| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| FOR |
| TERRASPAN PIPE FITTINGS LIMITED |
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| FOR |
| TERRASPAN PIPE FITTINGS LIMITED |
| TERRASPAN PIPE FITTINGS LIMITED (REGISTERED NUMBER: 00706106) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the year ended 31 December 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| TERRASPAN PIPE FITTINGS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 December 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| TERRASPAN PIPE FITTINGS LIMITED (REGISTERED NUMBER: 00706106) |
| ABBREVIATED BALANCE SHEET |
| 31 December 2015 |
| 31.12.15 | 31.12.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| TERRASPAN PIPE FITTINGS LIMITED (REGISTERED NUMBER: 00706106) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the year ended 31 December 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Turnover |
| Turnover represents amounts receivable for goods and services provided in the UK and overseas net of trade |
| discounts,VAT and other related taxes. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Freehold land and buildings - 1% straight line |
| Fixtures and fittings - 10% reducing balance |
| Motor vehicles - 25% reducing balance |
| Computers - 20% straight line |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is provided using the liability method in respect of all timing differences that have originated but |
| not reversed at the balance sheet date.Deferred tax assets are recognised where it is considered more likely than |
| not that future profits will be available for offset.The company has not adopted a policy of discounting deferred |
| tax assets and liabilities. |
| 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. |
| 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 profit or loss in the period to which they relate. |
| TERRASPAN PIPE FITTINGS LIMITED (REGISTERED NUMBER: 00706106) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the year ended 31 December 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2015 |
| DEPRECIATION |
| At 1 January 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
| value: | £ | £ |
| Ordinary Shares | £1 |