1 Office Equipment Limited
Registered number
SC137429
Abbreviated Accounts
31 March 2014
1 Office Equipment Limited
Report to the directors on the preparation of the unaudited abbreviated accounts of 1 Office Equipment Limited for the year ended 31 March 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of 1 Office Equipment Limited for the year ended 31 March 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Accel Business LLP
Chartered Certified Accountants & Registered Auditors
4 Valentine Court
Dundee Business Park
Dundee
DD2 3QB
29 December 2014
1 Office Equipment Limited
Registered number: SC137429
Abbreviated Balance Sheet
as at 31 March 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 64,979 31,823
Current assets
Stocks 42,302 42,922
Debtors 113,201 151,868
Cash at bank and in hand 200,003 129,816
355,506 324,606
Creditors: amounts falling due within one year (259,511) (208,069)
Net current assets 95,995 116,537
Net assets 160,974 148,360
Capital and reserves
Called up share capital 3 1,302 1,002
Profit and loss account 159,672 147,358
Shareholders' funds 160,974 148,360
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Gwendolyn Kidd
Director
Approved by the board on 29 December 2014
1 Office Equipment Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2014
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.
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Fixtures and fittings 15% 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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Tangible fixed assets £
Cost
At 1 April 2013 101,092
Additions 47,659
Disposals (22,358)
At 31 March 2014 126,393
Depreciation
At 1 April 2013 69,269
Charge for the year 8,344
On disposals (16,199)
At 31 March 2014 61,414
Net book value
At 31 March 2014 64,979
At 31 March 2013 31,823
3 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,302 1,302 1,002
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each 300 300
1 Office Equipment Limited SC137429 false true 2013-04-01 2014-03-31 2014-03-31 Gwendolyn Kidd SC137429 uk-bus:OrdinaryShareClass1 2013-03-31 SC137429 2013-04-01 2014-03-31 SC137429 uk-bus:Director40 2013-04-01 2014-03-31 SC137429 uk-gaap:PlantMachinery 2013-04-01 2014-03-31 SC137429 uk-gaap:MotorVehicles 2013-04-01 2014-03-31 SC137429 uk-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 SC137429 2014-03-31 SC137429 uk-bus:OrdinaryShareClass1 2014-03-31 SC137429 2013-03-31 iso4217:GBP xbrli:shares