Freeston Water Treatment Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02002230 (England and Wales)

FREESTON WATER TREATMENT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

52,983

64,219

Investments

4

418

418

53,401

64,637

CURRENT ASSETS

Stocks

110,733

121,335

Debtors

295,024

257,729

Cash in hand

630

384

406,387

379,448

CREDITORS

Amounts falling due within one year

5

(343,521

)

(321,992

)

NET CURRENT ASSETS

62,866

57,456

TOTAL ASSETS LESS CURRENT LIABILITIES

116,267

122,093

CREDITORS

Amounts falling due after more than one year

5

(88,130

)

(109,072

)

PROVISIONS FOR LIABILITIES

(4,839

)

(4,828

)

NET ASSETS

23,298

8,193

CAPITAL AND RESERVES

Called up share capital

6

100

100

Other reserves

418

418

Profit and loss account

22,780

7,675

SHAREHOLDERS' FUNDS

23,298

8,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 1 July 2015 and were signed on its behalf by:

N C Freeston - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company meets its day to day working capital requirements through an overdraft facility which is repayable

on demand. The nature of the company's business is such that there can be considerable unpredictable variations

in the timing of cashflows. The directors prepare monthly management accounts. On the basis of information

since the year end, the directors consider that the company will continue to operate within the facility which they

expect will be renewed. On this basis, the directors consider it appropriate to prepare the financial statements on

the going concern basis. The financial statements do not include any adjustments that would result from a

withdrawal of the overdraft facility by the company's bankers.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents sales of goods and services net of VAT and trade discounts. Turnover of goods is

recognised when the goods are physically dispatched to the customer. Turnover relating to services represents

the value of services provided under contracts to the extent that there is a right to consideration and is recorded at

the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the

service provided to date based on a proportion of the total expected consideration at completion. Where

payments are received from customers in advance of services provided, the amounts are recorded as deferred

income and included as part of creditors due within one year

Amortisation

Amortisation is calculated so as to write off the cost of goodwill less its estimated residual value, over the useful

economic life. Goodwill has been fully amortised.

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

-

10% Reducing balance

Fixtures and fittings

-

10% Reducing balance

Motor vehicles

-

20% Straight line

Computer equipment

-

25% Reducing balance

Stocks and work in progress

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

moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable

overheads.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of

activity. Provision is made for any forseeable losses where appropriate. No element of profit is included in the

valuation of work in progress.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

11,500

AMORTISATION

At 1 April 2014

and 31 March 2015

11,500

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

243,430

Additions

4,364

Disposals

(15,300

)

At 31 March 2015

232,494

DEPRECIATION

At 1 April 2014

179,211

Charge for year

15,600

Eliminated on disposal

(15,300

)

At 31 March 2015

179,511

NET BOOK VALUE

At 31 March 2015

52,983

At 31 March 2014

64,219

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 April 2014

and 31 March 2015

418

NET BOOK VALUE

At 31 March 2015

418

At 31 March 2014

418

5.

CREDITORS

Creditors include an amount of £ 201,040 (2014 - £ 224,080 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

4,343

Ordinary A

1p

43

43

4,843

Ordinary B

1p

48

48

14

Ordinary C

1p

-

-

14

Ordinary D

1p

-

-

257

Ordinary E

1p

4

4

29

Ordinary F

1p

-

-

500

Ordinary G

1p

5

5

100

100