Compression Ignition Power Services Ltd

Compression Ignition Power Services Ltd

COMPRESSION IGNITION POWER SERVICES LTD - Company Information

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Registered number: 8959036
Compression Ignition Power Services Ltd
Abbreviated accounts
For The Year Ended 31 March 2015
John D. Owen F.C.A.

Commerce House
34-38 King Street
Newcastle
Staffordshire
ST5 1HX
Compression Ignition Power Services Ltd
Company No. 8959036
Abbreviated Balance Sheet 31 March 2015
Abbreviated Balance Sheet
2015
Notes £ £
FIXED ASSETS
Tangible assets 2 15,853
15,853
CURRENT ASSETS
Debtors 9,756
Cash at bank and in hand 37,749
47,505
Creditors: Amounts Falling Due Within One Year (43,640)
NET CURRENT ASSETS (LIABILITIES) 3,865
TOTAL ASSETS LESS CURRENT LIABILITIES 19,718
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,171)
NET ASSETS 16,547
CAPITAL AND RESERVES
Called up share capital 3 200
Profit and Loss account 16,347
SHAREHOLDERS' FUNDS 16,547
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Compression Ignition Power Services Ltd
Company No. 8959036
Abbreviated Balance Sheet (continued) 31 March 2015
For the year ending 31 March 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 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr ROBERT CLARKE
30/07/2015
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Compression Ignition Power Services Ltd
Notes to the Abbreviated Accounts
For The Year Ended 31 March 2015
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 33% straight line
Computer Equipment 25% straight line
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Tangible Assets
Total
Cost £
As at 25 March 2014 -
Additions 21,472
As at 31 March 2015 21,472
Depreciation
As at 25 March 2014 -
Provided during the period 5,619
As at 31 March 2015 5,619
Net Book Value
As at 31 March 2015 15,853
As at 25 March 2014 -
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Compression Ignition Power Services Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 March 2015
Share Capital
Value Number 2015
Allotted, called up and fully paid: £ £
Ordinary A shares 1.000 100 100
Ordinary B shares 1.000 100 100
200 200
Transactions With and Loans to Directors
Dividends paid to directors
2015
£
Mr GAVIN DEAN 18,300
Mr ROBERT CLARKE 18,300
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