Registered number
06487748
Norfolk Solar Limited
Abbreviated Accounts
31 March 2013
Norfolk Solar Limited
Registered number: 06487748
Abbreviated Balance Sheet
as at 31 March 2013
Notes 2013 2012
£ £
Fixed assets
Intangible assets 2 50,000 60,000
Tangible assets 3 15,551 13,348
65,551 73,348
Current assets
Stocks 46,501 35,320
Debtors 14,235 20,098
Cash at bank and in hand 41,469 109,297
102,205 164,715
Creditors: amounts falling due within one year (96,290) (94,388)
Net current assets 5,915 70,327
Total assets less current liabilities 71,466 143,675
Provisions for liabilities (2,703) (2,144)
Net assets 68,763 141,531
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 68,663 141,431
Shareholder's funds 68,763 141,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Lee Rose
Director
Approved by the board on 8 May 2013
Norfolk Solar Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2013
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Property improvements 20% straight line
Plant and machinery 15% / 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Intangible fixed assets £
Cost
At 1 April 2012 100,000
At 31 March 2013 100,000
Amortisation
At 1 April 2012 40,000
Provided during the year 10,000
At 31 March 2013 50,000
Net book value
At 31 March 2013 50,000
At 31 March 2012 60,000
3 Tangible fixed assets £
Cost
At 1 April 2012 25,141
Additions 7,170
Disposals (82)
At 31 March 2013 32,229
Depreciation
At 1 April 2012 11,793
Charge for the year 4,921
On disposals (36)
At 31 March 2013 16,678
Net book value
At 31 March 2013 15,551
At 31 March 2012 13,348
4 Share capital Nominal 2013 2013 2012
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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