Company Registration No. 07337924 (England and Wales)
ENGINEERED AIR SYSTEMS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
ENGINEERED AIR SYSTEMS LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ENGINEERED AIR SYSTEMS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
6,400
9,600
Tangible assets
2
5,129
5,028
11,529
14,628
Current assets
Stocks
325
350
Debtors
44,863
55,709
45,188
56,059
Creditors: amounts falling due within one year
(56,305)
(69,191)
Net current liabilities
(11,117)
(13,132)
Total assets less current liabilities
412
1,496
Creditors: amounts falling due after more than one year
-
(1,000)
Provisions for liabilities
(144)
-
268
496
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
267
495
Shareholders' funds
268
496
ENGINEERED AIR SYSTEMS LTD
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 27 September 2016
Mr R G White
Director
Company Registration No. 07337924
ENGINEERED AIR SYSTEMS LTD
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
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.
1.5
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
15% Reducing balance
Motor vehicles
25% Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
16,000
8,509
24,509
Additions
-
1,470
1,470
At 31 December 2015
16,000
9,979
25,979
Depreciation
At 1 January 2015
6,400
3,482
9,882
Charge for the year
3,200
1,368
4,568
At 31 December 2015
9,600
4,850
14,450
Net book value
At 31 December 2015
6,400
5,129
11,529
At 31 December 2014
9,600
5,028
14,628
ENGINEERED AIR SYSTEMS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
3
Share capital
2015
2014
£
£
Authorised
1 Ordinary Share of £1 each
1
1
Allotted, called up and fully paid
1 Ordinary Share of £1 each
1
1