Jig Boring Services (Withnell) Limited - Period Ending 2015-05-31

Registration number: 01537153

Jig Boring Services (Withnell) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Howard & Co
10-12 Wellington Street
(St Johns)
Blackburn
Lancashire
BB1 8AG

Jig Boring Services (Withnell) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Jig Boring Services (Withnell) Limited
(Registration number: 01537153)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			204,540			218,277
Current assets
Stocks					5,279			19,531
Debtors					161,003			183,287
Cash at bank and in hand					208,712			197,255
					374,994			400,073
Creditors: Amounts falling due within one year		3			(111,259)			(138,905)
Net current assets					263,735			261,168
Total assets less current liabilities					468,275			479,445
Creditors: Amounts falling due after more than one year		3			(31,836)			(51,182)
Provisions for liabilities					(1,288)			(2,756)
Net assets					435,151			425,507
Capital and reserves
Called up share capital		4			6			6
Capital redemption reserve					4			4
Profit and loss account					435,141			425,497
Shareholders' funds					435,151			425,507

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Jig Boring Services (Withnell) Limited
(Registration number: 01537153)
Abbreviated Balance Sheet at 31 May 2015
......... continued

For the year ending 31 May 2015 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 8 October 2015 and signed on its behalf by:

.........................................
Mr A Winstanley
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Jig Boring Services (Withnell) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Long leasehold property	2% straight line
Plant and machinery	20% reducing balance
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Jig Boring Services (Withnell) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		392,436			392,436
At 31 May 2015		392,436			392,436
Depreciation
At 1 June 2014		174,159			174,159
Charge for the year		13,737			13,737
At 31 May 2015		187,896			187,896
Net book value
At 31 May 2015		204,540			204,540
At 31 May 2014		218,277			218,277

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		18,974			18,602
Amounts falling due after more than one year		31,836			51,182
Total secured creditors		50,810			69,784

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		6			6			6			6

Page 4