REGISTERED NUMBER: 01115627 (England and Wales)

A G PRECISION (HUNTINGDON) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

D S Galpin

P C Galpin

SECRETARY:

P C Galpin

REGISTERED OFFICE:

255 Green Lanes

Palmers Green

London

N13 4XE

REGISTERED NUMBER:

01115627 (England and Wales)

ACCOUNTANTS:

John Crook & Partners

Chartered Accountants

255 Green Lanes

Palmers Green

London

N13 4XE

FIXED ASSETS

Tangible assets

2

57,089

66,772

CURRENT ASSETS

Stocks

2,070

2,815

Debtors

57,430

56,656

Cash at bank and in hand

44,222

19,197

103,722

78,668

CREDITORS

Amounts falling due within one year

3

45,414

42,875

NET CURRENT ASSETS

58,308

35,793

TOTAL ASSETS LESS CURRENT LIABILITIES

115,397

102,565

PROVISIONS FOR LIABILITIES

11,068

10,378

NET ASSETS

104,329

92,187

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

104,229

92,087

SHAREHOLDERS' FUNDS

104,329

92,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 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 Board of Directors on 22 March 2017 and were signed on its behalf by:

D S Galpin - Director

P C Galpin - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's

activities after deduction of trade discounts and 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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.

Deferred tax

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

sheet date.

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.

Pension costs and other post-retirement benefits

The company pays premiums to approved personal pension schemes in respect of the employees. Premiums are

charged to the profit and loss account as they arise.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

210,975

Additions

369

At 30 June 2016

211,344

DEPRECIATION

At 1 July 2015

144,203

Charge for year

10,052

At 30 June 2016

154,255

NET BOOK VALUE

At 30 June 2016

57,089

At 30 June 2015

66,772

3.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 7,513 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

5.

CONTROL