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Registration number: 4502621

CTP SYSTEMS LIMITED

trading as C T P Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Sudworths Limited
Chartered Accountants
The Ground Floor Offices The Mill House
The Mill Business Park
Maidstone Road
Ashford
Kent
TN26 1AE

 

CTP SYSTEMS LIMITED
trading as C T P Systems Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CTP SYSTEMS LIMITED
trading as C T P Systems Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CTP SYSTEMS LIMITED for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of CTP SYSTEMS LIMITED, as a body, in accordance with the terms of our engagement letterdated 6 March 2009. Our work has been undertaken solely to prepare for your approval the accounts of CTP SYSTEMS LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CTP SYSTEMS LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CTP SYSTEMS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CTP SYSTEMS LIMITED. You consider that CTP SYSTEMS LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CTP SYSTEMS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Sudworths Limited
Chartered Accountants
The Ground Floor Offices The Mill House
The Mill Business Park
Maidstone Road
Ashford
Kent
TN26 1AE

3 May 2016

 

CTP SYSTEMS LIMITED
trading as C T P Systems Limited
(Registration number: 4502621)
Abbreviated Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

42,452

   

56,404

 

Current assets

 

             

Stocks

 

   

2,000

   

2,000

 

Debtors

 

   

96,147

   

45,449

 

Cash at bank and in hand

 

   

30,161

   

59,984

 
   

   

128,308

   

107,433

 

Creditors: Amounts falling due within one year

 

   

(114,640)

   

(113,410)

 

Net current assets/(liabilities)

 

   

13,668

   

(5,977)

 

Total assets less current liabilities

 

   

56,120

   

50,427

 

Provisions for liabilities

 

   

(8,490)

   

(11,280)

 

Net assets

 

   

47,630

   

39,147

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

47,530

   

39,047

 

Shareholders' funds

 

   

47,630

   

39,147

 

For the year ending 31 March 2016 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 3 May 2016 and signed on its behalf by:

.........................................
Mr Christopher Thorpe
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

CTP SYSTEMS LIMITED
trading as C T P Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1

Accounting policies

Basis of preparation

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

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

Depreciation

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:

Asset class

Depreciation method and rate

Leasehold property

over the period of the lease

Fixtures & fittings

25% net book value

Stock

Stock is 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.

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

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

CTP SYSTEMS LIMITED
trading as C T P Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. 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.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

207,232

   

207,232

 

Additions

 

192

   

192

 

At 31 March 2016

 

207,424

   

207,424

 

Depreciation

           

At 1 April 2015

 

150,828

   

150,828

 

Charge for the year

 

14,144

   

14,144

 

At 31 March 2016

 

164,972

   

164,972

 

Net book value

           

At 31 March 2016

 

42,452

   

42,452

 

At 31 March 2015

 

56,404

   

56,404

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

100

   

100

   

100

   

100