NDB Engineering Limited - Period Ending 2015-06-30

 
 
 
 
 
 
 
  NDB Engineering Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 June 2015
 
  Company Registration Number: 03548331

NDB Engineering Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

NDB Engineering Limited
Abbreviated Balance Sheet
30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					249,027			196,705
Current assets
Stocks					55,000			80,000
Debtors					652,824			616,687
Cash at bank and in hand					1,412			1,218
					709,236			697,905
Creditors: Amounts falling due within one year					(404,861)			(412,570)
Net current assets					304,375			285,335
Total assets less current liabilities					553,402			482,040
Creditors: Amounts falling due after more than one year					(91,953)			(70,412)
Provisions for liabilities					(30,841)			(16,213)
Net assets					430,608			395,415
Capital and reserves
Called up share capital		4			200			200
Profit and loss account					430,408			395,215
Shareholders' funds					430,608			395,415

For the year ending 30 June 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 14 December 2015 and signed on its behalf by:

Mrs L M Baker  Company secretary and director Mr D W Baker  Director	Mr C A Williams  Director
Company Registration Number: 03548331

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

NDB Engineering Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 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 calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.

Asset class	Depreciation method and rate
Plant and Machinery	20% reducing balance
Motor Vehicles	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful economic lives or the lease term, whichever is 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. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Page 2

NDB Engineering Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		695,857			695,857
Additions		110,388			110,388
At 30 June 2015		806,245			806,245
Depreciation
At 1 July 2014		499,152			499,152
Charge for the year		58,066			58,066
At 30 June 2015		557,218			557,218
Net book value
At 30 June 2015		249,027			249,027
At 30 June 2014		196,705			196,705

3

Creditors

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

		2015 £			2014 £
Amounts falling due within one year		166,228			161,037
Amounts falling due after more than one year		91,953			70,412
Total secured creditors		258,181			231,449

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		200			200			200			200

5

Control

The immediate parent company is Cofast Estates Limited a company in which Mr D W Baker, Mrs L M Baker and Mr C A Williams are directors and shareholders .
 

Page 3