Filterite Limited - Limited company - abbreviated - 11.9
Filterite Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
| for |
| Filterite Limited |
| Filterite Limited (Registered number: 04721832) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 October 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 7 |
| Filterite Limited |
| Company Information |
| for the Year Ended 31 October 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Filterite Limited (Registered number: 04721832) |
| Abbreviated Balance Sheet |
| 31 October 2015 |
| 31.10.15 | 31.10.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Filterite Limited (Registered number: 04721832) |
| Abbreviated Balance Sheet - continued |
| 31 October 2015 |
| The financial statements were approved by the Board of Directors on |
| Filterite Limited (Registered number: 04721832) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 October 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets 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, except in respect of service contracts |
| where turnover is recognised when the company obtains the right to consideration. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been amortised |
| evenly over its estimated useful life of ten years. |
| Tangible fixed assets |
| Improvements to property | - |
| Office equipment | - |
| Plant & equipment | - |
| Motor vehicles | - |
| 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 |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all |
| timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only |
| recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax |
| is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing |
| differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
| date. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Investments |
| Investments are held in managed funds and are show at their year end valuation as provided by the fund |
| managers. Any gains/losses arising from changes in market value are shown as revaluation reserve movements |
| unless realised during the year. |
| Operating lease |
| The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, |
| unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the |
| net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar |
| charges. |
| Filterite Limited (Registered number: 04721832) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 October 2015 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2014 |
| and 31 October 2015 |
| AMORTISATION |
| At 1 November 2014 |
| and 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2014 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2015 |
| DEPRECIATION |
| At 1 November 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST OR VALUATION |
| At 1 November 2014 | 749,501 |
| Revaluations | 31,030 |
| At 31 October 2015 | 780,531 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| Filterite Limited (Registered number: 04721832) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 October 2015 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.15 | 31.10.14 |
| value: | £ | £ |
| Ordinary A Shares | £1 |
| The ordinary A and ordinary B shares rank pari passu only in respect of dividends if paid, but the B shares will |
| not rank for any capital distribution on disposal. No B shares are currently issued. |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 October 2015 and |
| 31 October 2014: |
| 31.10.15 | 31.10.14 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Amounts in brackets are due to the directors. The loans are interest free and repayable on demand. The above |
| amounts represent the aggregate movements during the year rather than each individual transaction. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Filterite Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have |
| been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Filterite Limited for the year ended 31 October 2015 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Filterite Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Filterite Limited and state those matters that we have agreed to state to the Board of Directors of Filterite Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Filterite Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Filterite Limited. You consider that Filterite Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Filterite Limited. For this |
| reason, we have not verified the accuracy or completeness of the accounting records or information and explanations |
| you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 4 April 2016 |