Abbreviated Company Accounts - PRECISION FABRICATIONS LIMITED

PRECISION FABRICATIONS LIMITED - Company Information

01743572 PRECISION FABRICATIONS LIMITED 2016-08-31 false 2015-09-01 2016-08-31 true 01743572 2015-09-01 2016-08-31 01743572 2016-08-31 01743572 2015-08-31 01743572 uk-gaap-cd-bus:Director1 2015-09-01 2016-08-31 01743572 uk-gaap-cd-bus:Director2 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 iso4217:GBP shares

Registered Number 01743572

PRECISION FABRICATIONS LIMITED

Abbreviated Accounts

31 August 2016

PRECISION FABRICATIONS LIMITED Registered Number 01743572

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	51,860	70,683
		51,860	70,683
Current assets
Stocks		4,700	2,000
Debtors		66,139	51,501
		70,839	53,501
Creditors: amounts falling due within one year		(110,386)	(70,551)
Net current assets (liabilities)		(39,547)	(17,050)
Total assets less current liabilities		12,313	53,633
Creditors: amounts falling due after more than one year		(25,928)	(42,303)
Total net assets (liabilities)		(13,615)	11,330
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(13,715)	11,230
Shareholders' funds		(13,615)	11,330

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 directors acknowledge their 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 Board on 31 May 2017

And signed on their behalf by:
P J Hewitt, Director

PRECISION FABRICATIONS LIMITED Registered Number 01743572

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 September 2015	168,325
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2016	168,325
Depreciation
At 1 September 2015	97,642
Charge for the year	18,823
On disposals	-
At 31 August 2016	116,465
Net book values
At 31 August 2016	51,860
At 31 August 2015	70,683

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100