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NORTHEY TECHNOLOGIES LTD.




Company Registration Number:
03162480 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st April 2009

End date: 31st March 2010

SUBMITTED

NORTHEY TECHNOLOGIES LTD.

Company Information
for the Period Ended
31st March 2010




Director: B J Whicher
Company secretary: A J Whicher
Registered office: NORTECH HOUSE 34-35 Dawkins Road
Poole
Dorset
BH15 4JY
Company Registration Number: 03162480 (England and Wales)

NORTHEY TECHNOLOGIES LTD.

Abbreviated Balance sheet
As at 31st March 2010

Notes 2010
£
2009
£
Fixed assets
Tangible assets: 4 137,458 106,926
Total fixed assets: 137,458 106,926
Current assets
Stocks: 410,952 339,580
Debtors: 5 652,778 615,237
Cash at bank and in hand: 13,374 18,476
Total current assets: 1,077,104 973,293
Creditors
Creditors: amounts falling due within one year 6 814,467 801,149
Net current assets (liabilities): 262,637 172,144
Total assets less current liabilities: 400,095 279,070
Creditors: amounts falling due after more than one year: 7 235,961 120,341
Total net assets (liabilities): 164,134 158,729

The notes form part of these financial statements

NORTHEY TECHNOLOGIES LTD.

Abbreviated Balance sheet
As at 31st March 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 10 20,000 20,000
Revaluation reserve: 41,978 41,978
Profit and Loss account: 102,156 96,751
Total shareholders funds: 164,134 158,729

For the year ending 31 March 2010 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 04 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: B J Whicher
Status: Director

The notes form part of these financial statements

NORTHEY TECHNOLOGIES LTD.

Notes to the Abbreviated Accounts
for the Period Ended
31st March 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements 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 net invoiced sales of goods, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - 10% on cost Plant and machinery - 10% on cost Tools, patterns and jigs - 10% on cost Motor vehicles - 25% on cost Computer equipment - 25% on cost

    Other accounting policies

    Stocks Stock and work in progress 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 expenditure and an appropriate proportion of fixed and variable overheads. 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. Rentals paid under operating leases are charged to the profit and loss account as incurred. Long term contracts Long term contracts are assessed on a contract-by-contract basis, and reflected in the profit and loss account by recording turnover and related costs as the contract activity progresses. The calculated attributable profit is recognised in the profit and loss account as the difference between reported turnover and related costs incurred. The excess of payments on account received and receivable over reported turnover is disclosed in creditors falling due within one year.

  • 4. Tangible assets

    Total
    Cost £
    At 01st April 2009: 317,353
    Additions: 50,879
    Disposals: 26,804
    At 31st March 2010: 341,428
    Depreciation
    At 01st April 2009: 210,427
    Charge for year: 20,347
    On disposals: 26,804
    At 31st March 2010: 203,970
    Net book value
    At 31st March 2010: 137,458
    At 31st March 2009: 106,926

  • 5. Debtors

    2010
    £
    2009
    £
    Trade debtors: 562,761 575,539
    Other debtors: 87,708 23,776
    Prepayments and accrued income: 2,309 15,922
    Total: 652,778 615,237

  • 6. Creditors: amounts falling due within one year

    2010
    £
    2009
    £
    Bank loans and overdrafts: 227,354 168,771
    Amounts due under finance leases and hire purchase contracts: 9,393 7,211
    Trade creditors: 458,022 230,279
    Taxation and social security: 85,616 102,620
    Accruals and deferred income: 4,082 262,268
    Other creditors: 30,000 30,000
    Total: 814,467 801,149

  • 7. Creditors: amounts falling due after more than one year

    2010
    £
    2009
    £
    Amounts due under finance leases and hire purchase contracts: 10,435 18,842
    Other creditors: 225,526 101,499
    Total: 235,961 120,341

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 20,000 1 20,000
    Total share capital: 20,000
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 20,000 1 20,000
    Total share capital: 20,000
  • 13. Related party disclosures

    Name of the ultimate controlling party during the period: B J Whicher
    Name of related party: Northey Ltd
    Relationship: Common Ownership
    Description of the transaction: Loan
    Balance at 01st April 2009 0
    Balance at 31st March 2010 55,619