Autotech Cylinder Heads Ltd - Accounts to registrar - small 16.3

REGISTERED NUMBER: 09082368 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2016

for

Autotech Cylinder Heads Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I Beswick

REGISTERED OFFICE:

The Middleway

Middleway

St Blazey

Par

Cornwall

PL24 2JH

REGISTERED NUMBER:

09082368 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Tangible assets

4

51,249

56,078

CURRENT ASSETS

Stocks

5

31,835

23,500

Debtors

6

3,698

2,599

Cash at bank

306

14,949

35,839

41,048

CREDITORS

Amounts falling due within one year

7

73,192

70,982

NET CURRENT LIABILITIES

(37,353

)

(29,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,896

26,144

CREDITORS

Amounts falling due after more than one year

8

11,207

15,389

NET ASSETS

2,689

10,755

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,589

10,655

SHAREHOLDERS' FUNDS

2,689

10,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 16 December 2016 and were signed by:

I Beswick - Director

1.	STATUTORY INFORMATION

Autotech Cylinder Heads Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has assessed going concern and considers that there are no material uncertainties which may cast

significant doubt about the company's ability to continue. As a result, the financial statements have been

prepared using the going concern basis of accounting.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the

company obtains the right to consideration.

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

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2015

65,974

Additions

916

At 30 June 2016

66,890

DEPRECIATION

At 1 July 2015

9,896

Charge for year

5,745

At 30 June 2016

15,641

NET BOOK VALUE

At 30 June 2016

51,249

At 30 June 2015

56,078

5.

STOCKS

30.6.16

30.6.15

£

£

Stocks

31,835

23,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Other debtors

-

1,921

Prepayments

3,698

678

3,698

2,599

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Bank loans and overdrafts

16,811

4,185

Other loans

12,578

16,033

Hire purchase contracts

4,219

3,878

Trade creditors

3,667

6,330

VAT

8,475

8,032

Other creditors

926

4,844

Directors' current accounts

25,116

25,386

Accrued expenses

1,400

2,294

73,192

70,982

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.16

30.6.15

£

£

Hire purchase contracts

11,207

15,389

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has given a personal guarantee against "Other loans" shown within creditors above in the sum of

£12,578.

10.	RELATED PARTY DISCLOSURES

Included within creditors is a balance of £25,116 due to the director, Mr I Beswick. No interest has been charged

and is repayable at any time.

During the year a salary of £8,060 was paid to the director.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Beswick.

12.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) as at 1st

January 2014.

The impact from the transition has been reviewed for transitional adjustments, of which there are none.