NCL (Precision Engineering) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07669663 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2016

FOR

NCL (PRECISION ENGINEERING) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R D Terry

Mrs K J Millman

REGISTERED OFFICE:

15 Bridge Road

Wellington

Telford

Shropshire

TF1 1EB

REGISTERED NUMBER:

07669663 (England and Wales)

ACCOUNTANTS:

D E Ball & Co Limited

Chartered Accountants

15 Bridge Road

Wellington

Telford

Shropshire

TF1 1EB

FIXED ASSETS

Intangible assets

2

24,986

30,068

Tangible assets

3

63,935

89,551

88,921

119,619

CURRENT ASSETS

Stocks

9,867

7,608

Debtors

124,409

120,187

Cash at bank and in hand

2,201

9,471

136,477

137,266

CREDITORS

Amounts falling due within one year

118,443

157,737

NET CURRENT ASSETS/(LIABILITIES)

18,034

(20,471

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

106,955

99,148

PROVISIONS FOR LIABILITIES

5,800

9,300

NET ASSETS

101,155

89,848

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

101,153

89,846

SHAREHOLDERS' FUNDS

101,155

89,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 22nd September 2017 and were signed on its
behalf by:

Mrs K J Millman - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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

-

15% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

and 31st July 2016

50,820

AMORTISATION

At 1st August 2015

20,752

Amortisation for year

5,082

At 31st July 2016

25,834

NET BOOK VALUE

At 31st July 2016

24,986

At 31st July 2015

30,068

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

199,065

Additions

4,820

At 31st July 2016

203,885

DEPRECIATION

At 1st August 2015

109,514

Charge for year

30,436

At 31st July 2016

139,950

NET BOOK VALUE

At 31st July 2016

63,935

At 31st July 2015

89,551

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

2

Ordinary

£1

2

5.	SECURED CREDITORS

Creditors include secured amounts of £12227 due within one year.