Abbreviated Company Accounts - AIRPRESS DEVELOPMENTS LIMITED

Abbreviated Company Accounts - AIRPRESS DEVELOPMENTS LIMITED

AIRPRESS DEVELOPMENTS LIMITED - Company Information

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Registered Number 05728391

AIRPRESS DEVELOPMENTS LIMITED

Abbreviated Accounts

31 March 2016

AIRPRESS DEVELOPMENTS LIMITED Registered Number 05728391

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 5,191 5,276
5,191 5,276
Current assets
Stocks 10,250 10,250
Debtors 27,717 8,014
Cash at bank and in hand 21,090 12,433
59,057 30,697
Creditors: amounts falling due within one year (30,210) (19,617)
Net current assets (liabilities) 28,847 11,080
Total assets less current liabilities 34,038 16,356
Total net assets (liabilities) 34,038 16,356
Capital and reserves
Called up share capital 2 2
Profit and loss account 34,036 16,354
Shareholders' funds 34,038 16,356
  • For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their 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.

Approved by the Board on 14 December 2016

And signed on their behalf by:
P J Hoggard, Director

AIRPRESS DEVELOPMENTS LIMITED Registered Number 05728391

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery - 20% reducing balance

Other accounting policies
Operating leases. Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

Stocks. Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Foreign currencies. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.

2Tangible fixed assets
£
Cost
At 1 April 2015 11,752
Additions 1,003
Disposals -
Revaluations -
Transfers -
At 31 March 2016 12,755
Depreciation
At 1 April 2015 6,476
Charge for the year 1,088
On disposals -
At 31 March 2016 7,564
Net book values
At 31 March 2016 5,191
At 31 March 2015 5,276