Registered Number 04628454
ABSOLUTE INSULATION LIMITED
Abbreviated Accounts
31 January 2012
Notes | 2012 | 2011 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 |
( |
( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 5 |
( |
( |
Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 6 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Other accounting policies
Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the estimated useful economic life of that asset as follows:
Goodwill - Over 3 years
Depreciation
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows:
Office refurbishments - 15% reducing balance
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Investments
Investments are stated at the lower of cost and market value.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and are depreciated in accordance with the above depreciation policies.
Future instalments payable under such agreements, net of finance charges, are included within creditors. Rentals payable are apportioned between the capital element, which reduces the outstanding obligation included within creditors, and the finance element, which is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
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. The assets of the scheme are held separately from those of the company in an independently administered fund.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by the balance sheet date with certain limited exceptions.
Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
£ | |
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Cost | |
At 1 February 2011 |
|
Additions |
|
Disposals |
|
Revaluations |
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Transfers |
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At 31 January 2012 |
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Amortisation | |
At 1 February 2011 |
|
Charge for the year |
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On disposals |
|
At 31 January 2012 |
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Net book values | |
At 31 January 2012 | 10,417 |
At 31 January 2011 | 18,750 |
£ | |
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Cost | |
At 1 February 2011 |
|
Additions |
|
Disposals |
( |
Revaluations |
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Transfers |
|
At 31 January 2012 |
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Depreciation | |
At 1 February 2011 |
|
Charge for the year |
|
On disposals |
( |
At 31 January 2012 |
|
Net book values | |
At 31 January 2012 | 195,817 |
At 31 January 2011 | 172,359 |
4Fixed assets Investments
2012
£ |
2011
£ |
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Secured Debts |
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