R A M Machining Limited - Period Ending 2014-06-30

Registration number: 01910504

R A M Machining Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

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 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					14,923			17,557
Current assets
Stocks					556			535
Debtors					36,608			45,700
Cash at bank and in hand					87,263			69,726
					124,427			115,961
Creditors: Amounts falling due within one year					(28,501)			(25,219)
Net current assets					95,926			90,742
Total assets less current liabilities					110,849			108,299
Provisions for liabilities					(2,700)			(3,200)
Net assets					108,149			105,099
Capital and reserves
Called up share capital		3			50			50
Capital redemption reserve					50			50
Profit and loss account					108,049			104,999
Shareholders' funds					108,149			105,099

For the year ending 30 June 2014 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 April 2008).

Approved by the director on 16 October 2014

......................................... 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 2014
......... 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 April 2008).

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 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		48,156			48,156
At 30 June 2014		48,156			48,156
Depreciation
At 1 July 2013		30,599			30,599
Charge for the year		2,634			2,634
At 30 June 2014		33,233			33,233
Net book value
At 30 June 2014		14,923			14,923
At 30 June 2013		17,557			17,557

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		50			50			50			50

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