R A M Machining Limited - Period Ending 2016-06-30

Registration number: 01910504

R A M Machining Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

West House Accountants
Chartered Accountants
14 High Street
Tettenhall
Wolverhampton
West Midlands
WV6 8QT

R A M Machining Limited
(Registration number: 01910504)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,812			12,804
Current assets
Stocks					318			541
Debtors					21,058			35,634
Cash at bank and in hand					96,771			103,895
					118,147			140,070
Creditors: Amounts falling due within one year					(13,689)			(37,728)
Net current assets					104,458			102,342
Total assets less current liabilities					115,270			115,146
Provisions for liabilities					(2,000)			(2,300)
Net assets					113,270			112,846
Capital and reserves
Called up share capital		3			50			50
Capital redemption reserve					50			50
Profit and loss account					113,170			112,746
Shareholders' funds					113,270			112,846

For the year ending 30 June 2016 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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 15 November 2016

......................................... J Southall Director

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

R A M Machining Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... 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 January 2015).

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	15% p.a. reducing balance basis
Fixtures and fittings	33% p.a. straight line basis

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

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.

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R A M Machining Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		48,285			48,285
At 30 June 2016		48,285			48,285
Depreciation
At 1 July 2015		35,481			35,481
Charge for the year		1,992			1,992
At 30 June 2016		37,473			37,473
Net book value
At 30 June 2016		10,812			10,812
At 30 June 2015		12,804			12,804

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		50			50			50			50

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