NCL (Precision Engineering) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07669663 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2014

FOR

NCL (PRECISION ENGINEERING) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R D Terry

Mrs K J Millman

REGISTERED OFFICE:

15 Bridge Road

Wellington

Telford

Shropshire

TF1 1EB

REGISTERED NUMBER:

07669663 (England and Wales)

ACCOUNTANTS:

D E Ball & Co Limited

Chartered Accountants

15 Bridge Road

Wellington

Telford

Shropshire

TF1 1EB

FIXED ASSETS

Intangible assets

2

35,150

40,232

Tangible assets

3

120,051

121,368

155,201

161,600

CURRENT ASSETS

Stocks

8,014

6,216

Debtors

131,329

106,010

Cash at bank and in hand

201

18,949

139,544

131,175

CREDITORS

Amounts falling due within one year

233,584

207,559

NET CURRENT LIABILITIES

(94,040

)

(76,384

)

TOTAL ASSETS LESS CURRENT LIABILITIES

61,161

85,216

CREDITORS

Amounts falling due after more than one year

-

(6,818

)

PROVISIONS FOR LIABILITIES

(13,700

)

(10,800

)

NET ASSETS

47,461

67,598

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

47,459

67,596

SHAREHOLDERS' FUNDS

47,461

67,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 29th July 2015 and were signed on its behalf by:

Mrs K J Millman - 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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

-

15% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

and 31st July 2014

50,820

AMORTISATION

At 1st August 2013

10,588

Amortisation for year

5,082

At 31st July 2014

15,670

NET BOOK VALUE

At 31st July 2014

35,150

At 31st July 2013

40,232

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

173,070

Additions

32,135

Disposals

(5,000

)

At 31st July 2014

200,205

DEPRECIATION

At 1st August 2013

51,702

Charge for year

30,700

Eliminated on disposal

(2,248

)

At 31st July 2014

80,154

NET BOOK VALUE

At 31st July 2014

120,051

At 31st July 2013

121,368

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

2

Ordinary

£1

2

2

5.	SECURED CREDITORS

Creditors include secured amounts of £60,045 due within one year.