Western Air Ducts (UK) Limited - Period Ending 2015-11-30

Registration number: 01387183

Western Air Ducts (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

Western Air Ducts (UK) Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

Western Air Ducts (UK) Limited
(Registration number: 01387183)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					54,601			74,137
Tangible fixed assets					216,942			220,477
Investments					-			1
		2			271,543			294,615
Current assets
Stocks					142,161			179,187
Debtors					452,779			511,131
Cash at bank and in hand					275			1,453
					595,215			691,771
Creditors: Amounts falling due within one year		3			(375,970)			(392,098)
Net current assets					219,245			299,673
Total assets less current liabilities					490,788			594,288
Creditors: Amounts falling due after more than one year					(112,502)			(119,934)
Net assets					378,286			474,354
Capital and reserves
Called up share capital		4			950			1,000
Capital redemption reserve					50			-
Profit and loss account					377,286			473,354
Shareholders' funds					378,286			474,354

Page 1

Western Air Ducts (UK) Limited
(Registration number: 01387183)
Abbreviated Balance Sheet at 30 November 2015

For the year ending 30 November 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 6 May 2016 and signed on its behalf by:

C J S Lintern Director

Page 2

Western Air Ducts (UK) Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 November 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of the supply of air ducts and associated products and services. Turnover is recognised at the point of sale.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Patents and trademarks	Straight line over 10 years
Development costs	Straight line over 4 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Straight line over 25 years
Leasehold improvements	Straight line over 6 years
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Motor vehicles	25% on reducing balance

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Page 3

Western Air Ducts (UK) Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 November 2015

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 4

Western Air Ducts (UK) Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 November 2015

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 December 2014		109,921			622,370			1			732,292
Additions		9,764			31,523			-			41,287
Disposals		-			-			(1)			(1)
At 30 November 2015		119,685			653,893			-			773,578
Depreciation
At 1 December 2014		35,784			401,893			-			437,677
Charge for the year		29,300			35,058			-			64,358
At 30 November 2015		65,084			436,951			-			502,035
Net book value
At 30 November 2015		54,601			216,942			-			271,543
At 30 November 2014		74,137			220,477			1			294,615

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		101,843			31,151
Amounts falling due after more than one year		112,502			119,934
Total secured creditors		214,345			151,085

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		53,665			46,625

Page 5

Western Air Ducts (UK) Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 November 2015

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Purchase of own shares

During the year the company purchased 50 of its own Ordinary at a nominal value of £100. The Ordinary were purchased for a consideration of £66,667 and represent 5% of the called up share capital of that class of share.

Page 6