Durastic Limited - Abbreviated accounts

Registered number

03050638

Durastic Limited

Unaudited Abbreviated Accounts

31 December 2015

Durastic Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Durastic Limited for the year ended 31 December 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Durastic Limited for the year ended 31 December 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

Adams & Co Accountants Limited
Chartered Accountants
2 Millers Bridge
Bootle
Liverpool
L20 8LH

19 July 2016

Durastic Limited
Registered number:		03050638
Abbreviated Balance Sheet
as at 31 December 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		80,464			54,589

Current assets
Stocks		174,755			252,781
Debtors		1,626,375			1,671,782
Cash at bank and in hand		240,166			173,491
		2,041,296			2,098,054

Creditors: amounts falling due within one year		(280,665)			(405,129)

Net current assets			1,760,631			1,692,925

Net assets			1,841,095			1,747,514

Capital and reserves
Called up share capital	3		520,002			520,002
Profit and loss account			1,321,093			1,227,512

Shareholders' funds			1,841,095			1,747,514

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



J.G.Gallagher
Director
Approved by the board on 19 July 2016

Durastic Limited
Notes to the Abbreviated Accounts
for the year ended 31 December 2015

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant & Equipment			4 to 5 years
	Motor vehicles			3 to 4 years

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

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations 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. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 January 2015					371,001
	Additions					51,345
	At 31 December 2015					422,346

	Depreciation
	At 1 January 2015					316,412
	Charge for the year					25,470
	At 31 December 2015					341,882

	Net book value
	At 31 December 2015					80,464
	At 31 December 2014					54,589


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		520,002		520,002