Insulution Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06513717 (England and Wales)

Insulution Limited

Abbreviated Unaudited Accounts

For The Year Ended 29 February 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M C Hind

REGISTERED OFFICE:

C/o Lloyd Piggott Limited

Wellington House

39-41 Piccadilly

Manchester

M1 1LQ

REGISTERED NUMBER:

06513717 (England and Wales)

ACCOUNTANTS:

Lloyd Piggott Limited

Chartered Accountants

Wellington House

39/41 Piccadilly

Manchester

M1 1LQ

FIXED ASSETS

Tangible assets

2

8,306

10,796

CURRENT ASSETS

Stocks

18,615

28,790

Debtors

146,391

127,808

Cash at bank

675

87

165,681

156,685

CREDITORS

Amounts falling due within one year

3

147,192

138,296

NET CURRENT ASSETS

18,489

18,389

TOTAL ASSETS LESS CURRENT
LIABILITIES

26,795

29,185

PROVISIONS FOR LIABILITIES

1,662

2,160

NET ASSETS

25,133

27,025

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

25,033

26,925

SHAREHOLDERS' FUNDS

25,133

27,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 29 November 2016 and were signed by:

M C Hind - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

34,643

DEPRECIATION

At 1 March 2015

23,847

Charge for year

2,490

At 29 February 2016

26,337

NET BOOK VALUE

At 29 February 2016

8,306

At 28 February 2015

10,796

3.

CREDITORS

Creditors include an amount of £ 13,244 (2015 - £ 12,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2016

and 28 February 2015:

2016

2015

£

M C Hind

Balance outstanding at start of year

59,218

33,126

Amounts advanced

78,462

93,861

Amounts repaid

(65,086

)

(67,769

)

Balance outstanding at end of year

72,594

59,218