Micron Precision (Brixworth) Engineering - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02870074 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2015

FOR

MICRON PRECISION (BRIXWORTH) ENGINEERING

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M C Stevens

S J Stevens

E J Stevens

SECRETARY:

S J Stevens

REGISTERED OFFICE:

Unit B

Saxon Fields

Old Harborough Road

Brixworth

Northamptonshire

NN6 9BX

REGISTERED NUMBER:

02870074 (England and Wales)

ACCOUNTANTS:

DNG Dove Naish

Chartered Accountants

Eagle House

28 Billing Road

Northampton

NN1 5AJ

BANKERS:

HSBC Bank Plc

22 Abington Street

Northampton

NN1 2AN

FIXED ASSETS

Intangible assets

2

-

1,500

Tangible assets

3

513,708

271,713

513,708

273,213

CURRENT ASSETS

Stocks

106,351

120,525

Debtors

498,812

423,212

Cash at bank

272,993

242,888

878,156

786,625

CREDITORS

Amounts falling due within one year

4

733,608

574,119

NET CURRENT ASSETS

144,548

212,506

TOTAL ASSETS LESS CURRENT LIABILITIES

658,256

485,719

CREDITORS

Amounts falling due after more than one year

4

(71,409

)

(35,165

)

PROVISIONS FOR LIABILITIES

(68,160

)

(19,815

)

NET ASSETS

518,687

430,739

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

518,587

430,639

SHAREHOLDERS' FUNDS

518,687

430,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 26 October 2015 and were signed on its behalf by:

M C Stevens - Director

S J Stevens - Director

E J Stevens - 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.

Goodwill

Goodwill is subject to annual impairment review and consequent carrying value is amortised by equal

annual amounts over the remaining useful economic life of the asset.

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

-

20% on cost

Fixtures, fittings and equipment

-

25% on cost and 15% on cost

Motor vehicles

-

25% on cost

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 taxation is provided in full in respect of taxation deferred by timing differences between the

treatment of certain items for taxation and accounting purposes. The deferred tax balance has not

been discounted.

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.

Rentals payable under operating leases are charged against income on a straight line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

30,000

AMORTISATION

At 1 September 2014

28,500

Amortisation for year

1,500

At 31 August 2015

30,000

NET BOOK VALUE

At 31 August 2015

-

At 31 August 2014

1,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

1,033,581

Additions

408,975

Disposals

(74,335

)

At 31 August 2015

1,368,221

DEPRECIATION

At 1 September 2014

761,868

Charge for year

124,893

Eliminated on disposal

(32,248

)

At 31 August 2015

854,513

NET BOOK VALUE

At 31 August 2015

513,708

At 31 August 2014

271,713

4.

CREDITORS

Creditors include an amount of £ 459,622 (2014 - £ 220,332 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

6.	TRANSACTIONS WITH DIRECTORS

Included within other creditors are amounts due to the directors as follows:

M C Stevens - £29,340 (2014: £29,130)

S J Stevens - £27,951 (2014: £27,741)

E J Stevens - £14,020 (2014: £14,020)

The loans are unsecured, interest free and have no fixed terms of repayment.