Company Registration No. 05738867 (England and Wales)
DURHAM FILTRATION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
DURHAM FILTRATION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
DURHAM FILTRATION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
78,750
101,250
Tangible assets
2
44,552
44,512
123,302
145,762
Current assets
Stocks
183,320
183,035
Debtors
1,369,553
1,047,994
Cash at bank and in hand
28,412
36,311
1,581,285
1,267,340
Creditors: amounts falling due within one year
(1,140,735)
(823,977)
Net current assets
440,550
443,363
Total assets less current liabilities
563,852
589,125
Creditors: amounts falling due after more than one year
-
(30,000)
563,852
559,125
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
563,752
559,025
Shareholders' funds
563,852
559,125
DURHAM FILTRATION LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
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.
Director's 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 director acknowledges his 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 17 June 2016
B Goulden
Director
Company Registration No. 05738867
DURHAM FILTRATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual installlments over its useful economic life of 5 to 10 years.
1.4
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:
Fixtures, fittings & equipment
20% Straight Line
Motor vehicles
20% Straight Line
1.5
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.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
DURHAM FILTRATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
225,000
151,514
376,514
Additions
-
19,778
19,778
At 31 December 2015
225,000
171,292
396,292
Depreciation
At 1 January 2015
123,750
107,002
230,752
Charge for the year
22,500
19,738
42,238
At 31 December 2015
146,250
126,740
272,990
Net book value
At 31 December 2015
78,750
44,552
123,302
At 31 December 2014
101,250
44,512
145,762
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Ultimate parent company
The ultimate parent company is Gentleaid (13) Limited, a company incorporated in England and Wales.