REGISTERED NUMBER: 04300468 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

Comtek Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G E Dixon

M A Grossman

SECRETARY:

G E Dixon

REGISTERED OFFICE:

St Helens Way

Thetford

Norfolk

IP24 1HG

REGISTERED NUMBER:

04300468 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

The Beeches

30 Bridge Street

Thetford

Norfolk

IP24 3AG

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

35,238

33,571

35,238

33,571

CURRENT ASSETS

Stocks

267,042

146,315

Debtors

210,329

141,726

Cash at bank and in hand

25,288

23,001

502,659

311,042

CREDITORS

Amounts falling due within one year

4

385,524

151,916

NET CURRENT ASSETS

117,135

159,126

TOTAL ASSETS LESS CURRENT LIABILITIES

152,373

192,697

CREDITORS

Amounts falling due after more than one year

4

(11,772

)

(4,282

)

PROVISIONS FOR LIABILITIES

(6,031

)

(4,075

)

NET ASSETS

134,570

184,340

CAPITAL AND RESERVES

Called up share capital

5

50

50

Profit and loss account

134,520

184,290

SHAREHOLDERS' FUNDS

134,570

184,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 31 March 2017 and were signed on its behalf by:

G E Dixon - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

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

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less it's estimated residual value, over the

useful economic life of that asset as follows;

Goodwill - over 5 years

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

-

25% on reducing balance, 5 years straight line, 4 years straight line and 3 years straight line

Fixtures and fittings

-

25% on reducing balance, 4 years straight line and 3 years straight line

Motor vehicles

-

4 years straight line and 3 years straight line

Stocks

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

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

3,500

AMORTISATION

At 1 August 2015

and 31 July 2016

3,500

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

239,268

Additions

30,089

Disposals

(17,389

)

At 31 July 2016

251,968

DEPRECIATION

At 1 August 2015

205,697

Charge for year

25,522

Eliminated on disposal

(14,489

)

At 31 July 2016

216,730

NET BOOK VALUE

At 31 July 2016

35,238

At 31 July 2015

33,571

4.

CREDITORS

Creditors include an amount of £ 78,543 (2015 - £ 45,774 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

50

Ordinary

£1

50

50

6.	ULTIMATE PARENT COMPANY

Comtek Holdings (UK) Limited is regarded by the directors as being the company's ultimate parent company.