COMPANY REGISTRATION NUMBER
SC381823
AKM MECHANICAL ENGINEERING SERVICES LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
31 July 2015
ATKINSON & CO LIMITED
Chartered Accountants
Victoria House
87 High Street
Tillicoultry
Clackmannanshire
FK13 6AA
AKM MECHANICAL ENGINEERING SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTORS OF AKM MECHANICAL
ENGINEERING SERVICES LIMITED
YEAR ENDED 31 JULY 2015
In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared the financial statements of the company on pages 2 to 5 from the accounting records and information and explanations supplied to us.
This report is made to the Company's Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken to enable us to prepare the financial statements on behalf of the Company's Directors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Directors, as a body, for our work or for this report.
We have carried out this engagement in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the preparation of financial statements.
You have acknowledged on the balance sheet as at 31 July 2015 your duty to ensure that the company has kept adequate accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
ATKINSON & CO LIMITED
Chartered Accountants
Victoria House
87 High Street
Tillicoultry
Clackmannanshire
FK13 6AA
15 April 2016
AKM MECHANICAL ENGINEERING SERVICES LIMITED
ABBREVIATED BALANCE SHEET
31 July 2015
|
2015 |
2014 |
|
Note |
£ |
£ |
|
FIXED ASSETS |
2 |
|
|
|
Tangible assets |
267 |
356 |
|
---- |
---- |
|
|
|
|
CURRENT ASSETS
|
Stocks |
24,231 |
22,851 |
|
Debtors |
74,121 |
65,371 |
|
Cash at bank and in hand |
636 |
220 |
|
--------- |
--------- |
|
98,988 |
88,442 |
|
CREDITORS: Amounts falling due within one year |
44,771 |
39,969 |
|
--------- |
--------- |
|
NET CURRENT ASSETS |
54,217 |
48,473 |
|
--------- |
--------- |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
54,484 |
48,829 |
|
--------- |
--------- |
|
|
|
CAPITAL AND RESERVES
|
Called up equity share capital |
3 |
100 |
100 |
|
Profit and loss account |
54,384 |
48,729 |
|
--------- |
--------- |
|
SHAREHOLDERS' FUNDS |
54,484 |
48,829 |
|
--------- |
--------- |
|
|
|
|
For the year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on
15 April 2016
, and are signed on their behalf by:
Mr A McMillan
Director
AKM MECHANICAL ENGINEERING SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 JULY 2015
1.
ACCOUNTING POLICIES
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 April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In the period to 31 July 2015 none of the company's turnover was derived from markets outside the UK.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings-25% Reducing balance basis
Work in progress
Work in progress in relation to Mechanical Engineering Services is valued at the amount required to reflect the value of work performed at full market value in accordance with Urgent Issue Task Force 40.
Work in progress in relation to the new venture is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
2.
FIXED ASSETS
COST
|
At 1 August 2014 and 31 July 2015 |
844 |
|
---- |
|
|
DEPRECIATION
|
At 1 August 2014 |
488 |
|
Charge for year |
89 |
|
---- |
|
At 31 July 2015 |
577 |
|
---- |
|
|
NET BOOK VALUE
3.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2015 |
2014 |
|
No |
£ |
No |
£ |
|
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
|
---- |
---- |
---- |
---- |
|
|
|
|
|
|