Feather Diesel Services Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00957030 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

FEATHER DIESEL SERVICES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S C Smith

J E Morley

Mrs T M Smith

Mrs E C Morley

S J Westaway

SECRETARY:

S J Westaway

REGISTERED OFFICE:

Unit G12

Lock View

Lowfields Business Park

Elland

West Yorkshire

HX5 9HD

REGISTERED NUMBER:

00957030 (England and Wales)

ACCOUNTANTS:

Bartfields (UK) Limited

Chartered Accountants

4th Floor, Stockdale House

Headingley Office Park

8 Victoria Road

Leeds

LS6 1PF

FIXED ASSETS

Tangible assets

2

368,412

412,405

CURRENT ASSETS

Stocks

348,218

354,455

Debtors

747,128

690,468

Cash at bank and in hand

208,402

117,467

1,303,748

1,162,390

CREDITORS

Amounts falling due within one year

3

598,062

573,965

NET CURRENT ASSETS

705,686

588,425

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,074,098

1,000,830

CREDITORS

Amounts falling due after more than one
year

3

(19,651

)

(1,765

)

PROVISIONS FOR LIABILITIES

(49,865

)

(50,125

)

NET ASSETS

1,004,582

948,940

CAPITAL AND RESERVES

Called up share capital

4

1,200

Other reserves

300

Profit and loss account

1,003,082

947,440

SHAREHOLDERS' FUNDS

1,004,582

948,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 13 April 2016 and were signed on its behalf by:

S C Smith - 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to

customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated

residual value, over their expected useful economic life as follows:

Short leasehold property

Straight line over the remaining life of the lease

Plant and machinery

10% straight line basis

Fixtures and fittings

10% straight line basis

Motor vehicles

20% straight line basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete

and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and

selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of

certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date,

except as required by FRS19.

Deferred tax is measured at the rates that are expected to apply in the periods when timing differences are

expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and finance lease contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of

the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are

depreciated over their useful lives. The capital elements of future obligations under the leases are included as

liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss

account over the period of the lease and represents a constant proportion of the balance of capital repayments

outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their

useful lives. The capital element of future finance payments is included within creditors. Finance charges are

allocated to accounting periods over the length of the contract.

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the

lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss

account as they become payable in accordance with the rules of the scheme.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences

a residual interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

2,286,475

Additions

71,724

At 30 September 2015

2,358,199

DEPRECIATION

At 1 October 2014

1,874,070

Charge for year

115,717

At 30 September 2015

1,989,787

NET BOOK VALUE

At 30 September 2015

368,412

At 30 September 2014

412,405

3.

CREDITORS

Creditors include an amount of £ 17,090 (2014 - £ 27,240 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1,200

Ordinary shares

£1

1,200

5.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Feather Diesel Holdings Limited, the ultimate controlling entity, a

company incorporated in England and Wales.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2015 and

30 September 2014:

2015

2014

£

Mrs T M Smith

Balance outstanding at start of year

-

8,773

Amounts advanced

5,220

13,128

Amounts repaid

(5,165

)

(21,901

)

Balance outstanding at end of year

55

-

This loan is interest free with no fixed term of repayment.