N G Automatics Limited - Abbreviated accounts

N G AUTOMATICS LIMITED - Company Information

Registered number

04170526

N G Automatics Limited

Abbreviated Accounts

29 February 2016

N G Automatics Limited
Registered number:		04170526
Abbreviated Balance Sheet
as at 29 February 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	3		961			1,455

Current assets
Debtors		50,339			62,451
Cash at bank and in hand		254,143			201,080
		304,482			263,531

Creditors: amounts falling due within one year		(96,075)			(99,075)

Net current assets			208,407			164,456

Total assets less current liabilities			209,368			165,911


Provisions for liabilities			(200)			(700)


Net assets			209,168			165,211

Capital and reserves
Called up share capital	4		2			2
Profit and loss account			209,166			165,209

Shareholders' funds			209,168			165,211

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mrs R Lendrum
Director
Approved by the board on 12 October 2016

N G Automatics Limited
Notes to the Abbreviated Accounts
for the year ended 29 February 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Motor vehicles			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Intangible fixed assets					£

	Cost
	At 1 March 2015					40,000
	At 29 February 2016					40,000

	Amortisation
	At 1 March 2015					40,000
	At 29 February 2016					40,000

	Net book value
	At 29 February 2016					-


3	Tangible fixed assets					£

	Cost
	At 1 March 2015					2,469
	At 29 February 2016					2,469

	Depreciation
	At 1 March 2015					1,014
	Charge for the year					494
	At 29 February 2016					1,508

	Net book value
	At 29 February 2016					961
	At 28 February 2015					1,455


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2