HOCKLEY_PATTERN_&_TOOL_CO - Accounts

NEOS TECHNOLOGIES LIMITED - Company Information

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Company Registration No. 01708663 (England and Wales)

HOCKLEY PATTERN & TOOL CO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

HOCKLEY PATTERN & TOOL CO LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

HOCKLEY PATTERN & TOOL CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,338,440

1,471,492

Current assets

Stocks

139,571

716,939

Debtors

757,936

1,445,028

897,507

2,161,967

Creditors: amounts falling due within one year

(1,322,788)

(2,612,889)

Net current liabilities

(425,281)

(450,922)

Total assets less current liabilities

913,159

1,020,570

Creditors: amounts falling due after more than one year

(263,282)

(277,820)

Provisions for liabilities

(86,021)

(95,336)

563,856

647,414

Capital and reserves

Called up share capital

100,000

Revaluation reserve

102,500

Other reserves

195,000

Profit and loss account

166,356

249,914

Shareholders' funds

563,856

647,414

HOCKLEY PATTERN & TOOL CO LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 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 1 December 2015

Mr G Williams

Director

Company Registration No. 01708663

HOCKLEY PATTERN & TOOL CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Over 50 years

Plant and machinery

5 - 10% straight line

Fixtures, fittings & equipment

10 - 20% straight line

Motor vehicles

25% straight line

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value, taking into account slow moving and obsolete stock. They include direct costs and an appropriate proportion of fixed and variable overheads.

1.7

Revenue recognition

Where a contract straddles the year end the guidelines provided by UITF40 are considered. Judgement will determine substance and materiality of each contract based on percentage of work complete and the contractual relationship with the customer. If deemed necessary an appropriate amount of revenue will be recognised in the year end accounts based on total contract value and percentage complete. Associated costs to date will be charged against this revenue.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

HOCKLEY PATTERN & TOOL CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Accounting policies

(Continued)

- 4 -

1.10

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 or valuation

At 1 April 2014

3,297,229

Additions

36,411

Disposals

(16,000)

At 31 March 2015

3,317,640

Depreciation

At 1 April 2014

1,825,737

On disposals

(16,000)

Charge for the year

169,463

At 31 March 2015

1,979,200

Net book value

At 31 March 2015

1,338,440

At 31 March 2014

1,471,492

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £295,013 (2014 - £488,345).

Share capital

2015

2014

Allotted, called up and fully paid

100,000 Ordinary shares of £1 each

100,000