MP Precision Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04308038 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

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

41,440

15,040

CURRENT ASSETS

Stocks

14,750

6,500

Debtors

123,132

115,985

Cash at bank

32,052

35,036

169,934

157,521

CREDITORS

Amounts falling due within one year

90,669

96,169

NET CURRENT ASSETS

79,265

61,352

TOTAL ASSETS LESS CURRENT LIABILITIES

120,705

76,392

CREDITORS

Amounts falling due after more than one year

51,652

11,769

NET ASSETS

69,053

64,623

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

68,053

63,623

SHAREHOLDERS' FUNDS

69,053

64,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 11 September 2014 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 2013

72,631

Additions

57,650

At 31 December 2013

130,281

DEPRECIATION

At 1 January 2013

57,591

Charge for year

31,250

At 31 December 2013

88,841

NET BOOK VALUE

At 31 December 2013

41,440

At 31 December 2012

15,040

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

1,000

Ordinary

1.00

1,000

1,000