Warmspace Insulation Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03234306 (England and Wales)

WARMSPACE INSULATION LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr C J Barclay

Mr D Carroll

REGISTERED OFFICE:

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

REGISTERED NUMBER:

03234306 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

National Westminster Bank Plc

84 Commercial Road

SWINDON

Wiltshire

SN1 5NW

FIXED ASSETS

Tangible assets

2

408,253

529,785

CURRENT ASSETS

Stocks

38,287

14,710

Debtors

1,301,053

1,140,396

Cash at bank and in hand

20,860

378,157

1,360,200

1,533,263

CREDITORS

Amounts falling due within one year

3

1,480,319

1,212,991

NET CURRENT (LIABILITIES)/ASSETS

(120,119

)

320,272

TOTAL ASSETS LESS CURRENT
LIABILITIES

288,134

850,057

CREDITORS

Amounts falling due after more than
one year

3

(95,635

)

(192,096

)

PROVISIONS FOR LIABILITIES

(20,000

)

(70,208

)

NET ASSETS

172,499

587,753

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

172,497

587,751

SHAREHOLDERS' FUNDS

172,499

587,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 6th May 2016 and were signed on
its behalf by:

Mr D Carroll - Director

Mr C J Barclay - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have assessed the forthcoming period in terms of profitability and cashflows and feel

that the going concern principle remains appropriate.

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

Deprecation is provided at the following annual rates in order to write off each asset over its

estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st October 2014

1,118,836

Additions

24,976

Disposals

(111,899

)

At 30th September 2015

1,031,913

DEPRECIATION

At 1st October 2014

589,051

Charge for year

125,231

Eliminated on disposal

(90,622

)

At 30th September 2015

623,660

NET BOOK VALUE

At 30th September 2015

408,253

At 30th September 2014

529,785

3.

CREDITORS

Creditors include an amount of £ 455,904 (2014 - £ 291,035 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2

5.	ULTIMATE PARENT COMPANY

BCCD Group Ltd is regarded by the directors as being the company's ultimate parent company.