Robson Engineering (Coventry) Ltd - Period Ending 2015-03-31

Registration number: 04253105

Robson Engineering (Coventry) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Chatha & Co
Chartered Certified Accountants
115-116 Spon End
Coventry
West Midlands
CV1 3HF

Robson Engineering (Coventry) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Robson Engineering (Coventry) Ltd
(Registration number: 04253105)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					267,053			290,262
Current assets
Stocks					15,522			16,086
Debtors					41,745			38,862
Cash at bank and in hand					2,262			724
					59,529			55,672
Creditors: Amounts falling due within one year					(130,912)			(135,556)
Net current liabilities					(71,383)			(79,884)
Total assets less current liabilities					195,670			210,378
Creditors: Amounts falling due after more than one year					(86,062)			(87,079)
Provisions for liabilities					(50,519)			(20,739)
Net assets					59,089			102,560
Capital and reserves
Called up share capital		4			30			30
Profit and loss account					59,059			102,530
Shareholders' funds					59,089			102,560

For the year ending 31 March 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 11 December 2015 and signed on its behalf by:

.........................................
Mr C D Robson
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Robson Engineering (Coventry) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 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
Plant and machinery	25% reducing balance
Fixtures, Fitting and equipent	10-25% reducing balance
Moor vehicles	25% reducing balance
Buildings	2% straight line

Stock and work in progress

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Robson Engineering (Coventry) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		615,037			615,037
At 31 March 2015		615,037			615,037
Depreciation
At 1 April 2014		324,775			324,775
Charge for the year		23,209			23,209
At 31 March 2015		347,984			347,984
Net book value
At 31 March 2015		267,053			267,053
At 31 March 2014		290,262			290,262

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		56,080			65,192

Page 3

Robson Engineering (Coventry) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		30			30			30			30

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr C D Robson
£12602 was introduced and £814 repaid during the year. This is a nil interest non instalment loan to the company	(33,442)	-	(21,654)	-
Mr A Robson
£2852 was introduced and £80 repaid during the year. This is a non instament loan to the company at nil interest.	(9,394)	-	(6,622)	-

Page 4