Registered Number NI038043

AC AUTOMATION (U.K.) LIMITED

Abbreviated Accounts

31 March 2014

AC AUTOMATION (U.K.) LIMITED Registered Number NI038043

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 5,182 5,465
Tangible assets 3 169,568 209,037
Investments 4 452,132 388,195
626,882 602,697
Current assets
Stocks 39,684 39,241
Debtors 398,971 194,162
Cash at bank and in hand 53,931 30,339
492,586 263,742
Creditors: amounts falling due within one year (431,075) (239,021)
Net current assets (liabilities) 61,511 24,721
Total assets less current liabilities 688,393 627,418
Creditors: amounts falling due after more than one year (918) (3,787)
Total net assets (liabilities) 687,475 623,631
Capital and reserves
Called up share capital 5 60,000 60,000
Profit and loss account 627,475 563,631
Shareholders' funds 687,475 623,631
  • For the year ending 31 March 2014 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 23 October 2014

And signed on their behalf by:
Gary Callaghan, Director

AC AUTOMATION (U.K.) LIMITED Registered Number NI038043

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
Short leasehold property - 5% Straight line
Plant and machinery - 25% Reducing Balance
Fixtures, fittings and equipment - 15% Reducing Balance
Motor vehicles - 25% Reducing Balance
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Other accounting policies
Leasing
Tangible fixed assets held under leasing arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the balance sheet at their cost or valuation, less
depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the profit and loss account. Rentals payable under operating leases are dealt with in the profit and loss account as incurred over the period of the rental agreement.

Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Transactions, during the year, which are denominated in foreign currencies are translated at the rates of exchange ruling at the date of the transaction. The resulting exchange differences are dealt with in the profit
and loss account.

Licences
Licences are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 20 years.

2Intangible fixed assets
£
Cost
At 1 April 2013 5,653
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 5,653
Amortisation
At 1 April 2013 188
Charge for the year 283
On disposals -
At 31 March 2014 471
Net book values
At 31 March 2014 5,182
At 31 March 2013 5,465
3Tangible fixed assets
£
Cost
At 1 April 2013 715,690
Additions 15,978
Disposals (19,360)
Revaluations -
Transfers -
At 31 March 2014 712,308
Depreciation
At 1 April 2013 506,653
Charge for the year 47,308
On disposals (11,221)
At 31 March 2014 542,740
Net book values
At 31 March 2014 169,568
At 31 March 2013 209,037

4Fixed assets Investments
Investments
Cost
At 1 April 2013: £388,195
Additions: £63,937
At 31 March 2014: £452,132

Net book value
At 31 March 2014: £452,132
At 31 March 2013: £388.195

5Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
60,000 Ordinary shares of £1 each 60,000 60,000