Company Registration No. 05656982 (England and Wales)
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
15,556
1,299
Investments
2
273,412
273,412
288,968
274,711
Current assets
Stocks
139,322
115,057
Debtors
239,834
283,728
Cash at bank and in hand
52,981
34,537
432,137
433,322
Creditors: amounts falling due within one year
3
(534,201)
(566,739)
Net current liabilities
(102,064)
(133,417)
Total assets less current liabilities
186,904
141,294
Creditors: amounts falling due after more than one year
4
(21,100)
(9,068)
Provisions for liabilities
(3,111)
(260)
162,693
131,966
Capital and reserves
Called up share capital
5
150
150
Profit and loss account
162,543
131,816
Shareholders' funds
162,693
131,966
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 16 September 2015
Mr M L Sadler
Mr P S Robinson
Director
Director
Company Registration No. 05656982
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
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 April 2008).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
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
33.3% straight line
Fixtures, fittings & equipment
33.3% straight line
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2014
2,226
273,412
275,638
Additions
15,000
-
15,000
At 31 December 2014
17,226
273,412
290,638
Depreciation
At 1 January 2014
928
-
928
Charge for the year
742
-
742
At 31 December 2014
1,670
-
1,670
Net book value
At 31 December 2014
15,556
273,412
288,968
At 31 December 2013
1,299
273,412
274,711
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Avanti Tapes Limited
England and Wales
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Avanti Tapes Limited
Sales of protective tape
(6,192)
(5,493)
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £161,087 (2013 - £153,554).
INDUSTRIAL ADHESIVE SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 5 -
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £21,100 (2013 - £9,068).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
150 Ordinary shares of £1 each
150
150
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