Devonshire Thermal Insulations Ltd - Period Ending 2014-12-31

Registration number: 04113341

Devonshire Thermal Insulations Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Walker Langford & Co
Certified Practising Accountants
361 Pensby Road
Pensby
Wirral
CH61 6YF

Devonshire Thermal Insulations Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Devonshire Thermal Insulations Ltd
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Devonshire Thermal Insulations Ltd for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Devonshire Thermal Insulations Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Devonshire Thermal Insulations Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devonshire Thermal Insulations Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Devonshire Thermal Insulations Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Devonshire Thermal Insulations Ltd. You consider that Devonshire Thermal Insulations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Devonshire Thermal Insulations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Walker Langford & Co
Certified Practising Accountants
361 Pensby Road
Pensby
Wirral
CH61 6YF

25 August 2015

Page 1

Devonshire Thermal Insulations Ltd
(Registration number: 04113341)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					1,112			1,175
Tangible fixed assets					30,565			11,299
					31,677			12,474
Current assets
Stocks					3,200			3,200
Debtors					48,149			89,450
					51,349			92,650
Creditors: Amounts falling due within one year					(76,117)			(97,785)
Net current liabilities					(24,768)			(5,135)
Net assets					6,909			7,339
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					6,809			7,239
Shareholders' funds					6,909			7,339

For the year ending 31 December 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 director acknowledges his 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 director on 25 August 2015

.........................................
Mr John Stephen Dodd
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Devonshire Thermal Insulations Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
	10% Straight Line Basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	20% Reducing Balance
Plant & Machinery	25% Reducing Balance
Motor Vehicles	20% Reducing Balance
Motor Vehicles	20% Reducing Balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Devonshire Thermal Insulations Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		1,567			37,364			38,931
Additions		-			23,126			23,126
At 31 December 2014		1,567			60,490			62,057
Depreciation
At 1 January 2014		392			26,065			26,457
Charge for the year		63			3,860			3,923
At 31 December 2014		455			29,925			30,380
Net book value
At 31 December 2014		1,112			30,565			31,677
At 31 December 2013		1,175			11,299			12,474

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4