REGISTERED NUMBER: 07193866 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

FOR

ACCELERATED SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A C Draghia-Ucrain

Mrs A M Lock

J C Lock

SECRETARY:

PP Secretaries Limited

REGISTERED OFFICE:

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

REGISTERED NUMBER:

07193866 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Tangible assets

4

640

1,047

CURRENT ASSETS

Debtors

5

53,647

94,157

Cash at bank and in hand

186

816

53,833

94,973

CREDITORS

Amounts falling due within one year

6

45,994

78,350

NET CURRENT ASSETS

7,839

16,623

TOTAL ASSETS LESS CURRENT LIABILITIES

8,479

17,670

PROVISIONS FOR LIABILITIES

7

122

-

NET ASSETS

8,357

17,670

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

8,347

17,660

SHAREHOLDERS' FUNDS

8,357

17,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9th November 2017 and were signed on its behalf by:

Mrs A M Lock - Director

1.	STATUTORY INFORMATION

Accelerated Systems Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements have had to be made by the directors in preparing these financial

statements.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property

and equipment, are reviewed to determine whether there is an indication that an asset may be

impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group

of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated

and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the

asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit

or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2016

2,635

1,859

4,494

Additions

28

-

28

At 31st March 2017

2,663

1,859

4,522

DEPRECIATION

At 1st April 2016

1,820

1,627

3,447

Charge for year

231

204

435

At 31st March 2017

2,051

1,831

3,882

NET BOOK VALUE

At 31st March 2017

612

28

640

At 31st March 2016

815

232

1,047

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

53,647

94,157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

614

7,413

Trade creditors

20,190

42,787

Tax

13,961

14,031

Social security and other taxes

1,270

1,275

VAT

5,073

5,235

Other creditors

3,286

6,009

Accruals and deferred income

1,600

1,600

45,994

78,350

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

122

-

Deferred

tax

£

Provided during year

122

Balance at 31st March 2017

122

8.	FIRST YEAR ADOPTION

The company adopted the provisions of Section 1A "Small Entities" of Financial Reporting Standard

102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" with effect from

1st April 2015. There have been no transitional adjustments as a result of the adoption.