WECS Precision Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05114474 (England and Wales)

WECS Precision Limited

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

N J Pooles

SECRETARY:

Mrs A A Pooles

REGISTERED OFFICE:

Blenheim Road

Longmead Industrial Estate

Epsom

Surrey

KT19 9BE

REGISTERED NUMBER:

05114474 (England and Wales)

ACCOUNTANTS:

Langdon West Williams PLC

Curzon House 2nd Floor

24 High Street

Banstead

Surrey

SM7 2LJ

FIXED ASSETS

Intangible assets

2

25,889

64,728

Tangible assets

3

499,137

434,853

525,026

499,581

CURRENT ASSETS

Stocks

35,900

46,687

Debtors

582,472

285,910

Cash at bank and in hand

12,630

201,721

631,002

534,318

CREDITORS

Amounts falling due within one year

405,656

271,958

NET CURRENT ASSETS

225,346

262,360

TOTAL ASSETS LESS CURRENT LIABILITIES

750,372

761,941

CREDITORS

Amounts falling due after more than one year

(35,877

)

(137,057

)

PROVISIONS FOR LIABILITIES

(75,794

)

(57,662

)

NET ASSETS

638,701

567,222

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

637,701

566,222

SHAREHOLDERS' FUNDS

638,701

567,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 22 October 2014 and were signed by:

N J Pooles - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, 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

-

10% on cost and 5% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% 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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

388,385

AMORTISATION

At 1 April 2013

323,657

Amortisation for year

38,839

At 31 March 2014

362,496

NET BOOK VALUE

At 31 March 2014

25,889

At 31 March 2013

64,728

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

690,062

Additions

115,793

At 31 March 2014

805,855

DEPRECIATION

At 1 April 2013

255,209

Charge for year

51,509

At 31 March 2014

306,718

NET BOOK VALUE

At 31 March 2014

499,137

At 31 March 2013

434,853

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

5.	ULTIMATE CONTROLLING PARTY