First Install Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04338497 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

First Install Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs A V Hague

R J Hague

SECRETARY:

S Parlett

REGISTERED OFFICE:

Voisey & Co

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

REGISTERED NUMBER:

04338497 (England and Wales)

ACCOUNTANTS:

Voisey & Co

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

FIXED ASSETS

Tangible assets

2

72,533

72,217

CURRENT ASSETS

Stocks

20,000

21,500

Debtors

237,896

213,661

Cash at bank and in hand

6,759

202

264,655

235,363

CREDITORS

Amounts falling due within one year

3

312,367

324,665

NET CURRENT LIABILITIES

(47,712

)

(89,302

)

TOTAL ASSETS LESS CURRENT LIABILITIES

24,821

(17,085

)

CREDITORS

Amounts falling due after more than one year

3

(17,880

)

(20,500

)

PROVISIONS FOR LIABILITIES

(1,356

)

(8,935

)

NET ASSETS/(LIABILITIES)

5,585

(46,520

)

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

4,585

(47,520

)

SHAREHOLDERS' FUNDS

5,585

(46,520

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 August 2014 and were signed on its behalf by:

Mrs A V Hague - Director

R J Hague - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

129,566

Additions

48,362

Disposals

(34,070

)

At 31 December 2013

143,858

DEPRECIATION

At 1 January 2013

57,349

Charge for year

48,084

Eliminated on disposal

(34,108

)

At 31 December 2013

71,325

NET BOOK VALUE

At 31 December 2013

72,533

At 31 December 2012

72,217

3.

CREDITORS

Creditors include an amount of £ 36,175 (31.12.12 - £ 58,265 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

1,000

Ordinary Shares

1

1,000

1,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2013 and

31 December 2012:

31.12.13

31.12.12

£

£

Mrs A V Hague

Balance outstanding at start of year

3,749

21,645

Amounts advanced

29,263

24,733

Amounts repaid

(22,521

)

(42,629

)

Balance outstanding at end of year

10,491

3,749

R J Hague

Balance outstanding at start of year

3,428

-

Amounts advanced

2,622

4,166

Amounts repaid

(700

)

(738

)

Balance outstanding at end of year

5,350

3,428

Following the year end date a dividend was paid on 31st March 2014 to clear the directors overdrawn loan

accounts.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A V Hague.

7.	GOING CONCERN

The director and shareholders have confirmed their willingness to maintain their continued financial support of

the company and based on their assessment of the future operations of the company are satisfied that the

company remains a going concern.