1 Office Equipment Limited
Registered number
SC137429
Abbreviated Accounts
31 March 2016
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 2016
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 2016 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
4 Valentine Court
Dundee Business Park
Dundee
DD2 3QB
18 November 2016
1 Office Equipment Limited
Registered number: SC137429
Abbreviated Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 21,726 62,160
Current assets
Stocks 21,062 21,240
Debtors 156,621 156,522
Cash at bank and in hand 206,044 226,968
383,727 404,730
Creditors: amounts falling due within one year (271,040) (188,441)
Net current assets 112,687 216,289
Net assets 134,413 278,449
Capital and reserves
Called up share capital 3 1,302 1,302
Profit and loss account 133,111 277,147
Shareholders' funds 134,413 278,449
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 18 November 2016
1 Office Equipment Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
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 2015 136,668
Disposals (17,963)
At 31 March 2016 118,705
Depreciation
At 1 April 2015 74,508
Charge for the year 22,471
At 31 March 2016 96,979
Net book value
At 31 March 2016 21,726
At 31 March 2015 62,160
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,002 1,002 1,002
A Preference shares £1 each 100 100 100
B Preference shares £1 each 100 100 100
C Preference shares £1 each 100 100 100
1,302 1,302
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