R.P. Precision Tools Limited - Period Ending 2016-08-31

Registration number: 02807194

R.P. Precision Tools Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

R.P. Precision Tools Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

R.P. Precision Tools Limited
(Registration number: 02807194)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			342,940			342,940
Current assets
Debtors					19,750			19,750
Cash at bank and in hand					87,358			24,497
					107,108			44,247
Creditors: Amounts falling due within one year					(44,733)			(11,425)
Net current assets					62,375			32,822
Total assets less current liabilities					405,315			375,762
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					405,313			375,760
Shareholders' funds					405,315			375,762

For the year ending 31 August 2016 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 .

Approved by the director on 1 February 2017

.........................................
R G Pearce
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

R.P. Precision Tools Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the hiring out of plant and equipment 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	25% straight line basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		883,538			883,538
At 31 August 2016		883,538			883,538
Depreciation
At 1 September 2015		540,598			540,598
At 31 August 2016		540,598			540,598
Net book value
At 31 August 2016		342,940			342,940
At 31 August 2015		342,940			342,940

Page 2

R.P. Precision Tools Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4

Control

The company is controlled by R G Pearce and Mrs P J Pearce by virtue of their shareholding.

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