Company Registration No. 02171235 (England and Wales)
ALTON PRECISION ENGINEERING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
ALTON PRECISION ENGINEERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ALTON PRECISION ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
368,110
399,516
Current assets
Stocks
2,896
3,000
Debtors
162,269
199,467
Cash at bank and in hand
195,076
275,438
360,241
477,905
Creditors: amounts falling due within one year
3
(191,753)
(265,132)
Net current assets
168,488
212,773
Total assets less current liabilities
536,598
612,289
Creditors: amounts falling due after more than one year
4
(12,400)
(34,902)
Provisions for liabilities
(69,132)
(74,427)
455,066
502,960
Capital and reserves
Called up share capital
5
100
100
Other reserves
200
200
Profit and loss account
454,766
502,660
Shareholders' funds
455,066
502,960
For the financial year ended 31 October 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 16 December 2016
Mr I Walker
Mrs J Walker
Director
Director
Company Registration No. 02171235
ALTON PRECISION ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Fixtures, plant and equipment
10% per annum of net book value
Computer equipment
33.3% per annum of cost
Motor vehicles
25% per annum of net book value
1.4
Leasing and hire purchase commitments
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.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
1.6
Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.
1.7
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
ALTON PRECISION ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015
883,436
Additions
11,208
At 31 October 2016
894,644
Depreciation
At 1 November 2015
483,920
Charge for the year
42,614
At 31 October 2016
526,534
Net book value
At 31 October 2016
368,110
At 31 October 2015
399,516
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £22,502 (2015 - £35,612).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £12,400 (2015 - £34,902).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100