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DE HAVILLAND FABRICATION & WELDING LIMITED - Company Information

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Company Registration No. 03203844 (England and Wales)

DE HAVILLAND FABRICATION & WELDING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

DE HAVILLAND FABRICATION & WELDING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

DE HAVILLAND FABRICATION & WELDING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

133

329

Tangible assets

290,797

250,541

290,930

250,870

Current assets

Stocks

10,000

15,000

Debtors

855,113

865,739

Cash at bank and in hand

205,039

4,111

1,070,152

884,850

Creditors: amounts falling due within one year

(628,248)

(569,119)

Net current assets

441,904

315,731

Total assets less current liabilities

732,834

566,601

Provisions for liabilities

(51,531)

(47,873)

681,303

518,728

Capital and reserves

Called up share capital

100

Other reserves

100

Profit and loss account

681,103

518,528

Shareholders' funds

681,303

518,728

DE HAVILLAND FABRICATION & WELDING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MAY 2015

- 2 -

For the financial year ended 31 May 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 and authorised for issue on 1 September 2015

J E Jewell

Director

Company Registration No. 03203844

DE HAVILLAND FABRICATION & WELDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Land and buildings Leasehold

10% straight line

Plant and machinery

10% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing

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

1.7

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

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. The deferred tax balance has not been discounted.

DE HAVILLAND FABRICATION & WELDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 June 2014

1,995

508,418

510,413

Additions

86,452

Disposals

(8,000)

At 31 May 2015

1,995

586,870

588,865

Depreciation

At 1 June 2014

1,666

257,877

259,543

On disposals

(5,000)

Charge for the year

196

43,196

43,392

At 31 May 2015

1,862

296,073

297,935

Net book value

At 31 May 2015

133

290,797

290,930

At 31 May 2014

329

250,541

250,870

Debtors

Debtors include an amount of £33,873 (2014 - £-) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £29,879).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

DE HAVILLAND FABRICATION & WELDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 5 -

Transactions with directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2015

2014

in year

Amounts due from / to Mr W Ryan (Director)

(355)

42,145

Amounts due from / to Mrs J Jewell (Director)

(355)

42,145

Amounts due from / to Mr A Ford (Director)

(11,739)

6,152

During the year the company offered J E Jewell, a director of the company, a loan facility of £42,145. There are no fixed repayment terms on the loan and interest is not being charged on the outstanding balance. The loan was repaid in full on 01 July 2014.

During the year the company offered W C Ryan, a director of the company, a loan facility of £42,145. There are no fixed repayment terms on the loan and interest is not being charged on the outstanding balance. The loan was repaid in full on 01 July 2014.

During the year the company offered A Ford, a director of the company a loan facility of £6,152. There are no fixed repayment terms on the loan and interest is not being charged on the outstanding balance. The loan was repaid in full on 12 August 2014.

During the year the company paid dividends to the directors as follows:

2015

2014

Dividends paid to directors

210,436

165,057