N.A.B. Precision Tooling Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 00849127 (England and Wales)

N.A.B. PRECISION TOOLING LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

N A Blackwell

Mrs H A Blackwell

SECRETARY:

Mrs H A Blackwell

REGISTERED OFFICE:

Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

REGISTERED NUMBER:

00849127 (England and Wales)

ACCOUNTANTS:

Haines Watts Luton Limited

42 High Street

Flitwick

Bedfordshire

MK45 1DU

FIXED ASSETS

Tangible assets

2

497,291

531,703

CURRENT ASSETS

Stocks

106,606

111,572

Debtors

158,151

171,186

Cash at bank and in hand

500

90,880

265,257

373,638

CREDITORS

Amounts falling due within one year

3

354,180

345,942

NET CURRENT (LIABILITIES)/ASSETS

(88,923

)

27,696

TOTAL ASSETS LESS CURRENT LIABILITIES

408,368

559,399

CREDITORS

Amounts falling due after more than one year

3

(9,498

)

(12,986

)

PROVISIONS FOR LIABILITIES

-

(26,551

)

NET ASSETS

398,870

519,862

CAPITAL AND RESERVES

Called up share capital

4

7,500

7,500

Profit and loss account

391,370

512,362

SHAREHOLDERS' FUNDS

398,870

519,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 16 February 2016 and were signed on its behalf by:

N A Blackwell - 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 invoiced sales of goods, excluding value added tax.

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

-

Straight line over 3-15 years

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

4,858,845

Additions

9,734

At 31 May 2015

4,868,579

DEPRECIATION

At 1 June 2014

4,327,142

Charge for year

44,146

At 31 May 2015

4,371,288

NET BOOK VALUE

At 31 May 2015

497,291

At 31 May 2014

531,703

3.

CREDITORS

Creditors include an amount of £ 83,045 (2014 - £ 48,915 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

7,500

Ordinary

£1

7,500

7,500

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors operate a current account. As at 31 May 2015 there was a balance of £100,941 owed to them

(2014 102,734 credit). No interest is charged on balances outstanding.