R K Precision Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06843335 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

R K PRECISION LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

N F Rimington

S J Keen

SECRETARY:

N F Rimington

REGISTERED OFFICE:

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

REGISTERED NUMBER:

06843335 (England and Wales)

ACCOUNTANTS:

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

FIXED ASSETS

Tangible assets

2

80,604

104,437

CURRENT ASSETS

Stocks

2,000

1,250

Debtors

82,808

55,116

Cash at bank

33,226

44,135

118,034

100,501

CREDITORS

Amounts falling due within one year

72,967

94,270

NET CURRENT ASSETS

45,067

6,231

TOTAL ASSETS LESS CURRENT LIABILITIES

125,671

110,668

CREDITORS

Amounts falling due after more than one year

(16,709

)

(33,077

)

PROVISIONS FOR LIABILITIES

(9,048

)

(12,262

)

NET ASSETS

99,914

65,329

CAPITAL AND RESERVES

Called up share capital

3

110

110

Profit and loss account

99,804

65,219

SHAREHOLDERS' FUNDS

99,914

65,329

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 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 17 December 2014 and were signed on its behalf by:

N F Rimington - 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 goods and labour invoiced, net of 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

160,737

Additions

3,304

At 31 March 2014

164,041

DEPRECIATION

At 1 April 2013

56,300

Charge for year

27,137

At 31 March 2014

83,437

NET BOOK VALUE

At 31 March 2014

80,604

At 31 March 2013

104,437

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

106

Ordinary

£1

106

108

(2013 - 108 )

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

-

1

Ordinary D

£1

1

-

110

110

4.	RELATED PARTY DISCLOSURES

There were no related party transactions in the year.

5.	ULTIMATE CONTROLLING PARTY

No individual had ultimate control of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of R K Precision Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and

other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of R K Precision Limited, as a body, in accordance with our terms

of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R K

Precision Limited and state those matters that we have agreed to state to the Board of Directors of R K Precision

Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified

Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or

for this report.

It is your duty to ensure that R K Precision Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R K Precision

Limited. You consider that R K Precision Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R K Precision Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

17 December 2014