Registered Number 07265820
METALWORK SYSTEMS LIMITED
Abbreviated Accounts
31 May 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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( |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Motor vehicles 25% on cost
Plant and machinery 20% on cost
Equipment, fixtures and fittings 20% on cost
Valuation information and policy
Stock is valued at the lower of cost and net realisable value.
Other accounting policies
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
Hire purchase and lease transactions
Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated on accordance with the company’s normal policy. The outstanding liabilities under such agreements less interest not yet due are included in the creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.
£ | |
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Cost | |
At 1 June 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 May 2016 |
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Depreciation | |
At 1 June 2015 |
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Charge for the year |
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On disposals |
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At 31 May 2016 |
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Net book values | |
At 31 May 2016 | 36,217 |
At 31 May 2015 | 50,854 |