Company Registration No. 03529978 (England and Wales)
COOL REPAIR SCIENTIFIC UK LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
COOL REPAIR SCIENTIFIC UK LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
COOL REPAIR SCIENTIFIC UK LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
129,978
125,270
Current assets
Stocks
44,803
40,579
Debtors
126,261
114,876
Cash at bank and in hand
19,478
3,516
190,542
158,971
Creditors: amounts falling due within one year
3
(180,885)
(135,609)
Net current assets
9,657
23,362
Total assets less current liabilities
139,635
148,632
Creditors: amounts falling due after more than one year
4
(95,101)
(100,810)
Provisions for liabilities
(7,895)
(3,613)
36,639
44,209
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
36,539
44,109
Shareholders' funds
36,639
44,209
COOL REPAIR SCIENTIFIC UK LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 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 15 December 2015
Mr A Lettinga
Director
Company Registration No. 03529978
COOL REPAIR SCIENTIFIC UK LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1
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 April 2008).
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.
1.5
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:
Land and buildings Freehold
2% straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
20% reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
COOL REPAIR SCIENTIFIC UK LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
1
Accounting policies
(Continued)
1.9
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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
14,000
185,306
199,306
Additions
18,976
18,976
At 31 March 2015
14,000
204,282
218,282
Depreciation
At 1 April 2014
14,000
60,037
74,037
Charge for the year
14,267
14,267
At 31 March 2015
14,000
74,304
88,304
Net book value
At 31 March 2015
129,978
129,978
At 31 March 2014
125,270
125,270
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £9,425 (2014 - £7,434).
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
73,739
80,138
The aggregate amount of creditors for which security has been given amounted to £95,101 (2014 - £100,810).
COOL REPAIR SCIENTIFIC UK LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100