REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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FOR |
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SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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FOR |
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SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED (REGISTERED NUMBER: NI071545) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 | to | 3 |
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Notes to the Abbreviated Accounts | 4 | to | 5 |
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Accountants' Report | 6 |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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17 Clarendon Road |
Clarendon Dock |
Belfast |
Co. Antrim |
BT1 3BG |
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BANKERS: |
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35 University Road |
Belfast |
Antrim |
BT7 1ND |
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SOLICITORS: |
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Washington House |
14-16 High Street |
Belfast |
Co. Antrim |
BT1 2BS |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED (REGISTERED NUMBER: NI071545) |
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ABBREVIATED BALANCE SHEET |
29 FEBRUARY 2016 |
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29.2.16 | 28.2.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED (REGISTERED NUMBER: NI071545) |
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ABBREVIATED BALANCE SHEET - continued |
29 FEBRUARY 2016 |
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The financial statements were authorised for issue by the Board of Directors on
its behalf by: |
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SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED (REGISTERED NUMBER: NI071545) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The |
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The |
financial statements have been prepared under the historical cost convention. |
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These are the company's first set of financial statements prepared in accordance with FRS 102. The date of |
transition was 1 March 2014. Details of how FRS 102 has affected the reported financial position and |
performance of the company are set out in Note 11. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A. |
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Significant judgements and estimates |
In preparing these financial statements the directors have made the following judgements: |
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Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are |
undertaken regularly by the directors, and especially at the year end date. Factors taken into account include |
historical experience, current market conditions and knowledge of the sector. Amounts identified as |
irrecoverable will be provided against in the relevant period. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - | 20% on reducing balance |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is provided on the liability method to take account of timing differences between the treatment of |
certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is |
accounted for in respect of all material timing differences. Deferred tax assets are recognised only to the extent |
they are regarded as recoverable. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED (REGISTERED NUMBER: NI071545) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2015 |
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Additions |
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At 29 February 2016 |
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DEPRECIATION |
At 1 March 2015 |
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Charge for year |
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At 29 February 2016 |
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NET BOOK VALUE |
At 29 February 2016 |
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At 28 February 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.16 | 28.2.15 |
value: | £ | £ |
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Ordinary | £1 | 200 | 200 |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SOURCE AIRCONDITIONING & |
ELECTRICALSERVICES (NI) LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Source AirConditioning & ElectricalServices (NI) Limited for the year ended 29 February 2016 |
which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related |
notes from the company's accounting records and from information and explanations you have given us. |
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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://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Source AirConditioning & ElectricalServices (NI) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Source AirConditioning & ElectricalServices (NI) Limited and state those matters that we have agreed to state to the Board of Directors of Source AirConditioning & ElectricalServices (NI) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Source AirConditioning & ElectricalServices (NI) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Source AirConditioning & ElectricalServices (NI) Limited. You consider that Source AirConditioning & ElectricalServices (NI) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Source AirConditioning & ElectricalServices (NI) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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17 Clarendon Road |
Clarendon Dock |
Belfast |
Co. Antrim |
BT1 3BG |
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