Registered Number 04192916

ENDOTEC LIMITED

Abbreviated Accounts

31 December 2013

ENDOTEC LIMITED Registered Number 04192916

Abbreviated Balance Sheet as at 31 December 2013

Notes 31/12/2013 31/03/2013
£ £
Fixed assets
Tangible assets 2 102,505 122,053
Investments 3 353,056 353,056
455,561 475,109
Current assets
Stocks 19,765 11,674
Debtors 198,837 236,802
Cash at bank and in hand 2,440 250
221,042 248,726
Creditors: amounts falling due within one year 4 (529,843) (621,885)
Net current assets (liabilities) (308,801) (373,159)
Total assets less current liabilities 146,760 101,950
Creditors: amounts falling due after more than one year 4 (22,542) (97,118)
Provisions for liabilities (16,164) (17,225)
Total net assets (liabilities) 108,054 (12,393)
Capital and reserves
Called up share capital 5 5,000 5,000
Profit and loss account 103,054 (17,393)
Shareholders' funds 108,054 (12,393)
  • For the year ending 31 December 2013 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 7 February 2014

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 2013

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).

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

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 finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. 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 April 2013 215,355
Additions 645
Disposals -
Revaluations -
Transfers -
At 31 December 2013 216,000
Depreciation
At 1 April 2013 93,302
Charge for the year 20,193
On disposals -
At 31 December 2013 113,495
Net book values
At 31 December 2013 102,505
At 31 March 2013 122,053

3Fixed assets Investments
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 is a wholly owned, 100% subsidiary undertaking. The principal activity of the company is that of compressed air specialists.

The profit for the financial period of MH Pneumatics Limited was £18,542 and the aggregate amount of capital and reserves at the end of the period was £36,532.

4Creditors
31/12/2013
£
31/03/2013
£
Secured Debts 110,520 137,711
5Called Up Share Capital
Allotted, called up and fully paid:
31/12/2013
£
31/03/2013
£
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 April 2013: £ 10,703
Advances or credits made: £ 19,073
Advances or credits repaid: £ 29,124
Balance at 31 December 2013: £ 652

Name of director receiving advance or credit: J Doe
Description of the transaction: Directors Loan
Balance at 1 April 2013: £ 10,703
Advances or credits made: £ 19,073
Advances or credits repaid: £ 29,124
Balance at 31 December 2013: £ 652

No interest is charged in respect of these loans