Filter Services Limited - Period Ending 2018-12-31

Filter Services Limited

Unaudited Abridged Financial Statements

for the Year Ended 31 December 2018

Registration number: 01611206

Filter Services Limited

Contents

Page

Company Information	1
Abridged Balance Sheet	2
Notes to the Abridged Financial Statements	3 to 4

Filter Services Limited

Company Information

Director

P J McGuinness

Company secretary

Aspen UK Limited

Registered office

DRM Building Bond Street Bury Lancashire BL9 7BE

Accountants

Gortons Chartered Accountants Stanmore House 64-68 Blackburn Street Radcliffe Manchester M26 2JS

Page 1

Filter Services Limited

(Registration number: 01611206)
Abridged Balance Sheet as at 31 December 2018

	Note	2018 £		2017 £
Fixed assets
Tangible assets	4		18,599		18,073
Current assets
Stocks	5	115,083		116,131
Debtors		115,417		119,425
Cash at bank and in hand		40,231		12,638
		270,731		248,194
Prepayments and accrued income		2,312		1,702
Creditors: Amounts falling due within one year		(55,863)		(69,867)
Net current assets			217,180		180,029
Total assets less current liabilities			235,779		198,102
Provisions for liabilities			-		(2,925)
Accruals and deferred income			(4,387)		(2,677)
Net assets			231,392		192,500
Capital and reserves
Called up share capital		100		100
Profit and loss account		231,292		192,400
Total equity			231,392		192,500

For the financial year ending 31 December 2018 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 13 June 2019
 

.........................................

P J McGuinness
Director

The notes on pages 3 to 4 form an integral part of these abridged financial statements.

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Filter Services Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is DRM Building, Bond Street, Bury, Lancashire, BL9 7BE.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover represents the invoiced value of goods, net of value added tax, recognised on shipment.

Foreign currency transactions and balances

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

Deferred tax

Deferred tax is provided in full on timing differences at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income or expenditure in tax computations in periods different from those in which they are included in the financial statements. Deferred tax assets and liabilities are not discounted. Deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% and 25% reducing balance basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realised value is based on selling price less anticipated costs to completion, and selling costs.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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Filter Services Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2018

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2017 - 9).

4	Tangible assets

	Total £
Cost or valuation
At 1 January 2018	98,846
Additions	4,083
At 31 December 2018	102,929
Depreciation
At 1 January 2018	80,773
Charge for the year	3,557
At 31 December 2018	84,330
Carrying amount
At 31 December 2018	18,599
At 31 December 2017	18,073

5

Stocks

	2018 £	2017 £
Work in progress	6,521	-
Other inventories	108,562	116,131
	115,083	116,131

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £30,000 (2017 - £48,000).

7	Securities

Barclays Bank PLC hold a debenture dated 18 October 1996 and Clydesdale Bank PLC hold a debenture dated 19 August 2010 although no monies were owed to them at the year end (2017 - £Nil).

Page 4