R. E. C. Engineering Limited - Accounts to registrar (filleted) - small 17.3
R. E. C. Engineering Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| R. E. C. ENGINEERING LIMITED |
| R. E. C. ENGINEERING LIMITED (REGISTERED NUMBER: 05140555) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| R. E. C. ENGINEERING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 30 - 34 North Street |
| Hailsham |
| East Sussex |
| BN27 1DW |
| R. E. C. ENGINEERING LIMITED (REGISTERED NUMBER: 05140555) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| R. E. C. ENGINEERING LIMITED (REGISTERED NUMBER: 05140555) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| R. E. C. Engineering Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
| at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Computer equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| R. E. C. ENGINEERING LIMITED (REGISTERED NUMBER: 05140555) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 3. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| licences |
| £ |
| COST |
| At 1 June 2016 |
| and 31 May 2017 |
| AMORTISATION |
| At 1 June 2016 |
| and 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 June 2016 |
| and 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| and 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| 6. | CURRENT ASSET INVESTMENTS |
| 2017 | 2016 |
| £ | £ |
| Listed investments | 181,378 | 181,172 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| R. E. C. ENGINEERING LIMITED (REGISTERED NUMBER: 05140555) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary A | £1 | 50 | 1 |
| (2016 - 1 ) |
| Ordinary B | £1 | 40 | 1 |
| Ordinary C | £1 | 10 | - |
| 100 | 2 |
| 9. | FIRST YEAR ADOPTION |
| This is the first year that the company has presented its results under FRS102. The last financial |
| statements under the UK GAAP were for the year ended 31 May 2015. The date of transition to FRS |
| 102 was 1 June 2015. No changes were required to the profit for the financial year ended 31 May |
| 2015 or the total equity as at 1 June 2014 and 31 May 2015 between the UK GAAP as previously |
| reported and FRS102 |