HVAC Industrial Fans Limited - Period Ending 2014-12-31

Registration number: 06734231

HVAC Industrial Fans Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Lambert Chapman LLP
Chartered Accountants
Heybridge Business Centre
110 The Causeway
Maldon
Essex
CM9 4ND

HVAC Industrial Fans Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 06734231

HVAC Industrial Fans Limited
Balance Sheet as at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			137			-
Current assets
Stocks					130,675			134,147
Debtors					368,054			276,348
Cash at bank and in hand					7,649			98,313
					506,378			508,808
Creditors: Amounts falling due within one year					(51,657)			(103,480)
Net current assets					454,721			405,328
Total assets less current liabilities					454,858			405,328
Provisions for liabilities					(28)			-
Net assets					454,830			405,328
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					454,730			405,228
Shareholders' funds					454,830			405,328

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 directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 16 September 2015 and signed on its behalf by:

Mr M K Gibbons
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

HVAC Industrial Fans Limited
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).

Turnover

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

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
Plant and machinery	20% straight line

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 2

HVAC Industrial Fans Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		1,938			1,938
Additions		171			171
At 31 December 2014		2,109			2,109
Depreciation
At 1 January 2014		1,938			1,938
Charge for the year		34			34
At 31 December 2014		1,972			1,972
Net book value
At 31 December 2014		137			137
At 31 December 2013		-			-

3	Share capital

Allotted, called up and fully paid shares

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

Page 3