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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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ACREFINE ENGINEERING SERVICES LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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ACREFINE ENGINEERING SERVICES LTD |
ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ACREFINE ENGINEERING SERVICES LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
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ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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BALANCE SHEET |
30 SEPTEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 5 | ( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Profit and loss account | 11 | ( |
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SHAREHOLDERS' FUNDS | ( |
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ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2016 |
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The director acknowledges his 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. |
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The financial statements were approved by the director on
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ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis which the directors consider to be appropriate. In view |
of the company's negative reserves, the company is relying on the continued financial support from its director and |
other creditors. |
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No adjustments have been made to the figures within the financial statements to reflect any adjustments they may be |
required, should the going concern basis not be appropriate. |
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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 January 2015). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
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Turnover |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and |
trade discounts. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period |
of the lease. |
ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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2. | TANGIBLE FIXED ASSETS |
Freehold | Plant & | Motor |
property | Machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2015 |
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Additions |
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At 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Charge for year |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant & | Motor |
Machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 October 2015 |
and 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Charge for year |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors | 120,382 | 101,618 |
Other debtors | 87,843 | 59,081 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Other creditors |
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ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Trade creditors |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Mortgage loan | 58,004 | 67,256 |
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6. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Credit card |
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14,361 | 14,272 |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Mortgage loan | 58,004 | 67,256 |
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7. | OPERATING LEASE COMMITMENTS |
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8. | SECURED DEBTS |
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The bank loan is secured by way of a charge on the company's assets. |
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9. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 October 2015 |
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Credit to Profit and Loss Account during year | ( |
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Balance at 30 September 2016 |
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ACREFINE ENGINEERING SERVICES LTD (REGISTERED NUMBER: 06687139) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | 1 |
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11. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 October 2015 | ( |
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Profit for the year |
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At 30 September 2016 | ( |
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12. | ULTIMATE CONTROLLING PARTY |
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In the opinion of the Director, Mr E Kalafat who holds 91% (2015: 88%) of the shares of the company, is the |
company's ultimate controller. |