SMITHS_AEROSPACE_LIMITED - Accounts

SMITHS AEROSPACE LIMITED - Company Information

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Company Registration No. 00830345 (England and Wales)

SMITHS AEROSPACE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

SMITHS AEROSPACE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SMITHS AEROSPACE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

81,367

72,299

Current assets

Stocks

1,548,384

1,423,377

Debtors

273,101

320,194

Cash at bank and in hand

78,805

10,111

1,900,290

1,753,682

Creditors: amounts falling due within one year

(897,706)

(1,187,251)

Net current assets

1,002,584

566,431

Total assets less current liabilities

1,083,951

638,730

Creditors: amounts falling due after more than one year

(277,236)

(358,331)

Provisions for liabilities

(14,996)

(11,338)

791,719

269,061

Capital and reserves

Called up share capital

480,488

444,988

Profit and loss account

311,231

(175,927)

Shareholders' funds

791,719

269,061

SMITHS AEROSPACE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 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 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 22 July 2015

Mr R Smith

Director

Company Registration No. 00830345

SMITHS AEROSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

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% Reducing balance

Fixtures, fittings & equipment

15% Reducing balance

Motor vehicles

20-25% on cost

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2014

334,348

Additions

20,379

At 31 March 2015

354,727

Depreciation

At 1 April 2014

262,049

Charge for the year

11,311

At 31 March 2015

273,360

Net book value

At 31 March 2015

81,367

At 31 March 2014

72,299

SMITHS AEROSPACE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

60,419

23,001

The aggregate amount of creditors for which security has been given amounted to £271,074 (2014 - £208,626).

Share capital

2015

2014

Allotted, called up and fully paid

319,988 Ordinary A of £1 each

319,988

160,500 Ordinary B of £1 each

160,500

125,000

480,488

444,988

During the year 35,500 ordinary shares of £1 each were allotted and fully paid at par for cash consideration.