Hymec Precision Engineering Limited - Accounts to registrar - small 16.3d
Hymec Precision Engineering Limited - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2016 |
| for |
| Hymec Precision Engineering Limited |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Hymec Precision Engineering Limited |
| Company Information |
| for the Year Ended 30 June 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 67 Westow Street |
| Upper Norwood |
| London |
| SE19 3RU |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Balance Sheet |
| 30 June 2016 |
| 30.6.16 | 30.6.15 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Balance Sheet - continued |
| 30 June 2016 |
| 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 |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2016 |
| 1. | STATUTORY INFORMATION |
| Hymec Precision Engineering Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. Sales are recognised once the goods have been |
| manufactured and sent to the customer. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over |
| its estimated useful life of five years. In the current accounting period the goodwill has been impaired to reflect the current |
| value of the asset of £Nil |
| Tangible fixed assets |
| Plant and machinery etc | - | 20% on cost and 15% 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. |
| 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 of work in progress. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date. |
| Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet |
| date that are expected to apply to the reversal of the timing difference. |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2016 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 profit or loss over the relevant period. The capital element of the |
| future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 |
| AMORTISATION |
| At 1 July 2015 |
| Impairments |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2016 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2015 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2015 |
| Transfer to ownership | (246,194 | ) |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Transfer to ownership | (73,134 | ) |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| Hymec Precision Engineering Limited (Registered number: 08384551) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2016 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.16 | 30.6.15 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.16 | 30.6.15 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.16 | 30.6.15 |
| £ | £ |
| Hire purchase contracts |