APIN_CHEMICALS_LTD - Accounts

APIN CHEMICALS LIMITED - Company Information

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Company Registration No. 01371302 (England and Wales)

APIN CHEMICALS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

APIN CHEMICALS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

APIN CHEMICALS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

5,931

Current assets

Stocks

20,000

Debtors

45,859

61,778

Cash at bank and in hand

993

384,174

46,852

465,952

Creditors: amounts falling due within one year

(46,800)

(274,338)

Net current assets

191,614

Total assets less current liabilities

197,545

Provisions for liabilities

(870)

196,675

Capital and reserves

Called up share capital

Profit and loss account

196,623

Shareholders' funds

196,675

For the financial year ended 31 July 2016 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 16 November 2016

Dr Vanessa Eastwick-Field

Director

Company Registration No. 01371302

APIN CHEMICALS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

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

Turnover

Turnover represents net invoiced sales of goods and or services (excluding VAT).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Leasehold improvements

No depreciation

Equipment and fittings

20% reducing balance

1.4

Stock

Work in progress is valued at the lower of cost and net realisable value.

The company operates a money purchase (defined contribution) pension scheme. Contributions payable to this scheme are charged to the profit and loss account in the period to which they relate. These contributions are invested separately from the company's assets.

1.5

Deferred taxation

Deferred tax 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.

1.6

Foreign currency translation

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 the transaction. Exchange differences are taken into the profit and loss account for the year.

1.7

Operating lease commitments

Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

APIN CHEMICALS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 August 2015

154,719

Disposals

(154,719)

At 31 July 2016

Depreciation

At 1 August 2015

148,788

On disposals

(148,990)

Charge for the year

202

At 31 July 2016

Net book value

At 31 July 2016

At 31 July 2015

5,931

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary A Shares of £1 each

51 Ordinary B Shares of £1 each

On 5 June 2015, the company repurchased 48 Ordinary A shares at par value.