Almik Engineering Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05096341 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

FOR

ALMIK ENGINEERING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Smith

S. A. Smith

REGISTERED OFFICE:

Unit 22D

Pershore Trading Estate

Pershore

Worcestershire

WR10 2DD

REGISTERED NUMBER:

05096341 (England and Wales)

ACCOUNTANTS:

Allchurch Bailey Limited

Chartered Accountants and Statutory Auditor

Almswood House

93 High Street

Evesham

Worcestershire

WR11 4DU

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

134,141

106,398

134,141

106,398

CURRENT ASSETS

Stocks

15,278

8,361

Debtors

76,129

71,078

Cash at bank and in hand

91,444

137,230

182,851

216,669

CREDITORS

Amounts falling due within one year

4

117,021

117,719

NET CURRENT ASSETS

65,830

98,950

TOTAL ASSETS LESS CURRENT LIABILITIES

199,971

205,348

CREDITORS

Amounts falling due after more than one year

4

(160,948

)

(150,000

)

PROVISIONS FOR LIABILITIES

(25,792

)

(20,015

)

NET ASSETS

13,231

35,333

CAPITAL AND RESERVES

Called up share capital

5

2,000

2,000

Profit and loss account

11,231

33,333

SHAREHOLDERS' FUNDS

13,231

35,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 22 October 2015 and were signed on its behalf by:

S. A. Smith - 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 sales of goods,excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

62,500

AMORTISATION

At 1 July 2014

and 30 June 2015

62,500

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

214,428

Additions

51,535

At 30 June 2015

265,963

DEPRECIATION

At 1 July 2014

108,030

Charge for year

23,792

At 30 June 2015

131,822

NET BOOK VALUE

At 30 June 2015

134,141

At 30 June 2014

106,398

4.

CREDITORS

Creditors include an amount of £ 17,319 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary 'A'

£1

1,000

1,000

1,000

Ordinary 'B'

£1

1,000

1,000

2,000

2,000