Company Registration No. 5739569 (England and Wales)
KEIGHTS PRECISION TOOLING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
KEIGHTS PRECISION TOOLING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
KEIGHTS PRECISION TOOLING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
74,960
99,669
Current assets
Debtors
94,450
116,628
Cash at bank and in hand
64,405
35,080
158,855
151,708
Creditors: amounts falling due within one year
(91,430)
(62,506)
Net current assets
67,425
89,202
Total assets less current liabilities
142,385
188,871
Creditors: amounts falling due after more than one year
(34,078)
(61,232)
Provisions for liabilities
(13,516)
(17,691)
94,791
109,948
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
94,789
109,946
Shareholders' funds
94,791
109,948
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 April 2016
Mr N M Keight
Mr S J C Keight
Director
Director
Company Registration No. 5739569
KEIGHTS PRECISION TOOLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
1.5
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
KEIGHTS PRECISION TOOLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
173,434
Additions
276
At 31 March 2016
173,710
Depreciation
At 1 April 2015
73,765
Charge for the year
24,985
At 31 March 2016
98,750
Net book value
At 31 March 2016
74,960
At 31 March 2015
99,669
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2