Registered Number NI054604

AGNEW GENERAL ENGINEERING LIMITED

Abbreviated Accounts

31 July 2016

AGNEW GENERAL ENGINEERING LIMITED Registered Number NI054604

Abbreviated Balance Sheet as at 31 July 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 30,162 33,513
Tangible assets 3 91,599 101,312
121,761 134,825
Current assets
Stocks 65,000 79,840
Debtors 101,692 118,720
Cash at bank and in hand 121,154 98,895
287,846 297,455
Creditors: amounts falling due within one year (97,785) (90,642)
Net current assets (liabilities) 190,061 206,813
Total assets less current liabilities 311,822 341,638
Provisions for liabilities (17,701) (17,894)
Accruals and deferred income (21,913) (29,218)
Total net assets (liabilities) 272,208 294,526
Capital and reserves
Called up share capital 2 2
Profit and loss account 272,206 294,524
Shareholders' funds 272,208 294,526
  • For the year ending 31 July 2016 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.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 11 October 2016

And signed on their behalf by:
Mr. Gerard Agnew, Director
Mrs. Kathleen Agnew, Director

AGNEW GENERAL ENGINEERING LIMITED Registered Number NI054604

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets depreciation policy
Plant and machinery - 25% Reducing Balance
Fixtures, fittings and equipment - 25% Reducing Balance
Motor Vehicles - 25% Reducing Balance

Intangible assets amortisation policy
Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 15 years, which is estimated to be the period during which benefits are expected to arise.

Other accounting policies
Contingent Liabilities
The company has a contingent liability to repay some government grants if certain conditions are not met, but in the opinion of the directors, these circumstances are unlikely to occur.

2Intangible fixed assets
£
Cost
At 1 August 2015 50,268
Additions -
Disposals -
Revaluations -
Transfers -
At 31 July 2016 50,268
Amortisation
At 1 August 2015 16,755
Charge for the year 3,351
On disposals -
At 31 July 2016 20,106
Net book values
At 31 July 2016 30,162
At 31 July 2015 33,513
3Tangible fixed assets
£
Cost
At 1 August 2015 316,261
Additions 18,689
Disposals -
Revaluations -
Transfers -
At 31 July 2016 334,950
Depreciation
At 1 August 2015 214,949
Charge for the year 28,402
On disposals -
At 31 July 2016 243,351
Net book values
At 31 July 2016 91,599
At 31 July 2015 101,312