Registered Number 02849780

AIRBENCH LTD

Abbreviated Accounts

30 September 2013

AIRBENCH LTD Registered Number 02849780

Abbreviated Balance Sheet as at 30 September 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 25,378 36,795
25,378 36,795
Current assets
Stocks 30,607 29,057
Debtors 3 180,376 156,985
Cash at bank and in hand 211,615 263,087
422,598 449,129
Creditors: amounts falling due within one year (193,817) (203,325)
Net current assets (liabilities) 228,781 245,804
Total assets less current liabilities 254,159 282,599
Provisions for liabilities (2,157) (2,089)
Total net assets (liabilities) 252,002 280,510
Capital and reserves
Called up share capital 4 10,000 10,000
Profit and loss account 242,002 270,510
Shareholders' funds 252,002 280,510
  • For the year ending 30 September 2013 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 12 June 2014

And signed on their behalf by:
S Cook, Director

AIRBENCH LTD Registered Number 02849780

Notes to the Abbreviated Accounts for the period ended 30 September 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, 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 & equipment 15-20% reducing balance
Motor vehicles 25% reducing balance
Office equipment 15% 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.

Stock
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads

Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

2 Tangible fixed assets
£
Cost
At 1 October 2012 71,243
Additions 20,745
Disposals (31,452)
Revaluations -
Transfers -
At 30 September 2013 60,536
Depreciation
At 1 October 2012 34,448
Charge for the year 12,738
On disposals (12,028)
At 30 September 2013 35,158
Net book values
At 30 September 2013 25,378
At 30 September 2012 36,795
3 Debtors
2013
£
2012
£
Debtors include the following amounts due after more than one year 83,587 83,587

Debtors include £83,587 (2012 - £83,587) falling due after more than one year.

4 Called Up Share Capital
Allotted, called up and fully paid:
2013
£
2012
£
10,000 Ordinary shares of £1 each 10,000 10,000

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