REGISTERED NUMBER: 04116785 (England and Wales)

ALLDAY TIME SYSTEMS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R S Mason

Mrs J Mason

P S Mason

C M Mason

SECRETARY:

Mrs J Mason

REGISTERED OFFICE:

Lynchford House

Lynchford Lane

FARNBOROUGH

Hampshire

GU14 6JD

REGISTERED NUMBER:

04116785 (England and Wales)

ACCOUNTANTS:

HPCA Limited

Chartered Accountants

Station House

Connaught Road

Brookwood

Woking

Surrey

GU24 0ER

FIXED ASSETS

Intangible assets

2

577,863

683,098

Tangible assets

3

191,703

203,906

Investments

4

2

2

769,568

887,006

CURRENT ASSETS

Stocks

49,119

54,226

Debtors

346,658

309,375

Cash at bank and in hand

83,656

35,508

479,433

399,109

CREDITORS

Amounts falling due within one year

525,476

483,896

NET CURRENT LIABILITIES

(46,043

)

(84,787

)

TOTAL ASSETS LESS CURRENT LIABILITIES

723,525

802,219

CREDITORS

Amounts falling due after more than one year

(76,244

)

(222,232

)

PROVISIONS FOR LIABILITIES

(10,191

)

(10,928

)

NET ASSETS

637,090

569,059

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Profit and loss account

636,090

568,059

SHAREHOLDERS' FUNDS

637,090

569,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 December 2015 and were signed on its behalf by:

C M Mason - Director

Mrs J Mason - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised only over the period of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2004, 2005, 2009, 2010,

2011, 2012 and 2014 is being written off evenly over its estimated useful economic life of ten years.

Computer software

Computer software developed by third parties is capitalised and written off over it's estimated useful economic

life of 10 years.

Tangible fixed assets

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

Fixtures & equipment

-

15% on reducing balance

Rental equipment

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

1,158,698

AMORTISATION

At 1 April 2014

475,600

Amortisation for year

105,235

At 31 March 2015

580,835

NET BOOK VALUE

At 31 March 2015

577,863

At 31 March 2014

683,098

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

498,722

Additions

49,110

Disposals

(713

)

At 31 March 2015

547,119

DEPRECIATION

At 1 April 2014

294,816

Charge for year

61,313

Eliminated on disposal

(713

)

At 31 March 2015

355,416

NET BOOK VALUE

At 31 March 2015

191,703

At 31 March 2014

203,906

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

and 31 March 2015

187,307

PROVISIONS

At 1 April 2014

and 31 March 2015

187,305

NET BOOK VALUE

At 31 March 2015

2

At 31 March 2014

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Staffordshire & Midlands Time Recorders Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

£

Aggregate capital and reserves

1

1

Quick Clocks Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

£

Aggregate capital and reserves

1

1

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

1,000

1,000

6.	RELATED PARTY DISCLOSURES

During the year the company had the following transactions with Allday Time Systems, a partnership in which R

S Mason and Mrs J Mason are the joint partners:-

£

£

2015

2014

Rent paid

48,000

43,500

Consultancy fees paid

12,000

15,000

At the balance sheet date, trade creditors includes £15,000 (2014: £7,500) due to Allday Time Systems.

At the balance sheet date there was a liability of £151,244 (2014: £297,232) representing the outstanding balance

due to the partners of Allday Time Systems arising from the sale of the clock rental business and no additional

loans (2014:£70,000). During the year the partners from Allday Time Systems did not advance any funds

(2014:£70,000) and were repaid £145,988 (2014: £54,722). No further adjustments were made (in 2014 the

balance was reduced by £163,000 as the basis of the calculation of goodwill was reconsidered).

Allday Time Systems owns the freehold property from which the company trades.

All transactions are carried out at arms length and at market value.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.