REGISTERED NUMBER: 01879235 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

ABBEY PRECISION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D F Spicer

N H Ellis

J N Sackett

J T Firkins

S J Spicer

SECRETARY:

D J Williams

REGISTERED OFFICE:

Eden Laboratory

Broadmead Road

Stewartby

Bedfordshire

MK43 9ND

REGISTERED NUMBER:

01879235 (England and Wales)

ACCOUNTANTS:

Darrington & Co Limited

71 High Street

Gt Barford

Bedford

Bedfordshire

MK44 3LF

FIXED ASSETS

Tangible assets

4

1,366,854

1,309,730

CURRENT ASSETS

Stocks

254,169

229,526

Debtors

429,177

284,028

Cash at bank and in hand

145,534

96,472

828,880

610,026

CREDITORS

Amounts falling due within one year

463,970

325,632

NET CURRENT ASSETS

364,910

284,394

TOTAL ASSETS LESS CURRENT LIABILITIES

1,731,764

1,594,124

CREDITORS

Amounts falling due after more than one year

(1,155,495

)

(1,184,976

)

PROVISIONS FOR LIABILITIES

(100,015

)

(85,022

)

NET ASSETS

476,254

324,126

CAPITAL AND RESERVES

Called up share capital

13,040

13,040

Share premium

13,680

13,680

Retained earnings

449,534

297,406

SHAREHOLDERS' FUNDS

476,254

324,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 January 2018 and were signed on its behalf by:

D F Spicer - Director

S J Spicer - Director

1.	STATUTORY INFORMATION

Abbey Precision Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced work done, excluding value added tax, as adjusted by stock and work in

progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 20% on 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

1,982,589

Additions

241,753

At 30 June 2017

2,224,342

DEPRECIATION

At 1 July 2016

672,859

Charge for year

184,629

At 30 June 2017

857,488

NET BOOK VALUE

At 30 June 2017

1,366,854

At 30 June 2016

1,309,730

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2016

662,101

Additions

138,000

Transfer to ownership

(138,472

)

At 30 June 2017

661,629

DEPRECIATION

At 1 July 2016

149,458

Charge for year

111,553

Transfer to ownership

(77,212

)

At 30 June 2017

183,799

NET BOOK VALUE

At 30 June 2017

477,830

At 30 June 2016

512,643

5.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Hire purchase contracts

381,108

393,572

All Hire Purchase liabilities are secured over the assets financed.

6.	RELATED PARTY DISCLOSURES

During the year the company supplied goods and services at arms length to Pope & Meads Limited in the sum of

£61,073 (excluding VAT) (2016 : £60,915) of which £Nil (2016 : £Nil) was outstanding at the balance sheet

date.

Pope & Meads Limited also supplied goods and services to the company at arms length in the sum of £40,111

(excluding VAT) (2016 : £46,272) of which £Nil (2016 : £9,356) was outstanding at the balance sheet date.