge for the year
1,025
1,665
2,690
At 31 August 2016
4,100
6,687
10,787
Net book value
At 31 August 2016
16,400
5,495
21,895
At 31 August 2015
17,425
5,963
23,388
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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