Nonwovens Innovation & Research Institut - Abbreviated accounts 16.3

REGISTERED NUMBER: 05019027 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended

31 May 2016

for

Nonwovens Innovation & Research

Institute Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

16,902

11,242

Investments

3

460

369

17,362

11,611

CURRENT ASSETS

Debtors

355,323

198,519

Cash at bank and in hand

399,215

451,365

754,538

649,884

CREDITORS

Amounts falling due within one year

233,335

184,876

NET CURRENT ASSETS

521,203

465,008

TOTAL ASSETS LESS CURRENT LIABILITIES

538,565

476,619

PROVISIONS FOR LIABILITIES

-

1,159

NET ASSETS

538,565

475,460

CAPITAL AND RESERVES

Called up share capital

4

196

196

Share premium

129,868

129,868

Profit and loss account

408,501

345,396

SHAREHOLDERS' FUNDS

538,565

475,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 17 February 2017 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 January 2015).

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 2015

76,770

Additions

12,355

Disposals

(312

)

At 31 May 2016

88,813

DEPRECIATION

At 1 June 2015

65,528

Charge for year

6,393

Eliminated on disposal

(10

)

At 31 May 2016

71,911

NET BOOK VALUE

At 31 May 2016

16,902

At 31 May 2015

11,242

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2015

369

Additions

91

At 31 May 2016

460

NET BOOK VALUE

At 31 May 2016

460

At 31 May 2015

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

30.6.16

30.6.15

£

£

Aggregate capital and reserves

(15,076

)

(14,524

)

Loss for the year

(552

)

(1,791

)

Rollastop Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

50.00

2016

2015

£

£

Aggregate capital and reserves

2

2

Surfaceskins Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

65.00

A Ordinary

65.00

2016

2015

£

£

Aggregate capital and reserves

606

606

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

as restated

£

£

166

A shares

£1

166

166

30

B shares

£1

30

30

196

196