Registered Number 04192916

ENDOTEC LIMITED

Abbreviated Accounts

31 December 2015

ENDOTEC LIMITED Registered Number 04192916

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 155,578 135,830
Investments 3 353,056 353,056
508,634 488,886
Current assets
Stocks 11,400 14,295
Debtors 327,913 332,541
Cash at bank and in hand 4,179 5,753
343,492 352,589
Creditors: amounts falling due within one year 4 (743,451) (662,175)
Net current assets (liabilities) (399,959) (309,586)
Total assets less current liabilities 108,675 179,300
Creditors: amounts falling due after more than one year 4 (75,432) (41,656)
Provisions for liabilities (24,056) (20,683)
Total net assets (liabilities) 9,187 116,961
Capital and reserves
Called up share capital 5 5,000 5,000
Profit and loss account 4,187 111,961
Shareholders' funds 9,187 116,961
  • For the year ending 31 December 2015 the company was entitled to exemption 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 directors acknowledge their 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.

Approved by the Board on 30 September 2016

And signed on their behalf by:
SJ and J Doe, Director
D Schofield, Director

ENDOTEC LIMITED Registered Number 04192916

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant & machinery - 25% Reducing balance
Fixtures & fittings - 25% Reducing balance
Motor vehicles - 25% Reducing balance
Land & buildings - 10% Reducing balance

Other accounting policies
Exemption from preparing group accounts - The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern - The financial statements have been prepared on a going concern basis.

Stock and work in progress - Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax - Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing - Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within
creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions - The company contributes to certain employees personal pension schemes in accordance with statutory automatic enrolment legislation outlined under the the Pensions Act 2008. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2Tangible fixed assets
£
Cost
At 1 January 2015 261,394
Additions 76,020
Disposals (36,020)
Revaluations -
Transfers -
At 31 December 2015 301,394
Depreciation
At 1 January 2015 125,564
Charge for the year 37,533
On disposals (17,281)
At 31 December 2015 145,816
Net book values
At 31 December 2015 155,578
At 31 December 2014 135,830

3Fixed assets Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

MH Pneumatics Limited: 50,000 Ordinary shares (being 100%). Principal Activity: Compressed air specialists. The profit for the financial period of MH Pneumatics Limited was £4,021 and the aggregate amount of capital and reserves at the end of the period was £54,674.

4Creditors
2015
£
2014
£
Secured Debts 178,578 117,357
5Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
5,000 Ordinary shares of £1 each 5,000 5,000