Insulam Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC106668 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

INSULAM LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Cullen

I Dickson

SECRETARY:

D Cullen

REGISTERED OFFICE:

33 Fairfield Place

College Milton

East Kilbride

G74 5LP

REGISTERED NUMBER:

SC106668 (Scotland)

ACCOUNTANT:

I M Neilson

Chartered Accountant

62e Cleveden Drive

Glasgow

G12 0NX

FIXED ASSETS

Tangible assets

2

82,272

97,260

CURRENT ASSETS

Stocks

41,891

41,364

Debtors

88,887

82,502

Cash at bank

179,872

151,998

310,650

275,864

CREDITORS

Amounts falling due within one year

(80,141

)

(64,882

)

NET CURRENT ASSETS

230,509

210,982

TOTAL ASSETS LESS CURRENT LIABILITIES

312,781

308,242

CAPITAL AND RESERVES

Called up share capital

3

10,000

10,000

Capital redemption reserve

5,000

5,000

Profit and loss account

297,781

293,242

SHAREHOLDERS' FUNDS

312,781

308,242

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 23 March 2016 and were signed on its behalf by:

D Cullen - Director

I Dickson - Director

1.	ACCOUNTING POLICIES

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

Depreciation is provided on all tangible fixed assets on the reducing balance method at the following rates:-

Leasehold property

2%

Plant, machinery & equipment

20%

Office equipment, furniture and fittings

15%

Motor Vehicles

25%

Tools

15%

Stock and work-in-progress

Stock 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.

Deferred tax

Deferred tax is provided on the liability method on all short term timing differences. Provision is also made for

long term timing differences except for those that are not expected to reverse in the future.

Pensions

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of

the company in an independently administered fund. The pension charge represents contributions payable by the

company to the funds.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

314,815

DEPRECIATION

At 1 November 2014

217,555

Charge for year

14,988

At 31 October 2015

232,543

NET BOOK VALUE

At 31 October 2015

82,272

At 31 October 2014

97,260

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

10,000

ordinary

1

10,000

10,000