Accounts


	A & Z ENGINEERING (READING) LIMITED


	ABBREVIATED UNAUDITED ACCOUNTS


	FOR THE YEAR ENDED 31 AUGUST 2016
























	INDEX TO THE ACCOUNTS



	Pages

	1	Abbreviated Balance Sheet

	2-5	Notes to the Abbreviated Accounts

A & Z ENGINEERING (READING) LIMITED
Company registered number: 03767979
ABBREVIATED BALANCE SHEET
AT 31 August 2016

	Note		2016	2015
		£	£	£
FIXED ASSETS
Tangible Assets	3		269,290	607,474

CURRENT ASSETS
Stock	1d	26,107		34,227
Debtors falling due within one year		238,747		381,985
Cash at bank and in hand		323,308		-
		588,162		416,212
CREDITORS: Amounts falling due within one year		275,404		339,013
NET CURRENT ASSETS			312,758	77,199
TOTAL ASSETS LESS CURRENT LIABILITIES			582,048	684,673

CREDITORS: Amounts falling due after more than one year			(251,130)	(489,205)

Provisions for Liabilities			(53,858)	(93,279)
NET ASSETS			£277,060	£102,189

CAPITAL AND RESERVES
Called up share capital	5		100	100
Profit and loss account			276,960	102,089
SHAREHOLDERS' FUNDS			£277,060	£102,189


	In approving these financial statements as directors of the company we hereby confirm the following:
	For the Year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

	Directors' responsibilities:
	1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476,
	2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

	These abbreviated accounts were approved by the board of directors on 24 May 2017



	Z Miljus, Director

	The notes on pages 2 to 5 form part of these accounts
	page 1

	NOTES TO THE ABBREVIATED ACCOUNTS
	FOR THE YEAR ENDED 31 AUGUST 2016



1a.	Basis of accounting

	The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).



1b.	Intangible fixed assets: research and development

	Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects.



1c.	Tangible fixed assets

	Fixed assets are shown at historical cost.

	Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.


	Plant and machinery	Reducing balance 25%
	Fixtures and fittings	Reducing balance 15%
	Equipment	Reducing balance 15%



1d.	Stocks

	Stocks are stated at the lower of cost and net realisable value. Cost incurred in bringing each product to its present location and condition is based on purchase cost on a first-in, first-out basis, including transport.



1e.	Taxation

	Corporation tax payable is provided on taxable profits at the current rate. The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.



1f.	Turnover

	Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.

	page 2

	A & Z ENGINEERING (READING) LIMITED
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 AUGUST 2016


1g.	Leasing and hire purchase contracts

	Assets obtained under finance leases and hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

	Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.



1h.	Government grants

	Government grants to assist with the purchase of fixed assets are credited to deferred income, and the related fixed asset is shown in the accounts at full cost. This full cost is depreciated in the accounts. A transfer is made from deferred income to cover the annual depreciation charge relating to the part of the cost financed by the grant.

	.

	page 3

	A & Z ENGINEERING (READING) LIMITED
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 AUGUST 2016



3.	TANGIBLE FIXED ASSETS	2016	2015
		£	£
	Cost

	At 1 September 2015	1,389,069	1,084,166
	Additions	5,000	369,903
	Disposals	(254,304)	(65,000)
	At 31 August 2016	1,139,765	1,389,069

	Depreciation

	At 1 September 2015	781,595	748,522
	Disposals	(46)	(63,688)
	For the Year	88,926	96,761
	At 31 August 2016	870,475	781,595

	Net Book Amounts

	At 31 August 2016	£269,290	£607,474

	Assets held under finance leases or hire purchase contracts

	Included in fixed assets are assets financed by leases or hire purchase contracts of net book value £169,592 (2015 : £545,850).

	Effect of government grants

	The company received a goverment grant of £37,564 in 2013 to assist with the purchase of a new machine, and the remaining balance is shown as deferred income. The depreciation charge shown above was reduced, and the profit for the year was increased by £3,977 due to a transfer out of deferred income. This transfer was made to cover the depreciation relating to the part of the cost of the machine financed by the grant.



4.	CREDITORS
		2016	2015
		£	£
	Creditors include the following amounts of secured liabilities:

	Due within one year	73,726	156,048
	Due after more than one year	131,130	369,205

	page 4

	A & Z ENGINEERING (READING) LIMITED
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 AUGUST 2016



5.	SHARE CAPITAL	2016	2015
		£	£
	Allotted, issued and fully paid:

	100 Ordinary shares of £1 each	£100	£100



6.	TRANSACTIONS WITH AND LOANS TO DIRECTORS

	Loans to directors

	Included in other debtors is a loan to a director. It is unsecured, interest free and repayable on demand. Last year there were no loans to directors.
		2016	2015
		£	£
	Directors current account	17,774	-

page 5