As at
Notes |
13 months to 30 Sep 2016 £ |
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Fixed assets | ||
Tangible assets: | 2 |
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Total fixed assets: |
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Current assets | ||
Stocks: |
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Debtors: | 3 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 4 |
(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 5 |
(
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Provision for liabilities: |
(
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Total net assets (liabilities): |
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The notes form part of these financial statements
As at 30 September 2016
Notes |
13 months to 30 Sep 2016 £ |
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Capital and reserves | ||
Called up share capital: | 6 |
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Profit and loss account: |
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Shareholders funds: |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 September 2016
Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention modified and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover policy
Tangible fixed assets depreciation policy
Dies and tools - 20% per annum of cost
Equipment - 20% per annum of cost
depreciation is calculated from the date of purchase of the asset.
Tangible fixed assets acquired under the finance leases and hire purchase contracts are capitalised at the estimated fair value at the date of inception of each lease or contract. The total finance charges are allocated over the period of the lease in such a way as to give a reasonably constant charge on the outstanding liability.
Other accounting policies
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
All materials are purchased for specific contracts.
Work in progress is the cost of direct materials and labour plus attributable overheads based on a normal level of activity.
Long term contracts
Profit on long term contracts is taken as the work is carried out if the final outcome can be seen with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the period end by recording turnover and related costs as activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total costs expected for that contract.
Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the period in which they are first foreseen. Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for
contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.
Deferred taxation
Deferred taxation is provided on the liability method in respect of the taxation effect of all timing differences to the extent that tax liabilities are likely to crystallise in the foreseeable future.
Foreign currencies
Transactions expressed in foreign currencies are translated into sterling and recorded at rates of exchange approximating to those ruling at the date of thentransaction. Monetary assets and liabilities are translated at rates ruling at the balance sheet date. All differences are taken to the profit and loss account.
Trade creditors
Some of the purchases of goods by the company are made on the terms that ownership of the goods shall, in general, not pass until payment. The financial statements are nevertheless drawn up on the basis that the ownership will be established in the normal course of trading.
for the Period Ended 30 September 2016
Total | |
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Cost | £ |
Additions: |
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Disposals: |
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Revaluations: |
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Transfers: |
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30 September 2016: |
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Depreciation | |
Charge for year: |
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On disposals: |
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Other adjustments: |
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30 September 2016: |
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Net book value | |
30 September 2016: |
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for the Period Ended 30 September 2016
13 months to 30 Sep 2016 £ |
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Prepayments and accrued income: |
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Other debtors: |
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Total: |
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for the Period Ended 30 September 2016
13 months to 30 Sep 2016 £ |
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Bank loans and overdrafts: |
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Trade creditors: |
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Taxation and social security: |
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Other creditors: |
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Total: |
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for the Period Ended 30 September 2016
13 months to 30 Sep 2016 £ |
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Bank loans and overdrafts: |
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Total: |
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