Abbreviated Company Accounts - AIS INSULATION SUPPLIES LIMITED

Abbreviated Company Accounts - AIS INSULATION SUPPLIES LIMITED

AIS INSULATION SUPPLIES LIMITED - Company Information

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Registered Number 05073733

AIS INSULATION SUPPLIES LIMITED

Abbreviated Accounts

30 April 2015

AIS INSULATION SUPPLIES LIMITED Registered Number 05073733

Abbreviated Balance Sheet as at 30 April 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 251,146 210,349
251,146 210,349
Current assets
Stocks 606,996 525,496
Debtors 2,611,035 1,625,121
Cash at bank and in hand 65,649 61,823
3,283,680 2,212,440
Creditors: amounts falling due within one year 3 (2,657,395) (1,819,714)
Net current assets (liabilities) 626,285 392,726
Total assets less current liabilities 877,431 603,075
Creditors: amounts falling due after more than one year 3 (48,780) (67,804)
Total net assets (liabilities) 828,651 535,271
Capital and reserves
Called up share capital 4 1 1
Profit and loss account 828,650 535,270
Shareholders' funds 828,651 535,271
  • For the year ending 30 April 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 26 January 2016

And signed on their behalf by:
Paul Elsey, Director

AIS INSULATION SUPPLIES LIMITED Registered Number 05073733

Notes to the Abbreviated Accounts for the period ended 30 April 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life:
Building improvements - 15%
Plant & machinery - 25%
Fixtures & fittings - 15%
Motor vehicles - 15%

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire Purchase Agreements
Assets held under hire purchase agreement are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating Lease Agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Tangible fixed assets
£
Cost
At 1 May 2014 439,103
Additions 158,429
Disposals (125,336)
Revaluations -
Transfers -
At 30 April 2015 472,196
Depreciation
At 1 May 2014 228,754
Charge for the year 84,545
On disposals (92,249)
At 30 April 2015 221,050
Net book values
At 30 April 2015 251,146
At 30 April 2014 210,349
3Creditors
2015
£		 2014
£
Secured Debts 806,206 625,831
4Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
1 Ordinary shares of £1 each 1 1

5Transactions with directors

Name of director receiving advance or credit: Paul Elsey
Description of the transaction: Loan
Balance at 1 May 2014: £ 152,074
Advances or credits made: £ 250,012
Advances or credits repaid: £ 250,000
Balance at 30 April 2015: £ 152,086