Company Registration No. 06688892 (England and Wales)
NORTHANTS FLUID POWER LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
NORTHANTS FLUID POWER LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NORTHANTS FLUID POWER LTD
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
30 June 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
5,000
Tangible assets
2
32,196
27,033
32,196
32,033
Current assets
Stocks
50,657
53,490
Debtors
151,463
143,777
Cash at bank and in hand
51,756
56,618
253,876
253,885
Creditors: amounts falling due within one year
(105,855)
(128,811)
Net current assets
148,021
125,074
Total assets less current liabilities
180,217
157,107
Creditors: amounts falling due after more than one year
(10,507)
(11,051)
169,710
146,056
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
169,708
146,054
Shareholders' funds
169,710
146,056
NORTHANTS FLUID POWER LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2015
30 June 2015
- 2 -
For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 March 2016
Mr N P Mead
Director
Company Registration No. 06688892
NORTHANTS FLUID POWER LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
NORTHANTS FLUID POWER LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2014
15,000
53,337
68,337
Additions
-
28,594
28,594
Disposals
-
(28,513)
(28,513)
At 30 June 2015
15,000
53,418
68,418
Depreciation
At 1 July 2014
10,000
26,305
36,305
On disposals
-
(16,484)
(16,484)
Charge for the year
5,000
11,401
16,401
At 30 June 2015
15,000
21,222
36,222
Net book value
At 30 June 2015
-
32,196
32,196
At 30 June 2014
5,000
27,033
32,033
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2