The Acme Spring Co Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00254574 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2016

for

THE ACME SPRING CO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P J W Handley

S G Handley

SECRETARY:

P J W Handley

REGISTERED OFFICE:

Bull Lane Works

Brandon Way

West Bromwich

West Midlands

B70 9PQ

REGISTERED NUMBER:

00254574 (England and Wales)

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Tangible assets

2

673,413

701,097

CURRENT ASSETS

Stocks

32,109

25,342

Debtors

385,972

358,568

Cash at bank

253,987

100,821

672,068

484,731

CREDITORS

Amounts falling due within one year

866,762

723,143

NET CURRENT LIABILITIES

(194,694

)

(238,412

)

TOTAL ASSETS LESS CURRENT LIABILITIES

478,719

462,685

PROVISIONS FOR LIABILITIES

27,600

28,850

NET ASSETS

451,119

433,835

CAPITAL AND RESERVES

Called up share capital

3

38,000

Capital redemption reserve

2,337

Profit and loss account

410,782

393,498

SHAREHOLDERS' FUNDS

451,119

433,835

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

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

P J W Handley - 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

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Long leasehold premises are not depreciated as it is the company's policy to maintain its property in good

repair and the life and residual value are such that depreciation would not be material.The Directors carry out

annual impairment reviews to ensure that the recoverable value is greater than the carrying value.

There have been no changes in the bases from the previous year.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value on an item by item basis.

Cost includes direct materials and labour, together with relevant production overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for two directors. The assets of the scheme are

held separately from those of the company in an independently administered fund. The pension charge

represents contributions payable by the company to the scheme. Contributions are charged against profits as

incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

1,077,221

Disposals

(33,770

)

At 31st March 2016

1,043,451

DEPRECIATION

At 1st April 2015

376,124

Charge for year

18,184

Eliminated on disposal

(24,270

)

At 31st March 2016

370,038

NET BOOK VALUE

At 31st March 2016

673,413

At 31st March 2015

701,097

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

38,000

Ordinary

£1

38,000