REGISTERED NUMBER: 05533078 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 OCTOBER 2011 TO 1 OCTOBER 2012

FOR

CARROLL & MEYNELL TRANSFORMERS LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

592,895

565,171

CURRENT ASSETS

Stocks

972,013

900,446

Debtors

1,853,509

1,767,731

Cash at bank and in hand

246

255

2,825,768

2,668,432

CREDITORS

Amounts falling due within one year

3

2,789,888

2,744,716

NET CURRENT ASSETS/(LIABILITIES)

35,880

(76,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

628,775

488,887

CREDITORS

Amounts falling due after more than one year

3

(1,204

)

(3,290

)

PROVISIONS FOR LIABILITIES

(16,813

)

-

NET ASSETS

610,758

485,597

CAPITAL AND RESERVES

Called up share capital

4

96

4

Revaluation reserve

196,031

199,861

Profit and loss account

414,631

285,732

SHAREHOLDERS' FUNDS

610,758

485,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 1 October 2012.

The members have not required the company to obtain an audit of its financial statements for the period ended 1 October 2012 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 June 2013 and were signed by:

Mr M Meynell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis which relies on the support of the bank and the

company's related party referred to in note 15 to the Financial Statements. The company's trading performance

has continued to improve significantly and the directors consider that it is appropriate to draw up accounts on a

going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Office equipment

-

20% on cost and 15% on reducing balance

Prior to the business reorganisation in 2007, it was the previous company's policy to revalue the freehold

property. In the year to 30 September 2008 when the reorganisation took place this company adopted the

transitional provisions of FRS 15 Tangible Fixed Assets. Whilst previous valuations have been retained, they

have not been updated. From 1 October 2007 it is company policy not to revalue fixed assets. The last

valuation was in September 2005.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

Expenditure on research and development is charged to profit and loss account in the year in which it is

incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2011

1,213,296

Additions

69,110

Disposals

(2,174

)

At 1 October 2012

1,280,232

DEPRECIATION

At 1 October 2011

648,125

Charge for period

41,386

Eliminated on disposal

(2,174

)

At 1 October 2012

687,337

NET BOOK VALUE

At 1 October 2012

592,895

At 30 September 2011

565,171

3.

CREDITORS

Creditors include an amount of £ 1,003,371 (2011 - £ 1,033,679 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2012

2011

value:

£

£

96

Ordinary

£1

96

4

(2011 - 4 )

92 Ordinary shares of £1 were issued during the period as a bonus out of reserves.