Fisher Leak Systems Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03792961 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

FISHER LEAK SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M J Fisher

SECRETARY:

S J Holder

REGISTERED OFFICE:

Blackthorn House

St Pauls Square

Birmingham

B3 1RL

REGISTERED NUMBER:

03792961 (England and Wales)

ACCOUNTANTS:

Holder Blackthorn LLP

Blackthorn House

St Pauls Square

Birmingham

B3 1RL

FIXED ASSETS

Tangible assets

2

62,990

76,876

CURRENT ASSETS

Stocks

295,484

312,812

Debtors

746,099

769,592

Cash at bank and in hand

35,000

21

1,076,583

1,082,425

CREDITORS

Amounts falling due within one year

515,271

532,851

NET CURRENT ASSETS

561,312

549,574

TOTAL ASSETS LESS CURRENT LIABILITIES

624,302

626,450

CREDITORS

Amounts falling due after more than one year

(4,420

)

(15,028

)

PROVISIONS FOR LIABILITIES

(11,300

)

(13,900

)

NET ASSETS

608,582

597,522

CAPITAL AND RESERVES

Called up share capital

3

5,000

5,000

Retained earnings

603,582

592,522

SHAREHOLDERS' FUNDS

608,582

597,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 17 March 2016 and were signed by:

M J Fisher - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods and

services in the ordinary nature of the business. Turnover is shown net of Value Added Tax, of goods sold and

services provided to customers and, in the case of long term contracts, credit is taken appropriate to the stage of

completion when the outcome of the contract can be assessed with reasonable certainty.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

159,841

Additions

8,797

At 31 December 2015

168,638

DEPRECIATION

At 1 January 2015

82,965

Charge for year

22,683

At 31 December 2015

105,648

NET BOOK VALUE

At 31 December 2015

62,990

At 31 December 2014

76,876

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,000

Ordinary

£1

5,000

5,000