A G Precision Engineering Limited,Ltd - AccountsLtd

As at 31 March 2017

A G Precision Engineering Limited

Statement of Financial Position

Registered Number :

04617704

2015

2017

Notes

Fixed assets

Property, plant and equipment

2,739

Current assets

Trade and other receivables

2,750

2,404

2,689

Cash and cash equivalents

2,484

4,888

5,439

Trade and other payables: amounts falling due within one year

(5,990)

(5,199)

(551)

(311)

Net current liabilities

Total assets less current liabilities

(311)

2,188

Trade and other payables: amounts falling due after more than one

year

(1,649)

(311)

Net assets/liabilities

539

Capital and reserves

Called up share capital

Retained earnings

(313)

537

(311)

539

Shareholders' funds

For the period ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

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

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.

Mr Tony Goulding Director

These financial statements were approved and authorised for issue by the Board on 05 October 2017 and were signed by:

The notes form part of these financial statements

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For the period ended 31 March 2017

A G Precision Engineering Limited

Notes to the Financial Statements

Statutory Information

A G Precision Engineering Limited is a private limited company, limited by shares, domiciled in England and Wales, registration

number 04617704.

Principal place of business:

1st Floor Offices

16-18 West Street

Rochford

Essex

SS4 1AJ

Registered address:

1st Floor Offices

16-18 West Street

Rochford

Essex

SS4 1AJ

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

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

Motor vehicles

Inventories

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.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 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.

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For the period ended 31 March 2017

A G Precision Engineering Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Plant and

machinery

Land and

buildings

Cost or valuation

At 01 January 2016

34,612

4,045

29,517

1,050

(4,045)

(29,517)

(1,050)

Disposals

(34,612)

At 31 March 2017

Provision for depreciation and impairment

At 01 January 2016

31,873

2,830

27,993

1,050

(31,873)

(2,830)

(27,993)

(1,050)

On disposal

At 31 March 2017

Net book value

At 31 December 2015

1,524

1,215

2,739

3. Trade and other receivables

2015

2017

Trade debtors

2,404

2,750

4. Trade and other payables: amounts falling due within one year

2015

2017

Trade creditors

1,294

Taxation and social security

801

1,242

Other creditors

4,398

3,454

5,199

5,990

5. Trade and other payables: amounts falling due after more than one year

2015

2017

Other creditors

1,649

6. Related party transactions

The ultimate controlling party for the year was Mr Tony Goulding by virtue of their shareholdings in the ultimate parent

company, A G Precision Engineering Limited.

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