Hymec Precision Engineering Limited - Limited company - abbreviated - 11.6

Hymec Precision Engineering Limited - Limited company - abbreviated - 11.6

HYMEC PRECISION ENGINEERING LIMITED - Company Information

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REGISTERED NUMBER: 08384551 (England and Wales)









HYMEC PRECISION ENGINEERING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 FEBRUARY 2013 TO 30 JUNE 2014






HYMEC PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08384551)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 FEBRUARY 2013 TO 30 JUNE 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

HYMEC PRECISION ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2013 TO 30 JUNE 2014







DIRECTORS: F K Williams
R Elliott





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: 08384551 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX
Page 1
HYMEC PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08384551)

ABBREVIATED BALANCE SHEET
30 JUNE 2014

Notes £    £   
FIXED ASSETS
Intangible assets 2 14,667
Tangible assets 3 292,065
306,732

CURRENT ASSETS
Stocks 6,390
Debtors 215,533
Cash at bank and in hand 19,544
241,467
CREDITORS
Amounts falling due within one year 337,589
NET CURRENT LIABILITIES (96,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
210,610

CREDITORS
Amounts falling due after more than one
year
(126,692		 )

PROVISIONS FOR LIABILITIES (30,000 )
NET ASSETS 53,918

CAPITAL AND RESERVES
Called up share capital 4 150
Profit and loss account 53,768
53,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2014 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 30 October 2014 and were signed on its behalf by:





R Elliott - Director


The notes form part of these abbreviated accounts

Page 2
HYMEC PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08384551)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 FEBRUARY 2013 TO 30 JUNE 2014

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 April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Sales are recognised once the
goods have been manufactured and despatched to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - Straight line over 5 years
Motor vehicles - Straight line over 3 years

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Work in progress is valued on the basis of direct costs. Provision is made for any foreseeable losses where
appropriate. No element of profit is included in the valuation work in progress.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods
different from those in which they are included in the company's accounts. Deferred tax is provided in full on
timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates
that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no
commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

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.

Page 3 continued...
HYMEC PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08384551)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 1 FEBRUARY 2013 TO 30 JUNE 2014

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
Additions 20,000
At 30 June 2014 20,000
AMORTISATION
Amortisation for period 5,333
At 30 June 2014 5,333
NET BOOK VALUE

At 30 June 2014 14,667

3. TANGIBLE FIXED ASSETS
Total
£   
COST
Additions 354,365
Disposals (6,317 )
At 30 June 2014 348,048
DEPRECIATION
Charge for period 56,242
Eliminated on disposal (259 )
At 30 June 2014 55,983
NET BOOK VALUE
At 30 June 2014 292,065

4. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2014
value £   
50 Ordinary A £1 50
50 Ordinary B £1 50
10 Ordinary C £1 10
10 Ordinary D £1 10
10 Ordinary E £1 10
10 Ordinary F £1 10
10 Ordinary G £1 10
150

The Ordinary A and Ordinary B shares all have full rights, and all other share types have attached to them
dividend rights only.

5. ULTIMATE PARENT COMPANY

Hymec Global Holdings Limited is regarded by the directors as being the company's ultimate parent company.

At the year end the company was a wholly owned subsidiary of Hymec Global Holdings Limited, a company
incorporated on 29 April 2013 in England. The accounts for this company will be available from Companies
House, Crown Way, Cardiff, by 29 January 2015.

Page 4