false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-05-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
67,000
51,101
3,974
55,075
11,925
15,899
xbrli:pure
xbrli:shares
iso4217:GBP
06878541
2016-05-01
2017-04-30
06878541
2017-04-30
06878541
2016-04-30
06878541
2016-04-30
06878541
core:PlantMachinery
2016-05-01
2017-04-30
06878541
bus:LeadAgentIfApplicable
2016-05-01
2017-04-30
06878541
bus:Director1
2016-05-01
2017-04-30
06878541
core:PlantMachinery
2016-04-30
06878541
core:PlantMachinery
2017-04-30
06878541
core:WithinOneYear
2017-04-30
06878541
core:WithinOneYear
2016-04-30
06878541
core:ShareCapital
2017-04-30
06878541
core:ShareCapital
2016-04-30
06878541
core:RetainedEarningsAccumulatedLosses
2017-04-30
06878541
core:RetainedEarningsAccumulatedLosses
2016-04-30
06878541
core:PlantMachinery
2016-04-30
06878541
bus:FRS102
2016-05-01
2017-04-30
06878541
bus:AuditExemptWithAccountantsReport
2016-05-01
2017-04-30
06878541
bus:FullAccounts
2016-05-01
2017-04-30
06878541
bus:SmallCompaniesRegimeForAccounts
2016-05-01
2017-04-30
06878541
bus:PrivateLimitedCompanyLtd
2016-05-01
2017-04-30
COMPANY REGISTRATION NUMBER:
06878541
A5 Precision Tooling Limited
|
|
Filleted Unaudited Financial Statements
|
|
A5 Precision Tooling Limited
|
|
Year ended 30 April 2017
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
3
|
|
|
A5 Precision Tooling Limited
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
A5 Precision Tooling Limited
|
|
Year ended 30 April 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A5 Precision Tooling Limited for the year ended 30 April 2017, which comprise the statement of financial position 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of A5 Precision Tooling Limited in accordance with the terms of our engagement letter dated 11 April 2016. Our work has been undertaken solely to prepare for your approval the financial statements of A5 Precision Tooling Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A5 Precision Tooling Limited and its director for our work or for this report.
It is your duty to ensure that A5 Precision Tooling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A5 Precision Tooling Limited. You consider that A5 Precision Tooling 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 financial statements of A5 Precision Tooling 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 statutory financial statements.
EDWARDS PEARSON & WHITE LLP
Chartered Certified Accountants
Warwick & Coventry
19 January 2018
A5 Precision Tooling Limited
|
|
Statement of Financial Position
|
|
30 April 2017
Fixed assets
Tangible assets
|
4
|
|
11,925
|
15,899
|
|
|
|
|
|
Current assets
Debtors
|
5
|
54,362
|
|
54,861
|
Cash at bank and in hand
|
35
|
|
35
|
|
-------
|
|
-------
|
|
54,397
|
|
54,896
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
18,734
|
|
19,356
|
|
-------
|
|
-------
|
Net current assets
|
|
35,663
|
35,540
|
|
|
-------
|
-------
|
Total assets less current liabilities
|
|
47,588
|
51,439
|
|
|
-------
|
-------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
47,587
|
51,438
|
|
|
-------
|
-------
|
Shareholders funds
|
|
47,588
|
51,439
|
|
|
-------
|
-------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
18 January 2018
, and are signed on behalf of the board by:
Company registration number:
06878541
A5 Precision Tooling Limited
|
|
Notes to the Financial Statements
|
|
Year ended 30 April 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Jury Street, Warwick, CV34 4EW. The company trades from Sketchley Meadows Sketchley Lane Industrial Estate, Burbage, Hinckley, LE10 3EN.
2.
Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. The significant judgements, estimates and assumptions are: - Trade debtors and amounts owed by group and associated undertakings At each reporting date, amounts owed by trade debtors and group and associated undertakings are assessed for recoverability. If there is any evidence of impairment, the carrying amount of the debtor is reduced to its recoverable amount. The impairment loss is recognised immediately in the statement of comprehensive income. - Revenue recognition As explained in note 1, contract revenues are recognised based on stage of completion. The application of this accounting policy requires the state of completion on contracts to be assessed. Surveys of work performed are carried out by qualified surveyors. An inherent degree of judgement will exist in determining the stage of completion on a contract at a given time. - Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessment consider issues such as future market conditions, the remaining life of the asset and projected disposal values. - Stocks At each reporting date, the amounts in stock are assessed for recoverability. If there is any evidence of impairment the carrying amount of the stock is reduced to its recoverable amount. The impairment loss is recognised immediately in the statement of comprehensive income.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and Machinery
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Tangible assets
|
Plant and machinery
|
Total
|
|
£
|
£
|
Cost
|
|
|
At 1 May 2016 and 30 April 2017
|
67,000
|
67,000
|
|
-------
|
-------
|
Depreciation
|
|
|
At 1 May 2016
|
51,101
|
51,101
|
Charge for the year
|
3,974
|
3,974
|
|
-------
|
-------
|
At 30 April 2017
|
55,075
|
55,075
|
|
-------
|
-------
|
Carrying amount
|
|
|
At 30 April 2017
|
11,925
|
11,925
|
|
-------
|
-------
|
At 30 April 2016
|
15,899
|
15,899
|
|
-------
|
-------
|
|
|
|
5.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
53,359
|
54,861
|
Other debtors
|
1,003
|
–
|
|
-------
|
-------
|
|
54,362
|
54,861
|
|
-------
|
-------
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Corporation tax
|
–
|
851
|
Other creditors
|
18,734
|
18,505
|
|
-------
|
-------
|
|
18,734
|
19,356
|
|
-------
|
-------
|
|
|
|
7.
Related party transactions
The company was under the control of P Towers throughout the current and previous year. P Towers is the managing director and sole shareholder. P. Towers and the company are both members of Mycott Manufacturing LLP. The company is due £56,015 (2016: £56,015) in respect of profits from Mycott Manufacturing LLP at the year end. P. Towers and the company are also both members of Mycott LLP. The company owes £2,656 (2016: £1,154) to Mycott LLP at the year end.
8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.
No transitional adjustments were required in equity or profit or loss for the year.