INDUSTRIAL_MAINTENANCE_SU - Accounts

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED - Company Information

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Company Registration No. 05454364 (England and Wales)

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

9,725

13,220

Current assets

Stocks

62,734

104,404

Debtors

177,425

154,134

Cash at bank and in hand

400,429

381,616

640,588

640,154

Creditors: amounts falling due within one year

(300,346)

(289,852)

Net current assets

340,242

350,302

Total assets less current liabilities

349,967

363,522

Provisions for liabilities

(773)

(1,214)

349,194

362,308

Capital and reserves

Called up share capital

Profit and loss account

349,174

362,288

Shareholders' funds

349,194

362,308

For the financial year ended 29 February 2016 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 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 financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 May 2016

Mr A Gettings

Director

Company Registration No. 05454364

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% per annum on a reducing balance basis.

Fixtures, fittings & computer equipment

20% - 33% per annum on a reducing balance basis.

Motor vehicles

25% per annum on a reducing balance basis.

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

INDUSTRIAL MAINTENANCE SUPPLIES (LEICESTER) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 March 2015

49,697

Additions

167

At 29 February 2016

49,864

Depreciation

At 1 March 2015

36,477

Charge for the year

3,662

At 29 February 2016

40,139

Net book value

At 29 February 2016

9,725

At 28 February 2015

13,220

Share capital

2016

2015

Allotted, called up and fully paid

20 Ordinary shares of £1 each