AMETCO_(VALVES)_LIMITED - Accounts

AMETCO (VALVES) LIMITED - Company Information

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Company Registration No. 02051326 (England and Wales)

AMETCO (VALVES) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2014

AMETCO (VALVES) LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

AMETCO (VALVES) LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AMETCO (VALVES) LIMITED FOR THE YEAR ENDED 31 AUGUST 2014

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ametco (Valves) Limited for the year ended 31 August 2014 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Ametco (Valves) Limited, as a body, in accordance with the terms of our engagement letter dated 14 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Ametco (Valves) Limited and state those matters that we have agreed to state to the Board of Directors of Ametco (Valves) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ametco (Valves) Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Ametco (Valves) 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 Ametco (Valves) Limited. You consider that Ametco (Valves) 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 Ametco (Valves) 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.

Nunn Hayward

18 May 2015

Chartered Accountants

63 - 67 Kingston Road

New Malden

Surrey

KT3 3PB

AMETCO (VALVES) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2014

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2014

2013

Notes

Fixed assets

Tangible assets

928

1,393

Current assets

Debtors

110,651

174,070

Cash at bank and in hand

113,858

155,522

224,509

329,592

Creditors: amounts falling due within one year

(99,712)

(199,263)

Net current assets

124,797

130,329

Total assets less current liabilities

125,725

131,722

Capital and reserves

Called up share capital

100

Profit and loss account

125,625

131,622

Shareholders' funds

125,725

131,722

For the financial year ended 31 August 2014 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 18 May 2015

G J Grzesiczek

Director

Company Registration No. 02051326

AMETCO (VALVES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

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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 April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods net of VAT, and is recognised when goods are despatched to the customer.

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:

Land and buildings Leasehold

20% on cost

Fixtures, fittings & equipment

20% on cost

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 September 2013 & at 31 August 2014

25,769

Depreciation

At 1 September 2013

24,377

Charge for the year

464

At 31 August 2014

24,841

Net book value

At 31 August 2014

928

At 31 August 2013

1,393

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100