Europlastix Limited - Period Ending 2015-09-30

 
 
 
 
 
 
 
  Europlastix Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2015
 
  Company Registration Number: 06713243

Europlastix Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Europlastix Limited
Abbreviated Balance Sheet
31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			-			20,093
Current assets
Debtors					68,848			63,293
Cash at bank and in hand					52,151			84,019
					120,999			147,312
Creditors: Amounts falling due within one year					(99,348)			(137,165)
Net current assets					21,651			10,147
Total assets less current liabilities					21,651			30,240
Creditors: Amounts falling due after more than one year					(20,499)			-
Provisions for liabilities					-			(4,019)
Net assets					1,152			26,221
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					1,150			26,219
Shareholders' funds					1,152			26,221

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Europlastix Limited
Abbreviated Balance Sheet
31 March 2015 ......... continued

For the year ending 31 March 2015 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 .

Approved by the Board on 6 November 2015 and signed on its behalf by:

Mr J Goozee
 Director

Mr J Gibbins
 Director

Company Registration Number: 06713243

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Europlastix Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... 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 calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Office equipment	33% straight line
Motor vehicles	25% reducing balance

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.

Page 3

Europlastix Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		29,173			29,173
Disposals		(29,173)			(29,173)
At 31 March 2015		-			-
Depreciation
At 1 April 2014		9,080			9,080
Eliminated on disposals		(9,080)			(9,080)
At 31 March 2015		-			-
Net book value
At 31 March 2015		-			-
At 31 March 2014		20,093			20,093

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		11,331			-
Amounts falling due after more than one year		20,499			-
Total secured creditors		31,830			-

Page 4

Europlastix Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 5