P & A Precision (Engineering) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02263737 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

FOR

P & A PRECISION (ENGINEERING) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G M Deane

J P Wicklow

REGISTERED OFFICE:

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

REGISTERED NUMBER:

02263737 (England and Wales)

ACCOUNTANTS:

McLintocks Limited

Chartered Accountants

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

FIXED ASSETS

Tangible assets

2

32,251

22,402

Investment property

3

235,337

-

267,588

22,402

CURRENT ASSETS

Stocks

5,664

3,489

Debtors

222,650

330,700

Cash at bank and in hand

243,742

183,006

472,056

517,195

CREDITORS

Amounts falling due within one year

4

229,745

161,400

NET CURRENT ASSETS

242,311

355,795

TOTAL ASSETS LESS CURRENT LIABILITIES

509,899

378,197

CREDITORS

Amounts falling due after more than one year

4

(113,566

)

-

PROVISIONS FOR LIABILITIES

(6,450

)

(4,480

)

NET ASSETS

389,883

373,717

CAPITAL AND RESERVES

Called up share capital

5

15,000

15,000

Profit and loss account

374,883

358,717

SHAREHOLDERS' FUNDS

389,883

373,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 February 2015 and were signed on its behalf by:

G M Deane - Director

J P Wicklow - Director

1.	ACCOUNTING POLICIES

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 April 2008).

Turnover

Turnover represents the value of goods supplied and work done during the year, exclusive of

value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in market value is transferred to a revaluation reserve.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

166,499

Additions

15,564

Disposals

(2,150

)

At 30 June 2014

179,913

DEPRECIATION

At 1 July 2013

144,097

Charge for year

4,339

Eliminated on disposal

(774

)

At 30 June 2014

147,662

NET BOOK VALUE

At 30 June 2014

32,251

At 30 June 2013

22,402

3.	INVESTMENT PROPERTY

Total

£

COST

Additions

235,337

At 30 June 2014

235,337

NET BOOK VALUE

At 30 June 2014

235,337

4.

CREDITORS

Creditors include an amount of £ 124,682 for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

64,487

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

15,000

Ordinary

£1.00

15,000

15,000

6.	ULTIMATE PARENT COMPANY

P & A (Holdings) Limited is regarded by the directors as being the company's ultimate parent

company.