Abbreviated Company Accounts - PRECISION FABRICATIONS LIMITED

PRECISION FABRICATIONS LIMITED - Company Information

01743572 PRECISION FABRICATIONS LIMITED 2014-08-31 false 2013-09-01 2014-08-31 true 01743572 2013-09-01 2014-08-31 01743572 2014-08-31 01743572 2013-08-31 01743572 uk-gaap-cd-bus:Director1 2013-09-01 2014-08-31 01743572 uk-gaap-cd-bus:Director2 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-31 iso4217:GBP shares

Registered Number 01743572

PRECISION FABRICATIONS LIMITED

Abbreviated Accounts

31 August 2014

PRECISION FABRICATIONS LIMITED Registered Number 01743572

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	13,974	18,632
		13,974	18,632
Current assets
Stocks		1,960	3,865
Debtors		45,741	31,007
Cash at bank and in hand		19,473	26,497
		67,174	61,369
Creditors: amounts falling due within one year		(45,646)	(38,823)
Net current assets (liabilities)		21,528	22,546
Total assets less current liabilities		35,502	41,178
Total net assets (liabilities)		35,502	41,178
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		35,402	41,078
Shareholders' funds		35,502	41,178

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 May 2015

And signed on their behalf by:
P J Hewitt, Director

PRECISION FABRICATIONS LIMITED Registered Number 01743572

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 September 2013	107,255
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	107,255
Depreciation
At 1 September 2013	88,623
Charge for the year	4,658
On disposals	-
At 31 August 2014	93,281
Net book values
At 31 August 2014	13,974
At 31 August 2013	18,632

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100