J_E_ENGINEERING_LIMITED - Accounts

J E ENGINEERING LTD. - Company Information

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Company Registration No. 01995370 (England and Wales)

J E ENGINEERING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

J E ENGINEERING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

J E ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

25,499

32,654

Tangible assets

68,508

47,582

94,007

80,236

Current assets

Stocks

451,132

367,802

Debtors

81,326

160,042

Cash at bank and in hand

19,564

27,020

552,022

554,864

Creditors: amounts falling due within one year

(182,101)

(151,984)

Net current assets

369,921

402,880

Total assets less current liabilities

463,928

483,116

Creditors: amounts falling due after more than one year

(2,019,835)

(1,737,882)

(1,555,907)

(1,254,766)

Capital and reserves

Called up share capital

702,625

Share premium account

272,750

Other reserves

1,000

Profit and loss account

(2,532,282)

(2,231,141)

Shareholders' funds

(1,555,907)

(1,254,766)

J E ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 March 2015

Mr J.M. Douglas

Director

Company Registration No. 01995370

J E ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through the continued financial support and assurances given by the director, who therefore finds it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of the financial support or assurances.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.

1.5

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance and 33% straight line

Fixtures, fittings & equipment

3 years straight line

Motor vehicles

25% reducing balance

1.7

Leasing

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

1.8

Stock

Stock is valued at the lower of cost and net realisable value.

1.9

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

J E ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2014

111,550

414,411

525,961

Additions

40,703

At 31 December 2014

111,550

455,114

566,664

Depreciation

At 1 January 2014

78,896

366,829

445,725

Charge for the year

7,155

19,777

26,932

At 31 December 2014

86,051

386,606

472,657

Net book value

At 31 December 2014

25,499

68,508

94,007

At 31 December 2013

32,654

47,582

80,236

Share capital

2014

2013

Allotted, called up and fully paid

702,625 Ordinary of £1 each

702,625