Active Composites Limited,Ltd - Accounts

Active Composites Limited,Ltd - Accounts

ACTIVE COMPOSITES LIMITED - Company Information

Print Friendly Version

2014-10-01 true false Private Limited Company SC302354 2015-09-30 SC302354 2014-10-01 2015-09-30 SC302354 2014-09-30 SC302354 2013-10-01 2014-09-30 SC302354 uk-bus:Director1 2014-10-01 2015-09-30 SC302354 uk-gaap:PlantMachinery 2014-10-01 2015-09-30 SC302354 uk-gaap:OfficeEquipment 2014-10-01 2015-09-30 SC302354 uk-gaap:CommercialMotorVehicles 2014-10-01 2015-09-30 SC302354 uk-gaap:FixturesFittings 2014-10-01 2015-09-30 SC302354 uk-bus:OrdinaryShareClass1 2015-09-30 iso4217:GBP
Active Composites Limited
For the year ended 30 September 2015
Scotland
Registered Number: SC302354
2
Contents Page
Active Composites Limited
For the year ended 30 September 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Active Composites Limited
Accountants' Report
For the year ended 30 September 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 30 September 2015 and you consider that the company is exempt from an audit under the Companies Act
2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Northumberland Accountants & Tax Advisers
77 The Gables
Widdrington
Morpeth
Northumberland
NE61 5RB
1 of 4
4
Abbreviated Balance Sheet
Active Composites Limited
As at 30 September 2015
SC302354
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
45,995
59,278
45,995
59,278
Current assets
Stocks
20,000
18,400
Debtors
3
107,178
83,276
Cash at bank and in hand
39,210
13,437
140,886
140,615
Creditors: amounts falling due within one year
4
(136,199)
(115,802)
4,416
25,084
Net current assets
Total assets less current liabilities
71,079
63,694
Creditors: amounts falling due after more than one year
5
(209,195)
(132,682)
(61,603)
Net liabilities
(145,501)
Capital and reserves
Called up share capital
2
6
2
Profit and loss account
(61,605)
(145,503)
(61,603)
(145,501)
Shareholders funds
For the year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 26 October 2015
Alan Nicholson Harold Director
Signed on behalf of the board of directors
2 of 4
5
Notes to the Abbreviated Financial Statements
Active Composites Limited
For the year ended 30 September 2015
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
25% Straight line
Computer Equipment
25% Straight line
Motor Vehicles
25% Straight line
Fixtures and Fittings
25% Straight line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the
factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the
proceeds received from the factor.
3 of 4
6
Notes to the Abbreviated Financial Statements
Active Composites Limited
For the year ended 30 September 2015
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
102,699
At 01 October 2014
6,724
Additions
At 30 September 2015
109,423
Depreciation
43,421
At 01 October 2014
20,007
Charge for year
63,428
At 30 September 2015
Net book values
At 30 September 2015
45,995
59,278
At 30 September 2014
Debtors include an amount of £3941 (2014: £0) falling due after more than one year
3 Debtors:
4 Creditors: amounts falling due within one year
Other creditors includes £15,216.41 due to the factoring company which is secured upon trade debtors,.and £15,476.73 in respect of a loan from ARCH.
5 Creditors due after more than one year
Other creditors includes £48,385 in respect of a loan from ARCH.
6 Share capital
Allotted called up and fully paid
2015
2014
£
£
2 Ordinary shares of £1.00 each
2
2
2
2
4 of 4