2015-04-01 true false Private Limited Company 06487748 2016-03-31 06487748 2015-04-01 2016-03-31 06487748 2015-03-31 06487748 2014-04-01 2015-03-31 06487748 uk-bus:Director1 2015-04-01 2016-03-31 06487748 uk-gaap:FixturesFittings 2015-04-01 2016-03-31 06487748 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 06487748 uk-gaap:CommercialMotorVehicles 2015-04-01 2016-03-31 06487748 uk-bus:OrdinaryShareClass1 2016-03-31 iso4217:GBP
Norfolk Solar Limited
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06487748
2
Contents Page
Norfolk Solar Limited
For the year ended 31 March 2016
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
3
Abbreviated Balance Sheet
Norfolk Solar Limited
As at 31 March 2016
06487748
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Intangible assets
2
20,000
30,000
Tangible assets
3
4,311
6,504
24,311
36,504
Current assets
Stocks
21,286
21,742
Debtors
21,117
3,693
Cash at bank and in hand
7,890
21,260
33,325
63,663
Creditors: amounts falling due within one year
(48,955)
(37,659)
14,708
(4,334)
Net current liabilities
Total assets less current liabilities
19,977
51,212
Creditors: amounts falling due after more than one year
(43,315)
(44,411)
(24,434)
Net assets/liabilities
7,897
Capital and reserves
Called up share capital
100
4
100
Profit and loss account
(24,534)
7,797
(24,434)
7,897
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his 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.
Date approved by the board: 27 May 2016
B Sayward Director
Signed on behalf of the board of directors
1 of 3
4
Notes to the Abbreviated Financial Statements
Norfolk Solar Limited
For the year ended 31 March 2016
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the
estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
20% Straight line
Plant and Machinery
15 / 25% Reducing balance
Motor Vehicles
25% Reducing balance
2 of 3
5
Notes to the Abbreviated Financial Statements
Norfolk Solar Limited
For the year ended 31 March 2016
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2 Intangible fixed assets
Cost or valuation
Intangible
fixed assets
£
At 01 April 2015
100,000
100,000
At 31 March 2016
Amortisation
70,000
At 01 April 2015
10,000
Charge for year
80,000
At 31 March 2016
20,000
Net Book Values
At 31 March 2016
30,000
At 31 March 2015
3 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
24,112
At 01 April 2015
(3,736)
Disposals
At 31 March 2016
20,376
Depreciation
17,608
At 01 April 2015
(2,825)
Disposals
1,282
Charge for year
16,065
At 31 March 2016
Net book values
At 31 March 2016
4,311
6,504
At 31 March 2015
4 Share capital
Allotted called up and fully paid
2016
2015
£
£
100 Ordinary shares of £1.00 each
100
100
100
100
3 of 3