Registered Number 04192916

ENDOTEC LIMITED

Abbreviated Accounts

31 December 2014

ENDOTEC LIMITED Registered Number 04192916

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 135,830 102,505
Investments 3 353,056 353,056
488,886 455,561
Current assets
Stocks 14,295 19,765
Debtors 170,541 198,837
Cash at bank and in hand 5,753 2,440
190,589 221,042
Creditors: amounts falling due within one year 4 (500,175) (529,842)
Net current assets (liabilities) (309,586) (308,800)
Total assets less current liabilities 179,300 146,761
Creditors: amounts falling due after more than one year 4 (41,656) (22,542)
Provisions for liabilities (20,683) (16,164)
Total net assets (liabilities) 116,961 108,055
Capital and reserves
Called up share capital 5 5,000 5,000
Profit and loss account 111,961 103,055
Shareholders' funds 116,961 108,055
  • For the year ending 31 December 2014 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 9 September 2015

And signed on their behalf by:
SJ DOE J DOE, Director
D SCHOFIELD, Director

ENDOTEC LIMITED Registered Number 04192916

Notes to the Abbreviated Accounts for the period ended 31 December 2014

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 April 2008).

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.

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
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.

2Tangible fixed assets
£
Cost
At 1 January 2014 216,000
Additions 80,668
Disposals (35,274)
Revaluations -
Transfers -
At 31 December 2014 261,394
Depreciation
At 1 January 2014 113,495
Charge for the year 31,497
On disposals (19,428)
At 31 December 2014 125,564
Net book values
At 31 December 2014 135,830
At 31 December 2013 102,505

3Fixed assets Investments
Fixed asset 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 - Ordinary shares (being 100%). Principal Activity: Compressed air specialists. The profit for the financial period of MH Pneumatics Limited was £14,121 and the aggregate amount of capital and reserves at the end of the period was £50,653.

4Creditors
2014
£
2013
£
Secured Debts 117,357 148,523
5Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
5,000 Ordinary shares of £1 each 5,000 5,000

6Transactions with directors

Name of director receiving advance or credit: SJ Doe
Description of the transaction: Directors Loan
Balance at 1 January 2014: £ 1,304
Advances or credits made: £ 35,705
Advances or credits repaid: £ 37,009
Balance at 31 December 2014: £ 0

Name of director receiving advance or credit: J Doe
Description of the transaction: Directors Loan
Balance at 1 January 2014: £ 1,304
Advances or credits made: £ 35,705
Advances or credits repaid: £ 37,009
Balance at 31 December 2014: £ 0

No interest is charged in respect of these loans.