Synthetic Lubrication Systems Limited Filleted accounts for Companies House (small and micro)

Synthetic Lubrication Systems Limited Filleted accounts for Companies House (small and micro)

SYNTHETIC LUBRICATION SYSTEMS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03385343
Synthetic Lubrication Systems Limited
Filleted Unaudited Abridged Financial Statements
31 December 2018
Synthetic Lubrication Systems Limited
Abridged Statement of Financial Position
31 December 2018
2018
2017
Note
£
£
£
Current assets
Debtors
2
2
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Net current assets
2
2
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Total assets less current liabilities
2
2
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----
Capital and reserves
Called up share capital
2
2
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----
Shareholders funds
2
2
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior period and has not made either a profit or loss.
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 9 September 2019 , and are signed on behalf of the board by:
P Parkes
Director
Company registration number: 03385343
Synthetic Lubrication Systems Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Johnson House, Bilston Industrial Estate, Oxford Street, Bilston, West Midlands, WV14 7EG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior period and therefore no income statement is presented within these abridged financial statements. There have been no movements in shareholders funds during the current year or prior period.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
5. Controlling party
The company is a wholly owned subsidiary of Kespar Engineering Limited, a company incorporated in England and Wales.