MP Precision Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04308038 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

MP Precision Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C J Molloy

N Pritchard

SECRETARY:

Mr. N Pritchard

REGISTERED OFFICE:

66 Front Street East

Bedlington

Northumberland

NE22 5AB

REGISTERED NUMBER:

04308038 (England and Wales)

ACCOUNTANTS:

DCM Business Services

66 Front Street East

Bedlington

Northumberland

NE22 5AB

BANKERS:

Barclays Bank plc

Unit 50

Northumbria House

Cramlington

Northumberland

NE23 6QP

FIXED ASSETS

Tangible assets

2

34,340

41,440

CURRENT ASSETS

Stocks

15,000

14,750

Debtors

149,471

123,132

Cash at bank

51,346

32,052

215,817

169,934

CREDITORS

Amounts falling due within one year

122,219

90,669

NET CURRENT ASSETS

93,598

79,265

TOTAL ASSETS LESS CURRENT LIABILITIES

127,938

120,705

CREDITORS

Amounts falling due after more than one year

52,124

51,652

NET ASSETS

75,814

69,053

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

74,814

68,053

SHAREHOLDERS' FUNDS

75,814

69,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 24 September 2015 and were signed on its behalf by:

N Pritchard - Director

C J Molloy - 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 April 2008).

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.

Plant and machinery etc

-

25% on cost

Stocks

Stocks and work in progress 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 expenditure and an appropriate proportion of fixed and variable overheads.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

130,281

Additions

31,990

At 31 December 2014

162,271

DEPRECIATION

At 1 January 2014

88,841

Charge for year

39,090

At 31 December 2014

127,931

NET BOOK VALUE

At 31 December 2014

34,340

At 31 December 2013

41,440

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

1,000

Ordinary

1.00

1,000

1,000