Hi-Spec Engineering Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03901142 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

Hi-Spec Engineering Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G E Cooke

Mrs R Cooke

P Mathar

SECRETARY:

Mrs M Cooke

REGISTERED OFFICE:

Unit 9 Windmill Industrial Estate

Windmill

Fowey

Cornwall

PL23 1HB

REGISTERED NUMBER:

03901142 (England and Wales)

ACCOUNTANTS:

Bourne & Co.

Chartered Accountants

3 Charnwood Street

Derby

Derbyshire

DE1 2GY

FIXED ASSETS

Tangible assets

2

10,736

4,338

CURRENT ASSETS

Stocks

25,000

13,500

Debtors

93,013

51,643

Cash at bank and in hand

95,836

106,260

213,849

171,403

CREDITORS

Amounts falling due within one year

56,458

55,256

NET CURRENT ASSETS

157,391

116,147

TOTAL ASSETS LESS CURRENT LIABILITIES

168,127

120,485

PROVISIONS FOR LIABILITIES

215

329

NET ASSETS

167,912

120,156

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

167,812

120,056

SHAREHOLDERS' FUNDS

167,912

120,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 11 May 2017 and were signed on its behalf by:

G E Cooke - 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 net invoiced sales of goods, excluding 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.

Fixtures,fittings & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

18,809

Additions

11,500

Disposals

(14,774

)

At 30 September 2016

15,535

DEPRECIATION

At 1 October 2015

14,471

Charge for year

3,130

Eliminated on disposal

(12,802

)

At 30 September 2016

4,799

NET BOOK VALUE

At 30 September 2016

10,736

At 30 September 2015

4,338

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100