Precision Engineering Services (Buxton) - Abbreviated accounts 16.3

REGISTERED NUMBER: 07193131 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2016

for

Precision Engineering Services (Buxton)

Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G B Barlow

Mrs P Barlow

C Barlow

REGISTERED OFFICE:

Farriers Croft

Wormhill

Buxton

Derbyshire

SK17 8SL

REGISTERED NUMBER:

07193131 (England and Wales)

ACCOUNTANTS:

Laytons

Chartered Accountants

Registered Auditors

6 Manchester Road

Buxton

Derbyshire

SK17 6SB

FIXED ASSETS

Tangible assets

2

82,470

84,875

CURRENT ASSETS

Stocks

944

816

Debtors

20,046

22,574

Cash at bank

10,837

14,044

31,827

37,434

CREDITORS

Amounts falling due within one year

89,777

94,882

NET CURRENT LIABILITIES

(57,950

)

(57,448

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

24,520

27,427

CAPITAL AND RESERVES

Called up share capital

3

Profit and loss account

24,517

27,424

SHAREHOLDERS' FUNDS

24,520

27,427

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 20th December 2016 and were signed on its
behalf by:

G B Barlow - 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

-

15% on reducing balance

Motor vehicles

-

25% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

173,822

Additions

10,000

At 31st March 2016

183,822

DEPRECIATION

At 1st April 2015

88,947

Charge for year

12,405

At 31st March 2016

101,352

NET BOOK VALUE

At 31st March 2016

82,470

At 31st March 2015

84,875

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

3

Ordinary

£1

3

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year ended 31st March 2016 the company owed £13,852 (2015 £317) to the director C Barlow. The loan

is interest free and repayable on demand.

At the year ended 31st March 2016 the company owed £64,063 (2015 £85,303) to the directors G & P Barlow.

The loan is interest free and repayable on demand.

5.

CONTROL

The company is under the control of the director and share holder C Barlow who owns 100% of the share capital.