INLAND_U.K_LIMITED - Accounts

INLAND U.K LIMITED - Company Information

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Company Registration No. 02202160 (England and Wales)

INLAND U.K LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

INLAND U.K LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

INLAND U.K LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

1,125

Tangible assets

2,745

3,239

3,870

3,239

Current assets

Stocks

82,543

58,896

Debtors

40,309

45,605

Cash at bank and in hand

10,110

11,599

132,962

116,100

Creditors: amounts falling due within one year

(113,003)

(109,826)

Net current assets

19,959

6,274

Total assets less current liabilities

23,829

9,513

Creditors: amounts falling due after more than one year

(14,097)

9,732

9,513

Capital and reserves

Called up share capital

15,000

Profit and loss account

(5,268)

(5,487)

Shareholders' funds

9,732

9,513

INLAND U.K LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 September 2016

Mr T C Mather

Director

Company Registration No. 02202160

INLAND U.K LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Research and development

Development expenditure is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Deferred tax assets are recognised only to the extent that it is considered more likely than not that there will be suitable taxable profits in the future from which the underlying timing differences can be deducted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

INLAND U.K LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

57,361

Additions

1,250

420

1,670

At 31 December 2015

1,250

57,781

59,031

Depreciation

At 1 January 2015

54,122

Charge for the year

125

914

1,039

At 31 December 2015

125

55,036

55,161

Net book value

At 31 December 2015

1,125

2,745

3,870

At 31 December 2014

3,239

Share capital

2015

2014

Allotted, called up and fully paid

15,000 Ordinary shares of £1 each

15,000