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 2015

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 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

21,296

25,499

Tangible assets

123,972

68,508

145,268

94,007

Current assets

Stocks

618,892

451,132

Debtors

41,768

81,326

Cash at bank and in hand

12,475

19,564

673,135

552,022

Creditors: amounts falling due within one year

(139,238)

(182,101)

Net current assets

533,897

369,921

Total assets less current liabilities

679,165

463,928

Creditors: amounts falling due after more than one year

(2,454,317)

(2,019,835)

Accruals and deferred income

(13,311)

(1,788,463)

(1,555,907)

Capital and reserves

Called up share capital

702,625

Share premium account

272,750

Other reserves

1,000

Profit and loss account

(2,764,838)

(2,532,282)

Shareholders' funds

(1,788,463)

(1,555,907)

J E ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have 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 8 April 2016

Mr J.M. Douglas

Director

Company Registration No. 01995370

J E ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 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 January 2015).

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% or 10% straight line

Fixtures, fittings & equipment

3 years straight line

Motor vehicles

25% reducing balance

1.7

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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 2015

Accounting policies

(Continued)

- 4 -

1.10

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

111,550

455,114

566,664

Additions

3,080

81,930

85,010

At 31 December 2015

114,630

537,044

651,674

Depreciation

At 1 January 2015

86,051

386,606

472,657

Charge for the year

7,283

26,466

33,749

At 31 December 2015

93,334

413,072

506,406

Net book value

At 31 December 2015

21,296

123,972

145,268

At 31 December 2014

25,499

68,508

94,007

Share capital

2015

2014

Allotted, called up and fully paid

702,625 Ordinary of £1 each

702,625