Ideal Hose & Safety Limited - Period Ending 2014-12-31

Ideal Hose & Safety Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

Ideal Hose & Safety Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ideal Hose & Safety Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ideal Hose & Safety Limited for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/rules-standards/acca-rulebook.html .

This report is made solely to the Board of Directors of Ideal Hose & Safety Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ideal Hose & Safety Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ideal Hose & Safety Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ideal Hose & Safety Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ideal Hose & Safety Limited. You consider that Ideal Hose & Safety Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ideal Hose & Safety Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

19 March 2015

Page 1

Ideal Hose & Safety Limited
(Registration number: 02154815)
Abbreviated Balance Sheet at 31 December 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets		60,952	62,885
Current assets
Stocks		187,802	221,004
Debtors	3	344,199	482,862
Cash at bank and in hand		24,909	50,203
		556,910	754,069
Creditors: Amounts falling due within one year		(263,094)	(423,628)
Net current assets		293,816	330,441
Total assets less current liabilities		354,768	393,326
Creditors: Amounts falling due after more than one year		(281,098)	(262,213)
Provisions for liabilities		(11,641)	(11,907)
Net assets		62,029	119,206
Capital and reserves
Called up share capital	4	30,000	30,000
Profit and loss account		32,029	89,206
Shareholders' funds		62,029	119,206

For the year ending 31 December 2014 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 19 March 2015 and signed on its behalf by:

.........................................
Mr. S.M. Daly
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Ideal Hose & Safety Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

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

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor Vehicles	20% Straight Line
Plant and Machinery	10% W.D.V.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Ideal Hose & Safety Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 January 2014	178,455	178,455
Additions	5,540	5,540
At 31 December 2014	183,995	183,995
Depreciation
At 1 January 2014	115,570	115,570
Charge for the year	7,473	7,473
At 31 December 2014	123,043	123,043
Net book value
At 31 December 2014	60,952	60,952
At 31 December 2013	62,885	62,885

Debtors

Debtors includes £189,668 (2013 - £190,634) receivable after more than one year.

4	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary Shares of £1 each		30,000	30,000		30,000	30,000

Control

The company is controlled by B.K.Marketing Limited.

Page 4