C.N.C. Machining Solutions Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06532865

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

C.N.C. MACHINING SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs K M Parker

C A Byrne

J Parker

Mrs C E Byrne

SECRETARY:

Mrs K M Parker

REGISTERED OFFICE:

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

REGISTERED NUMBER:

06532865

ACCOUNTANTS:

Crossfields

Chartered Accountants

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

FIXED ASSETS

Tangible assets

2

325,196

386,358

CURRENT ASSETS

Stocks

180,017

299,013

Debtors

334,316

519,408

Cash at bank

239,902

344,310

754,235

1,162,731

CREDITORS

Amounts falling due within one year

316,616

548,270

NET CURRENT ASSETS

437,619

614,461

TOTAL ASSETS LESS CURRENT
LIABILITIES

762,815

1,000,819

CREDITORS

Amounts falling due after more than one
year

(1,141

)

(36,573

)

PROVISIONS FOR LIABILITIES

(59,343

)

(70,326

)

NET ASSETS

702,331

893,920

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

702,327

893,916

SHAREHOLDERS' FUNDS

702,331

893,920

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 21 September 2016 and were signed on its behalf
by:

C A Byrne - 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).

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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

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 January 2015

and 31 December 2015

674,824

DEPRECIATION

At 1 January 2015

288,466

Charge for year

61,162

At 31 December 2015

349,628

NET BOOK VALUE

At 31 December 2015

325,196

At 31 December 2014

386,358

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

4

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year dividends were paid to directors as follows :-

J Parker - £85000

K Parker - £85000

C A Byrne - £85000

C E Byrne - £85000