TE-Bar Machine Tool Services Limited |
|
Report to the directors on the preparation of the unaudited abbreviated accounts of TE-Bar Machine Tool Services Limited for the year ended 30 November 2015 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of TE-Bar Machine Tool Services Limited for the year ended 30 November 2015 which comprise of the balance sheet and the related notes 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://rulebook.accaglobal.com/ |
This report is made solely to the Board of Directors of TE-Bar Machine Tool Services Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2009. Our work has been undertaken solely to prepare for your approval the accounts of TE-Bar Machine Tool Services Limited and state those matters that we have agreed to state to the Board of Directors of TE-Bar Machine Tool Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TE-Bar Machine Tool Services Limited and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that TE-Bar Machine Tool Services 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 TE-Bar Machine Tool Services Limited. You consider that TE-Bar Machine Tool Services 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 TE-Bar Machine Tool Services 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 abbreviated accounts. |
|
Robert Cole & Co |
Chartered Certified Accountants |
Office 2 Llynfi Enterprise Centre |
Heol Ty Gwyn Industrial Estate |
Maesteg |
CF34 0BQ |
|
1 July 2016 |
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TE-Bar Machine Tool Services Limited
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Registered number: |
05973354
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Abbreviated Balance Sheet |
as at 30 November 2015
|
|
Notes |
|
|
2015 |
|
|
2014 |
£ |
£ |
Fixed assets |
Intangible assets |
2 |
|
|
46,393 |
|
|
54,126 |
Tangible assets |
3 |
|
|
23,030 |
|
|
34,514 |
|
|
|
|
69,423 |
|
|
88,640 |
|
Current assets |
Stocks |
|
|
80,000 |
|
|
80,000 |
Debtors |
|
|
28,796 |
|
|
43,760 |
|
|
|
108,796 |
|
|
123,760 |
|
Creditors: amounts falling due within one year |
|
|
(135,803) |
|
|
(148,481) |
|
Net current liabilities |
|
|
|
(27,007) |
|
|
(24,721) |
|
Net assets |
|
|
|
42,416 |
|
|
63,919 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
750 |
|
|
750 |
Share premium |
|
|
|
169,380 |
|
|
169,380 |
Profit and loss account |
|
|
|
(127,714) |
|
|
(106,211) |
|
Shareholders' funds |
|
|
|
42,416 |
|
|
63,919 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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|
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|
Mrs C A Morgan |
Director |
Approved by the board on 1 July 2016
|
|
TE-Bar Machine Tool Services Limited
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Notes to the Abbreviated Accounts |
for the year ended 30 November 2015
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|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
|
|
Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% reducing balance & 15% straight line
|
|
Goodwill |
6.67% straight line
|
|
Freehold property |
10% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
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Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Consolidation |
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In the opinion of the Directors, the company and its parent comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts. |
|
|
2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 December 2014 |
115,990 |
|
At 30 November 2015 |
115,990 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 December 2014 |
61,864 |
|
Provided during the year |
7,733 |
|
At 30 November 2015 |
69,597 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2015 |
46,393 |
|
At 30 November 2014 |
54,126 |
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 December 2014 |
191,423 |
|
At 30 November 2015 |
191,423 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2014 |
156,909 |
|
Charge for the year |
11,484 |
|
At 30 November 2015 |
168,393 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2015 |
23,030 |
|
At 30 November 2014 |
34,514 |
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
750 |
|
750 |
|
750 |
|
|
|
|
|
|
|
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