P & A Precision (Engineering) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02263737 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

P & A PRECISION (ENGINEERING) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G M Deane

REGISTERED OFFICE:

46

Hamilton Square

Birkenhead

Merseyside

CH41 5AR

REGISTERED NUMBER:

02263737 (England and Wales)

ACCOUNTANTS:

McLintocks Limited

Chartered Accountants

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

FIXED ASSETS

Tangible assets

2

26,345

29,742

Investment property

3

235,337

261,682

265,079

CURRENT ASSETS

Stocks

7,059

19,478

Debtors

225,609

245,657

Cash at bank and in hand

27,146

54,373

259,814

319,508

CREDITORS

Amounts falling due within one year

4

71,468

115,946

NET CURRENT ASSETS

188,346

203,562

TOTAL ASSETS LESS CURRENT
LIABILITIES

450,028

468,641

CREDITORS

Amounts falling due after more than
one year

4

(88,263

)

(100,106

)

PROVISIONS FOR LIABILITIES

(5,269

)

(5,948

)

NET ASSETS

356,496

362,587

CAPITAL AND RESERVES

Called up share capital

5

15,000

Profit and loss account

341,496

347,587

SHAREHOLDERS' FUNDS

356,496

362,587

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 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 director on 28 March 2017 and were signed by:

G M Deane - 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 the value of goods supplied and work done during the year, exclusive of

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 etc

-

33% on cost, 25% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in market value is transferred to a revaluation reserve.

Stocks

Stocks and work in progress 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.

Deferred tax

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

reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

181,304

DEPRECIATION

At 1 July 2015

151,562

Charge for year

3,397

At 30 June 2016

154,959

NET BOOK VALUE

At 30 June 2016

26,345

At 30 June 2015

29,742

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 July 2015

and 30 June 2016

235,337

NET BOOK VALUE

At 30 June 2016

235,337

At 30 June 2015

235,337

4.

CREDITORS

Creditors include an amount of £ 101,196 (2015 - £ 112,689 ) for which security has been

given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

32,460

45,816

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

15,000

Ordinary

£1.00

15,000

6.	ULTIMATE PARENT COMPANY

P & A (Holdings) Limited is regarded by the director as being the company's ultimate parent

company.