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A G Precision Engineering Limited
For the year ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04617704
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A G Precision Engineering Limited
Accountants' Report
For the year ended 31 December 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31
December 2015 and you consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil
your statutory responsibilities, from the accounting records and information and explanations supplied to us.
PJR Accountancy Services
1st Floor Offices
16-18 West Street
Rochford
Essex
SS4 1AJ
26 September 2016
Dated:
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Abbreviated Balance Sheet
A G Precision Engineering Limited
As at 31 December 2015
04617704
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
2,739
3,401
2,739
3,401
Current assets
Stocks
365
-
Debtors
13,170
2,750
Cash at bank and in hand
2,689
74
5,439
13,609
Creditors: amounts falling due within one year
(14,596)
(5,990)
(987)
(551)
Net current liabilities
Total assets less current liabilities
2,188
2,414
Creditors: amounts falling due after more than one year
(1,265)
(1,649)
539
Net assets
1,149
Capital and reserves
Called up share capital
2
2
Profit and loss account
537
1,147
539
1,149
Shareholders funds
For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 26 September 2016
Mr Tony Goulding Director
Signed on behalf of the board of directors
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Notes to the Abbreviated Financial Statements
A G Precision Engineering Limited
For the year ended 31 December 2015
1 Accounting Policies
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
20% Reducing balance
Plant and Machinery
20% Reducing balance
Computer Equipment
20% Reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Notes to the Abbreviated Financial Statements
A G Precision Engineering Limited
For the year ended 31 December 2015
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
34,612
At 01 January 2015
At 31 December 2015
34,612
Depreciation
31,211
At 01 January 2015
662
Charge for year
31,873
At 31 December 2015
Net book values
At 31 December 2015
2,739
3,401
At 31 December 2014
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