Si Plan Electronics Research Limited - Period Ending 2016-03-31

Si Plan Electronics Research Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016

Guard Doyly
Chartered Accountants
4 Mansell Street
Stratford-upon-Avon
Warwickshire
CV37 6NR

Si Plan Electronics Research Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Si Plan Electronics Research Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Si Plan Electronics Research Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Si Plan Electronics Research Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Si Plan Electronics Research Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Si Plan Electronics Research Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Si Plan Electronics Research Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Si Plan Electronics Research Limited. You consider that Si Plan Electronics Research Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Si Plan Electronics Research Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Guard Doyly
Chartered Accountants
4 Mansell Street
Stratford-upon-Avon
Warwickshire
CV37 6NR

19 December 2016

Page 1

Si Plan Electronics Research Limited
(Registration number: 1362444)
Abbreviated Balance Sheet at 31 March 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		628,387	661,697
Investments		4,585	4,585
		632,972	666,282
Current assets
Stocks		60,400	182,185
Debtors		78,048	60,369
Cash at bank and in hand		3,785,491	3,439,456
		3,923,939	3,682,010
Creditors: Amounts falling due within one year		(210,888)	(338,281)
Net current assets		3,713,051	3,343,729
Net assets		4,346,023	4,010,011
Capital and reserves
Called up share capital	4	10,000	10,000
Profit and loss account		4,336,023	4,000,011
Shareholders' funds		4,346,023	4,010,011

For the year ending 31 March 2016 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 19 December 2016 and signed on its behalf by:

.........................................
M Bollons
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Si Plan Electronics Research Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life.

Asset class	Depreciation method and rate
Land and Buildings	Straight line over the life of the lease
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Research and development

Research and development expenditure is written off as incurred.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Si Plan Electronics Research Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 1 April 2015	1,623,655	4,585	1,628,240
At 31 March 2016	1,623,655	4,585	1,628,240
Depreciation
At 1 April 2015	961,958	-	961,958
Charge for the year	33,310	-	33,310
At 31 March 2016	995,268	-	995,268
Net book value
At 31 March 2016	628,387	4,585	632,972
At 31 March 2015	661,697	4,585	666,282

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

2016
£

2015
£

4	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary of £1 each		10,000	10,000		10,000	10,000

Page 4