AIB_SOLUTIONS_LIMITED - Accounts

AIB SOLUTIONS LIMITED - Company Information

Print Friendly Version

Company Registration No. 04636247 (England and Wales)

AIB SOLUTIONS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

AIB SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

AIB SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

170,471

173,627

Current assets

Stocks

3,246

2,542

Debtors

131,996

317,410

Cash at bank and in hand

76,314

104,261

211,556

424,213

Creditors: amounts falling due within one year

(163,794)

(299,767)

Net current assets

47,762

124,446

Total assets less current liabilities

218,233

298,073

Creditors: amounts falling due after more than one year

(62,677)

(60,055)

Provisions for liabilities

(15,386)

140,170

222,632

Capital and reserves

Called up share capital

800

Other reserves

200

Profit and loss account

139,170

221,632

Shareholders' funds

140,170

222,632

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.

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 15 July 2015

Mr D Broadhurst

Mr W L Potts

Director

Company Registration No. 04636247

AIB SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 2 -

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

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

15% per annum of net book value

Computer equipment

33% per annum on cost

Fixtures, fittings and equipment

15% per annum of net book value

Motor vehicles

25% pet annum of net boko value

1.4

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.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

AIB SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2014

341,614

Additions

51,920

At 30 April 2015

393,534

Depreciation

At 1 May 2014

167,987

Charge for the year

55,076

At 30 April 2015

223,063

Net book value

At 30 April 2015

170,471

At 30 April 2014

173,627

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £27,362 (2014 - £34,719).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £62,677 (2014 - £60,055.

Share capital

2015

2014

Allotted, called up and fully paid

800 Ordinary shares of £1 each

800