RLI Engineering Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 09453429 (England and Wales)

RLI ENGINEERING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 23 FEBRUARY 2015 TO 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs L E Ingram

Mr R D Ingram

REGISTERED OFFICE:

61 King Edmund Street

Dudley

United Kingdom

West Midlands

DY1 3HT

REGISTERED NUMBER:

09453429 (England and Wales)

ACCOUNTANTS:

Wallace Crooke Walsall Limited

Chartered Accountants

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

FIXED ASSETS

Tangible assets

2

17,524

CURRENT ASSETS

Stocks

38,500

Debtors

47,094

Cash at bank and in hand

6,320

91,914

CREDITORS

Amounts falling due within one year

3

122,285

NET CURRENT LIABILITIES

(30,371

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,847

)

CREDITORS

Amounts falling due after more than one year

3

8,263

NET LIABILITIES

(21,110

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(21,112

)

SHAREHOLDERS' FUNDS

(21,110

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 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 24 October 2016 and were signed on its behalf by:

Mr R D Ingram - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historic cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

This may not be appropriate because at 31 March 2016 the company's liabilities exceeded it's assets

by £21,110. The Director's however believe that with the ongoing support of the company's

shareholders, that it is appropriate to prepare the financial statements on the going concern basis

which assumes the company will continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future,

adjustments would have to be made to reduce balance sheet values of assets to their recoverable

amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long

term liabilities as current assets and liabilities.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

21,973

At 31 March 2016

21,973

DEPRECIATION

Charge for period

4,449

At 31 March 2016

4,449

NET BOOK VALUE

At 31 March 2016

17,524

3.

CREDITORS

Creditors include an amount of £ 44,551 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

2 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.