| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 |
| FOR |
| DURAWELD LIMITED |
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 |
| FOR |
| DURAWELD LIMITED |
| DURAWELD LIMITED (REGISTERED NUMBER: 07027865) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the year ended 31 December 2012 |
| Page |
| Abbreviated Balance Sheet | 1 |
| Notes to the Abbreviated Accounts | 2 |
| DURAWELD LIMITED (REGISTERED NUMBER: 07027865) |
| ABBREVIATED BALANCE SHEET |
| 31 December 2012 |
| 2012 | 2011 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors on |
| DURAWELD LIMITED (REGISTERED NUMBER: 07027865) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the year ended 31 December 2012 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements 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 goods and services supplied, excluding value added tax, and trade discounts. |
| Goodwill |
| Negative goodwill arising on the acquisition of the trade during the period ended 31 December 2010 represents the excess of |
| the fair value of assets acquired over the cost of the acquisition. Negative goodwill has been fully amortised in the profit and |
| loss account in the period of acquisition. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Motor vehicles | 50% | on cost |
| Plant and machinery | 25% | on cost |
| Fixtures, fittings, and computer equipment | 33% | on cost |
| Property improvements | 3% | on cost |
| Stocks |
| Stocks and work-in-progress are valued at the lower of cost and net realisable value. Residual stocks of raw materials |
| remaining from completed production orders have not been valued. |
| Deferred tax |
| The general principle is that deferred tax is recognised as a liability or asset if the transactions or events that give an |
| obligation to pay more tax in future or a right to pay less tax in future have occurred by the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
| Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
| Exchange differences are taken into account in arriving at the operating result. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2012 |
| and 31 December 2012 | ( |
) |
| AMORTISATION |
| At 1 January 2012 |
| and 31 December 2012 | ( |
) |
| NET BOOK VALUE |
| At 31 December 2012 |
| At 31 December 2011 |
| DURAWELD LIMITED (REGISTERED NUMBER: 07027865) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the year ended 31 December 2012 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2012 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2012 |
| DEPRECIATION |
| At 1 January 2012 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2012 |
| NET BOOK VALUE |
| At 31 December 2012 |
| At 31 December 2011 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2012 | 2011 |
| value: | £ | £ |
| Ordinary "A" shares | £1 |
| Ordinary "B" shares | £1 |
| 10,000 | 10,000 |
| 6. | TRANSACTIONS WITH DIRECTORS |
| The following loan to directors subsisted during the years ended 31 December 2012 and 31 December 2011: |
| 2012 | 2011 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |