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DEELEY PRECISION ENGINEERING LIMITED - Company Information

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Deeley Precision Engineering Ltd

Registered Number:03859672

For the year ended 31 October 2018

England and Wales

Unaudited Financial Statements

For the year ended 31 October 2018

Deeley Precision Engineering Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 October 2018

Deeley Precision Engineering Ltd

Statement of Financial Position

Registered Number :

03859672

2017

2018

Notes

Fixed assets

Property, plant and equipment

477,740

448,309

477,740

448,309

Current assets

Inventories

15,000

30,000

Trade and other receivables

148,366

99,415

129,415

163,366

Trade and other payables: amounts falling due within one

year

(482,597)

(461,839)

(319,231)

(332,424)

Net current liabilities

Total assets less current liabilities

145,316

129,078

(17,733)

(15,385)

Provisions for liabilities

127,583

Net assets

113,693

Capital and reserves

Called up share capital

100

Retained earnings

127,483

113,593

127,583

113,693

Shareholders' funds

For the year ended 31 October 2018 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 year ended 31 October 2018 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 applicable to companies subject to the small companies regime.

Ian Deeley Director

These financial statements were approved and authorised for issue by the Board on 24 January 2019 and were signed by:

The notes form part of these financial statements

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For the year ended 31 October 2018

Deeley Precision Engineering Ltd

Notes to the Financial Statements

Statutory Information

Deeley Precision Engineering Ltd is a private limited company, limited by shares, domiciled in England and Wales,

registration number 03859672.

Registered address:

Suite 1 & 2, Business Centre

Hagley Golf & Country Club

Wassell Grove Lane

Hagley

DY9 9JW

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:

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 straight line basis.

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For the year ended 31 October 2018

Deeley Precision Engineering Ltd

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Motor vehicles

Plant and

machinery

Cost or

valuation

At 01 November 2017

704,429

9,569

7,439

13,736

673,685

44,833

22,050

22,783

Additions

At 31 October 2018

13,736

29,489

9,569

749,262

696,468

Provision for depreciation and impairment

At 01 November 2017

256,120

6,465

3,420

8,555

237,680

Charge for year

15,402

621

402

778

13,601

At 31 October 2018

271,522

7,086

3,822

9,333

251,281

At 31 October 2018

Net book value

445,187

4,403

25,667

2,483

477,740

At 31 October 2017

436,005

5,181

4,019

3,104

448,309

3. Inventories

2017

2018

Stocks

30,000

15,000

4. Trade and other receivables

2017

2018

Trade debtors

73,567

122,518

Other debtors

25,848

148,366

99,415

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

2017

2018

Bank loans and overdraft

10,036

8,786

Trade creditors

90,689

55,854

Taxation and social security

49,048

68,246

Other creditors

312,066

349,711

461,839

482,597

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