C.N.C. Machining Solutions Limited - Accounts to registrar (filleted) - small 18.1

C.N.C. Machining Solutions Limited - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 06532865 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

C.N.C. MACHINING SOLUTIONS LIMITED

C.N.C. MACHINING SOLUTIONS LIMITED (REGISTERED NUMBER: 06532865)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C.N.C. MACHINING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTORS: Mrs K M Parker
C A Byrne
J Parker
Mrs C E Byrne





SECRETARY: Mrs K M Parker





REGISTERED OFFICE: 85/87 High Street West
Glossop
Derbyshire
SK13 8AZ





REGISTERED NUMBER: 06532865 (England and Wales)





ACCOUNTANTS: Crossfields
Chartered Accountants
85/87 High Street West
Glossop
Derbyshire
SK13 8AZ

C.N.C. MACHINING SOLUTIONS LIMITED (REGISTERED NUMBER: 06532865)

BALANCE SHEET
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 231,091 274,005

CURRENT ASSETS
Stocks 106,007 70,417
Debtors 5 175,399 191,712
Cash at bank 274,275 373,557
555,681 635,686
CREDITORS
Amounts falling due within one year 6 214,878 216,631
NET CURRENT ASSETS 340,803 419,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

571,894

693,060

PROVISIONS FOR LIABILITIES 8 40,269 50,130
NET ASSETS 531,625 642,930

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 531,621 642,926
SHAREHOLDERS' FUNDS 531,625 642,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 May 2018 and were signed on its behalf by:



C A Byrne - Director


C.N.C. MACHINING SOLUTIONS LIMITED (REGISTERED NUMBER: 06532865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. STATUTORY INFORMATION

C.N.C. Machining Solutions 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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.

C.N.C. MACHINING SOLUTIONS LIMITED (REGISTERED NUMBER: 06532865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2016 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2017
and 31 December 2017 616,278 54,846 3,700 674,824
DEPRECIATION
At 1 January 2017 361,204 37,492 2,123 400,819
Charge for year 38,261 4,338 315 42,914
At 31 December 2017 399,465 41,830 2,438 443,733
NET BOOK VALUE
At 31 December 2017 216,813 13,016 1,262 231,091
At 31 December 2016 255,074 17,354 1,577 274,005

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 166,332 180,837
Other debtors 9,067 10,875
175,399 191,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Hire purchase contracts (see note 7) - 951
Trade creditors 120,508 105,662
Taxation and social security 74,380 93,771
Other creditors 19,990 16,247
214,878 216,631

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2017 2016
£    £   
Net obligations repayable:
Within one year - 951

C.N.C. MACHINING SOLUTIONS LIMITED (REGISTERED NUMBER: 06532865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

7. LEASING AGREEMENTS - continued

Non-cancellable operating
leases
2017 2016
£    £   
Within one year 21,632 21,632
Between one and five years 10,816 32,448
32,448 54,080

8. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax 40,269 50,130

Deferred Deferred
tax tax
£    £   
Balance at 1 January 2017 50,130 59,343
Accelerated capital allowances (9,861 ) (9,213 )
Balance at 31 December 2017 40,269 50,130

All deferred taxation relates to capital allowances.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year dividends were paid to directors as follows :-

J Parker - £60000
K Parker - £60000
C A Byrne - £60000
C E Byrne - £60000