Company Registration No. 08106095 (England and Wales)
ACCURATE LASER CUTTING (SJS) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ACCURATE LASER CUTTING (SJS) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ACCURATE LASER CUTTING (SJS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
215,252
269,065
Current assets
Stocks
25,008
24,195
Debtors
107,388
205,519
Cash at bank and in hand
31,824
52,252
164,220
281,966
Creditors: amounts falling due within one year
3
(257,246)
(333,911)
Net current liabilities
(93,026)
(51,945)
Total assets less current liabilities
122,226
217,120
Creditors: amounts falling due after more than one year
4
(91,657)
(179,962)
Provisions for liabilities
(460)
(1,873)
30,109
35,285
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
30,009
35,185
Shareholders' funds
30,109
35,285
ACCURATE LASER CUTTING (SJS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 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 27 July 2016
Mr S J Morgan
Mr J Till
Director
Director
Mr S Rolfe
Director
Company Registration No. 08106095
ACCURATE LASER CUTTING (SJS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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:
Plant and machinery
20% Reducing balance
Fixtures, fittings & equipment
20% Reducing balance
Motor vehicles
20% Reducing balance
1.5
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.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ACCURATE LASER CUTTING (SJS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
459,928
Depreciation
At 1 April 2015
190,863
Charge for the year
53,813
At 31 March 2016
244,676
Net book value
At 31 March 2016
215,252
At 31 March 2015
269,065
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £88,858 (2015 - £94,031).
4
Creditors: amounts falling due after more than one year
2016
2015
£
£
Total amounts repayable by instalments which are due in more than five years
17,844
-
The aggregate amount of creditors for which security has been given amounted to £91,657 (2015 - £179,962).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100