Company Registration No. 08303822 (England and Wales)
AIROWLITE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
AIROWLITE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
AIROWLITE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
90,181
42,252
Cash at bank and in hand
-
1,928
90,181
44,180
Creditors: amounts falling due within one year
(86,520)
(42,408)
Total assets less current liabilities
3,661
1,772
Capital and reserves
Called up share capital
2
3
3
Profit and loss account
3,658
1,769
Shareholder's funds
3,661
1,772
For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 21 May 2015
Mr R Wilkinson
Director
Company Registration No. 08303822
AIROWLITE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 2 -
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.
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3 Ordinary shares of £1 each
3
3
3
Related party relationships and transactions
Related party trading transactions
During the year, sales of £140,922 were made to Airowtech Electrical Distributors Limited. The sales were on an arm's length basis and normal credit terms applied and the amount was paid within those terms. During the year, purchases of £78,169 were made from Airowtech Electrical Distributors Limited. The purchases were on an arm's length basis and normal credit terms applied and the amount was paid within those terms. Management fees were paid to Airowtech Electrical Distributors Limited amounting to £9,000 during the year, for mangerial and administrative assistance with the operation of the company. Airowtech Electrical Distributors Limited is a related party by virtue of Mr R Wilkinson being a director and shareholder.