Registered Number 02849780

AIRBENCH LTD

Abbreviated Accounts

30 September 2016

AIRBENCH LTD Registered Number 02849780

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 74,844 46,258
74,844 46,258
Current assets
Stocks 65,368 68,230
Debtors 3 315,408 252,521
Cash at bank and in hand 128,298 133,078
509,074 453,829
Creditors: amounts falling due within one year (265,485) (243,084)
Net current assets (liabilities) 243,589 210,745
Total assets less current liabilities 318,433 257,003
Provisions for liabilities (6,912) -
Total net assets (liabilities) 311,521 257,003
Capital and reserves
Called up share capital 4 10,000 10,000
Profit and loss account 301,521 247,003
Shareholders' funds 311,521 257,003
  • For the year ending 30 September 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 16 June 2017

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 2016

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 January 2015).

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 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.

Stocks
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.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2 Tangible fixed assets
£
Cost
At 1 October 2015 106,199
Additions 55,653
Disposals (11,160)
Revaluations -
Transfers -
At 30 September 2016 150,692
Depreciation
At 1 October 2015 59,941
Charge for the year 18,647
On disposals (2,740)
At 30 September 2016 75,848
Net book values
At 30 September 2016 74,844
At 30 September 2015 46,258
3 Debtors
2016
£
2015
£
Debtors include the following amounts due after more than one year 83,587 83,587
4 Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
10,000 Ordinary shares of £1 each 10,000 10,000

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