Frocester Engineering Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04545026 (England and Wales)

FROCESTER ENGINEERING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A J Locke

REGISTERED OFFICE:

Mendip Business Park

Rooksbridge

Somerset

BS26 2UG

REGISTERED NUMBER:

04545026 (England and Wales)

ACCOUNTANTS:

Poole Resources

Chartered Certified Accountants

95 High Street

Street

Somerset

BA16 0EZ

BANKERS:

HSBC Bank plc

30 High Street

Weston-super-Mare

Somerset

BS23 1JE

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

139,632

48,370

Investments

4

60,529

-

200,161

48,370

CURRENT ASSETS

Stocks

41,500

32,550

Debtors

354,986

348,082

Cash at bank

165,068

241,126

561,554

621,758

CREDITORS

Amounts falling due within one year

343,705

270,426

NET CURRENT ASSETS

217,849

351,332

TOTAL ASSETS LESS CURRENT
LIABILITIES

418,010

399,702

CREDITORS

Amounts falling due after more than one
year

(43,488

)

(14,099

)

PROVISIONS FOR LIABILITIES

(25,549

)

(9,674

)

NET ASSETS

348,973

375,929

CAPITAL AND RESERVES

Called up share capital

5

106

102

Share premium

13,634

10,758

Profit and loss account

335,233

365,069

SHAREHOLDERS' FUNDS

348,973

375,929

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27 June 2016 and were signed by:

A J Locke - 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 January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been

amortised evenly over its estimated useful life of three 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.

Property improvements

-

20% on cost

Plant and machinery

-

25% on reducing balance

Office and design equipment

-

25% on reducing balance

Motor vehicles

-

12.5% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

10,000

AMORTISATION

At 1 October 2014

and 30 September 2015

10,000

NET BOOK VALUE

At 30 September 2015

-

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

159,787

Additions

110,350

Disposals

(7,169

)

At 30 September 2015

262,968

DEPRECIATION

At 1 October 2014

111,417

Charge for year

18,249

Eliminated on disposal

(6,330

)

At 30 September 2015

123,336

NET BOOK VALUE

At 30 September 2015

139,632

At 30 September 2014

48,370

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

60,529

At 30 September 2015

60,529

NET BOOK VALUE

At 30 September 2015

60,529

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Associated company

Jetshape Limited

Nature of business: Commercial property rental

%

Class of shares:

holding

Ordinary

30.00

31.12.15

31.12.14

£

Aggregate capital and reserves

172,861

184,424

Profit for the year

25,029

27,368

Frocester Engineering Limited acquired 30% of the issued share capital of Jetshape Limited on 30

June 2015 from an outgoing director. The remaining 70% shareholding was already owned by the

director A J Locke.

The trade and assets of Jetshape Limited were transferred to Frocester Engineering Limited on 1 July

2015 at their net book value which in the opinion of the directors was not significantly different to

open market value at that date.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

106

Ordinary

£1

106

102

(30.9.14 - 102 )

4 Ordinary shares of £1 each were allotted as fully paid at a premium of £719 per share during the

year.