P R ENGINEERING LIMITED

P R ENGINEERING LIMITED

P R ENGINEERING LIMITED - Company Information

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P R ENGINEERING LIMITED

Company Registration Number:
02994916 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

P R ENGINEERING LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

P R ENGINEERING LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 150,341 154,292
Total fixed assets: 150,341 154,292
Current assets
Stocks: 156,881 90,475
Debtors:   23,756 42,481
Cash at bank and in hand: 5,179 47,932
Total current assets: 185,816 180,888
Creditors: amounts falling due within one year: 4 (159,449) (126,904)
Net current assets (liabilities): 26,367 53,984
Total assets less current liabilities: 176,708 208,276
Creditors: amounts falling due after more than one year: 5 (59,369) (67,168)
Total net assets (liabilities): 117,339 141,108
Capital and reserves
Called up share capital: 70 100
Other reserves: 30
Profit and loss account: 117,239 141,008
Shareholders funds: 117,339 141,108

The notes form part of these financial statements

P R ENGINEERING LIMITED

Balance sheet statements

For the year ending 31 March 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 December 2018
and signed on behalf of the board by:

Name: I P Roberts
Status: Director

The notes form part of these financial statements

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the value of goods despatched and services rendered by the company in the ordinary course of business to outside clients, excluding Value Added Tax.

Tangible fixed assets and depreciation policy

All fixed assets are initially recorded at cost. Depreciation has been provided at the following rates in order to write off the assets less its estimated residual value over their estimated useful lives:Land & buildings2% straight linePlant & machinery10% straight lineFixtures & fittings10% straight lineComputer equipment33.3% straight line

Other accounting policies

StocksStocks 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. Foreign currenciesMonetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.Leased assetsRentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Employees

2018 2017
Average number of employees during the period 4 5

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Tangible Assets

Total
Cost £
At 01 April 2017 202,585
Additions 1,542
At 31 March 2018 204,127
Depreciation
At 01 April 2017 48,293
Charge for year 5,493
At 31 March 2018 53,786
Net book value
At 31 March 2018 150,341
At 31 March 2017 154,292

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

4. Creditors: amounts falling due within one year note

Creditors: amounts falling due within one year include -Bank loans and overdrafts7,687 Trade creditors70,576 Taxes and social security33,830 Other creditors45,617 Accruals1,739Bank loans and overdrafts include £7,687 for which security has been given

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

5. Creditors: amounts falling due after more than one year note

Creditors: amounts falling due after more than one year include -Bank loans59,369 Aggregate of amounts that fall due for payment after five years23,230 Bank loans and overdrafts include £59,369 for which security has been given

P R ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

6. Related party transactions

Controlling partyThe company considers that the ultimate controlling party is Mr I P Roberts who is a director of the company, by virtue of his 100% shareholding in the company.