P & A Precision (Engineering) Limited - Accounts to registrar (filleted) - small 17.3

P & A Precision (Engineering) Limited - Accounts to registrar (filleted) - small 17.3

P & A PRECISION (ENGINEERING) LIMITED - Company Information

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REGISTERED NUMBER: 02263737 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

P & A PRECISION (ENGINEERING) LIMITED
P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & A PRECISION (ENGINEERING) LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2017







DIRECTOR: G M Deane





REGISTERED OFFICE: 46 Hamilton Square
Birkenhead
Merseyside
CH41 5AR





REGISTERED NUMBER: 02263737 (England and Wales)





ACCOUNTANTS: McLintocks Limited
Chartered Accountants
46 Hamilton Square
Birkenhead
Merseyside
CH41 5AR
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P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

BALANCE SHEET
30 June 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,381 26,345
Investment property 5 250,000 235,337
273,381 261,682

CURRENT ASSETS
Stocks 8,501 7,059
Debtors 6 200,835 225,609
Cash at bank and in hand 21,269 27,146
230,605 259,814
CREDITORS
Amounts falling due within one year 7 52,571 71,468
NET CURRENT ASSETS 178,034 188,346
TOTAL ASSETS LESS CURRENT
LIABILITIES
451,415
450,028

CREDITORS
Amounts falling due after more than
one year
8
(78,651
)
(88,263
)

PROVISIONS FOR LIABILITIES (4,676 ) (5,269 )
NET ASSETS 368,088 356,496

The notes form part of these financial statements

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P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

BALANCE SHEET - continued
30 June 2017

2017 2016
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 353,088 341,496
SHAREHOLDERS' FUNDS 368,088 356,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 March 2018 and were signed by:





G M Deane - Director


The notes form part of these financial statements

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P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2017


1. STATUTORY INFORMATION

P & A Precision (Engineering) Limited is a private company, limited by shares , registered in
England and Wales. The company's registered number and registered office address can be
found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 June 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in
accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 July 2015.

The transition to FRS 102 Section 1A small entities has resulted in no changes in accounting
policies and has therefore had no impact on opening equity and profit for the comparative
period.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the
group.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and
represents amounts receivable for goods supplied and services rendered, stated net of
discounts and of value added tax.

Income is recognised when goods have been delivered to customers such that risks and
rewards of ownership have transferred to them.

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 etc - 30% on cost, 25% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit
arising from changes in fair value is recognised in profit or loss.

-4- continued...
P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2017


2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after
making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and
handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over
the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

-5- continued...
P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2017


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2016
and 30 June 2017 6,750 174,554 181,304
DEPRECIATION
At 1 July 2016 6,748 148,211 154,959
Charge for year - 2,964 2,964
At 30 June 2017 6,748 151,175 157,923
NET BOOK VALUE
At 30 June 2017 2 23,379 23,381
At 30 June 2016 2 26,343 26,345

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2016 235,337
Revaluations 14,663
At 30 June 2017 250,000
NET BOOK VALUE
At 30 June 2017 250,000
At 30 June 2016 235,337

Fair value at 30 June 2017 is represented by:

£   
Valuation in 2017 14,663
Cost 235,337
250,000

-6- continued...
P & A PRECISION (ENGINEERING) LIMITED (REGISTERED NUMBER: 02263737)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2017


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 67,320 86,772
Amounts owed by group undertakings 128,946 6,083
Other debtors 4,569 132,754
200,835 225,609

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 11,554 12,933
Trade creditors 23,556 34,277
Taxation and social security 14,494 10,479
Other creditors 2,967 13,779
52,571 71,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2017 2016
£    £   
Bank loans 78,651 88,263

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 26,213 32,460

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 90,205 101,196

The bank loan is secured on the investment property of the company.

10. ULTIMATE CONTROLLING PARTY

The controlling party is P & A Precision (Holdings) Limited.

The ultimate controlling party is Crofthey Holdings Limited.

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