Bristol Fluid System Technologies Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07360187 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Bristol Fluid System Technologies

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

S Cooke

REGISTERED OFFICE:

Unit 7, Orpen Park

Ash Ridge Road

Almondsbury

Bristol

BS32 4QD

REGISTERED NUMBER:

07360187 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Tangible assets

2

340,287

392,731

Investments

3

1,426,500

84,000

1,766,787

476,731

CURRENT ASSETS

Stocks

789,589

708,191

Debtors

995,141

1,230,963

Cash at bank and in hand

293,917

716,827

2,078,647

2,655,981

CREDITORS

Amounts falling due within one year

4

1,177,656

1,402,738

NET CURRENT ASSETS

900,991

1,253,243

TOTAL ASSETS LESS CURRENT LIABILITIES

2,667,778

1,729,974

CREDITORS

Amounts falling due after more than one year

4

(1,182,583

)

(770,857

)

PROVISIONS FOR LIABILITIES

(4,553

)

(7,186

)

NET ASSETS

1,480,642

951,931

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

1,480,542

951,831

SHAREHOLDERS' FUNDS

1,480,642

951,931

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

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

The director acknowledges his 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 director on 26 September 2016 and were signed by:

S Cooke - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Motor vehicles

-

33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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.

Fixed asset investments

Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for

impairment in value.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from

the fixed asset investment.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

627,775

Additions

28,332

At 31 December 2015

656,107

DEPRECIATION

At 1 January 2015

235,044

Charge for year

80,776

At 31 December 2015

315,820

NET BOOK VALUE

At 31 December 2015

340,287

At 31 December 2014

392,731

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

84,000

Additions

1,342,500

At 31 December 2015

1,426,500

NET BOOK VALUE

At 31 December 2015

1,426,500

At 31 December 2014

84,000

4.

CREDITORS

Creditors include an amount of £ 58,663 (2014 - £ 89,475 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary A

£1

100

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

S Cooke has provided a limited guarantee of £50,000 in respect of the bank overdraft.

7.	ACCELERATED PAYMENT NOTICE

During the year HM Revenue & Customs were granted powers to seek advanced payment of taxes where they believe the

company has experienced an unfair tax advantage. The director has identified contributions made into an employee

financed retirement benefit scheme and an employee benefit trust as a prospective target for an Accelerated Payment

Notice. The director has taken advice in respect of this matter and believes that it is unlikely any taxation liability will arise

in relation to the contributions made. In the directors' view therefore, any Accelerated Payment Notice which may be

issued by HM Revenue & Customs, is unlikely to result in a permanent economic outflow of benefits and accordingly no

provision has been made in these accounts.

At the date of approval of these accounts, no Accelerated Payment Notice had been received.

The following reproduces the text of the report prepared for the director 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 Bristol Fluid System Technologies Limited for the year ended 31 December 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 director of Bristol Fluid System Technologies Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bristol Fluid System Technologies Limited and state those matters that we have agreed to state to the director of Bristol Fluid System Technologies Limited 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 director for our work or for this report.

It is your duty to ensure that Bristol Fluid System Technologies 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 Bristol Fluid System Technologies Limited. You consider that Bristol Fluid System Technologies 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 Bristol Fluid System Technologies 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.

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

26 September 2016