Abbreviated Company Accounts - CLIMATEC SYSTEMS LIMITED
Abbreviated Company Accounts - CLIMATEC SYSTEMS LIMITED
Registered Number 01648233
CLIMATEC SYSTEMS LIMITED
Abbreviated Accounts
30 June 2014
CLIMATEC SYSTEMS LIMITED Registered Number 01648233
Abbreviated Balance Sheet as at 30 June 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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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 (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
CLIMATEC SYSTEMS LIMITED Registered Number 01648233
Notes to the Abbreviated Accounts for the period ended 30 June 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Asset class Depreciation method and rate
Land and buildings - freehold 2% straight line basis
Plant and machinery 15% & 25% reducing balance basis
Motor vehicles 25% reducing balance basis
Other accounting policies
Current asset investments are included at the lower of cost and net realisable value.
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates enacted at the balance sheet date.
£ | |
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Cost | |
At 1 July 2013 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 30 June 2014 |
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Depreciation | |
At 1 July 2013 |
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Charge for the year |
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On disposals |
( |
At 30 June 2014 |
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Net book values | |
At 30 June 2014 | 201,507 |
At 30 June 2013 | 132,966 |