Linco Engineering Midlands Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04289717 (England and Wales)

LINCO ENGINEERING MIDLANDS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr C Poole

Mr C Davis

Mrs J Davis

Mrs W L Poole

SECRETARY:

Mr C Poole

REGISTERED OFFICE:

31 St John's

Worcester

Worcestershire

WR2 5AG

REGISTERED NUMBER:

04289717 (England and Wales)

ACCOUNTANTS:

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which the unaudited abbreviated accounts (set out on pages three to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Linco Engineering Midlands Limited for the year ended 31 March 2014 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Linco Engineering Midlands Limited, as a body, in accordance with our terms

of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Linco Engineering

Midlands Limited and state those matters that we have agreed to state to the Board of Directors of Linco Engineering Midlands

Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted

by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our

work or for this report.

It is your duty to ensure that Linco Engineering Midlands Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Linco Engineering Midlands

Limited. You consider that Linco Engineering Midlands Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Linco Engineering Midlands Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you

have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

Date: .............................................

FIXED ASSETS

Intangible assets

2

-

48,126

Tangible assets

3

12,785

15,744

12,785

63,870

CURRENT ASSETS

Stocks

5,752

3,431

Debtors

335,921

309,677

Cash at bank

21

21

341,694

313,129

CREDITORS

Amounts falling due within one year

304,054

326,631

NET CURRENT ASSETS/(LIABILITIES)

37,640

(13,502

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,425

50,368

CAPITAL AND RESERVES

Called up share capital

4

50,000

50,000

Profit and loss account

425

368

SHAREHOLDERS' FUNDS

50,425

50,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 13 October 2014 and were signed on its behalf by:

Mr C Davis - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

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 etc

-

25% on reducing balance and 15% 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

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

550,000

AMORTISATION

At 1 April 2013

501,874

Amortisation for year

48,126

At 31 March 2014

550,000

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

48,126

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

50,384

DEPRECIATION

At 1 April 2013

34,640

Charge for year

2,959

At 31 March 2014

37,599

NET BOOK VALUE

At 31 March 2014

12,785

At 31 March 2013

15,744

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

50,000

Ordinary

1

50,000

50,000

5.	ULTIMATE PARENT COMPANY

Linco Engineers Limted (incorporated in England & Wales ) is regarded by the directors as being the company's ultimate

parent company.