Abbreviated Company Accounts - D&G PRECISION ENGINEERING LIMITED

Abbreviated Company Accounts - D&G PRECISION ENGINEERING LIMITED

D&G PRECISION ENGINEERING LIMITED - Company Information

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Registered Number SC212568

D&G PRECISION ENGINEERING LIMITED

Abbreviated Accounts

30 November 2014

D&G PRECISION ENGINEERING LIMITED Registered Number SC212568

Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 78,847 43,887
78,847 43,887
Current assets
Stocks 23,574 13,175
Debtors 206,470 267,557
Cash at bank and in hand 16,467 43,011
246,511 323,743
Creditors: amounts falling due within one year (235,102) (297,501)
Net current assets (liabilities) 11,409 26,242
Total assets less current liabilities 90,256 70,129
Creditors: amounts falling due after more than one year (41,403) (8,270)
Total net assets (liabilities) 48,853 61,859
Capital and reserves
Called up share capital 60,099 60,099
Profit and loss account (11,246) 1,760
Shareholders' funds 48,853 61,859
  • For the year ending 30 November 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 August 2015

And signed on their behalf by:
S GRIFFIN, Director

D&G PRECISION ENGINEERING LIMITED Registered Number SC212568

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant & Machinery etc - 33% on cost and 25% on reducing balance

Other accounting policies
Stocks
Stock and WIP are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


Hire purchase and leasing commitments
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 comapny's pension scheme are charged to the proift and loss account in the period to which they relate.

2Tangible fixed assets
£
Cost
At 1 December 2013 273,669
Additions 73,376
Disposals (30,895)
Revaluations -
Transfers -
At 30 November 2014 316,150
Depreciation
At 1 December 2013 229,782
Charge for the year 21,762
On disposals (14,241)
At 30 November 2014 237,303
Net book values
At 30 November 2014 78,847
At 30 November 2013 43,887