Aspire Plumbing & Heating Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07202515 (England and Wales)

ASPIRE PLUMBING & HEATING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R Westlotorn

REGISTERED OFFICE:

Greytown House

221-227 High Street

Orpington

Kent

BR6 0NZ

REGISTERED NUMBER:

07202515 (England and Wales)

FIXED ASSETS

Tangible assets

2

10,147

15,220

CURRENT ASSETS

Stocks

1,390

1,419

Debtors

8,321

5,484

Cash at bank

13,742

13,978

23,453

20,881

CREDITORS

Amounts falling due within one year

15,769

14,968

NET CURRENT ASSETS

7,684

5,913

TOTAL ASSETS LESS CURRENT LIABILITIES

17,831

21,133

CREDITORS

Amounts falling due after more than one year

10,986

14,198

NET ASSETS

6,845

6,935

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

6,745

6,835

SHAREHOLDERS' FUNDS

6,845

6,935

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 director acknowledges his 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 director on 8 December 2015 and were signed by:

R Westlotorn - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is

appropriate because there are no material uncertainties related to events or conditions that may cast significant

doubt about the ability of the company to continue as a going concern.

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses.

Plant & Machinery - 25% on cost

Motor Vehicle - 25% on cost

At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not in excess of the amount that would have been determined had no

impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised

immediately in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

20,294

DEPRECIATION

At 1 April 2014

5,074

Charge for year

5,073

At 31 March 2015

10,147

NET BOOK VALUE

At 31 March 2015

10,147

At 31 March 2014

15,220

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100