Nonwovens Innovation & Research Institut - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05019027 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended

31 May 2015

for

Nonwovens Innovation & Research

Institute Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

11,242

13,861

Investments

3

369

369

11,611

14,230

CURRENT ASSETS

Debtors

198,519

270,675

Cash at bank and in hand

451,365

278,964

649,884

549,639

CREDITORS

Amounts falling due within one year

184,876

113,800

NET CURRENT ASSETS

465,008

435,839

TOTAL ASSETS LESS CURRENT LIABILITIES

476,619

450,069

CREDITORS

Amounts falling due after more than one year

4

(30

)

(30

)

PROVISIONS FOR LIABILITIES

(1,159

)

(320

)

NET ASSETS

475,430

449,719

CAPITAL AND RESERVES

Called up share capital

5

166

166

Share premium

129,868

129,868

Profit and loss account

345,396

319,685

SHAREHOLDERS' FUNDS

475,430

449,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 February 2016 and were signed on its behalf by:

M C Rogers - Director

C E Fowler - Director

Professor S J Russell - Director

M J Tipper - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Nonwovens Innovation & Research Institute Limited

as an individual company and do not contain consolidated financial information as the parent of a

group. The company has taken the option under Section 398 of the Companies Act 2006 not to

prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services and goods, excluding value added tax, except in

respect of service contracts where turnover is recognised when the company obtains the right to

consideration.

Grants receivable

Revenue grants received are recognised in the profit and loss account so as to match the costs arising

for which the grant was awarded.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

33% on cost

Fixtures and fittings

-

100% on cost, 33% on cost, 25% on cost and 20% on cost

Computer equipment

-

50% on cost, 33% on cost, 25% on cost and 20% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

70,524

Additions

6,246

At 31 May 2015

76,770

DEPRECIATION

At 1 June 2014

56,663

Charge for year

8,865

At 31 May 2015

65,528

NET BOOK VALUE

At 31 May 2015

11,242

At 31 May 2014

13,861

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2014

and 31 May 2015

369

NET BOOK VALUE

At 31 May 2015

369

At 31 May 2014

369

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Insectshield Limited

Nature of business: Trading company

%

Class of shares:

holding

Ordinary

50.00

2015

30.6.14

£

£

Aggregate capital and reserves

(14,524

)

(12,733

)

Loss for the year

(1,791

)

(15,927

)

Rollastop Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

50.00

2015

30.11.14

£

£

Aggregate capital and reserves

2

2

Surfaceskins Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

50.00

A Ordinary

50.00

2015

31.3.14

£

£

Aggregate capital and reserves

606

606

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable otherwise than by instalments

30

30

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

30

Preference B

£1

30

30

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

£

166

A Shares

£1

166

166