Invek Surveys Limited - Limited company - abbreviated

REGISTERED NUMBER: 02819149 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2014

FOR

INVEK SURVEYS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

K Nash

SECRETARY:

R V Nash

REGISTERED OFFICE:

Unit X8A,

Warrington Business Park

Long Lane

Warrington

Cheshire

WA2 8TX

REGISTERED NUMBER:

02819149 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

2

73,070

60,532

CURRENT ASSETS

Debtors

119,377

153,148

Cash at bank

7,373

2,432

126,750

155,580

CREDITORS

Amounts falling due within one year

3

76,755

78,545

NET CURRENT ASSETS

49,995

77,035

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,065

137,567

CREDITORS

Amounts falling due after more than one
year

3

(10,416

)

(14,238

)

PROVISIONS FOR LIABILITIES

(14,368

)

(12,107

)

NET ASSETS

98,281

111,222

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

98,181

111,122

SHAREHOLDERS' FUNDS

98,281

111,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 December 2014 and were signed by:

K Nash - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These accounts have been prepared on the Going Concern basis. This is because there are no

material uncertainties that may cast significant doubt about the Company's ability to continue as a

Going Concern. The Director had also continued to support the business and there are no indications

that the bank will withdraw the overdraft.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred taxation is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date, where transactions or events result in an obligation to pay more

taxation in the future, or the right to pay less taxation in the future. It is measured at the average tax

rates that are expected to apply in the period in which the timing differences are expected to reverse,

and is based on tax rates and law that have been enacted or substantively enacted at the balance

sheet date. Deferred tax assets are recognised only to the extent that it is considered more likely than

not that there will be taxable profits from which the future reversal of the underlying timing differences

can be deducted. Deferred tax assets and liabilities have not been discounted.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

154,980

Additions

40,876

At 30 April 2014

195,856

DEPRECIATION

At 1 May 2013

94,448

Charge for year

28,338

At 30 April 2014

122,786

NET BOOK VALUE

At 30 April 2014

73,070

At 30 April 2013

60,532

3.

CREDITORS

Creditors include an amount of £ 29,238 (2013 - £ 28,810 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2014 and

30 April 2013:

2014

2013

£

K Nash

Balance outstanding at start of year

12,296

11,536

Amounts advanced

86,402

78,460

Amounts repaid

(44,618

)

(77,700

)

Balance outstanding at end of year

54,080

12,296

Interest accrues on overdrawn balances at HM Revenue & Customs interest rates and there is no

specified repayment date. Interest was charged on the loan in the year was £1,301 (2013: £467).