Abbreviated Company Accounts - JETWIN PRECISION ENGINEERING LIMITED

Abbreviated Company Accounts - JETWIN PRECISION ENGINEERING LIMITED


Registered Number 00946262

JETWIN PRECISION ENGINEERING LIMITED

Abbreviated Accounts

31 December 2015

JETWIN PRECISION ENGINEERING LIMITED Registered Number 00946262

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 42,167 52,879
42,167 52,879
Current assets
Stocks 5,137 5,137
Debtors 80,430 65,329
Cash at bank and in hand 112,814 68,939
198,381 139,405
Creditors: amounts falling due within one year (100,864) (107,440)
Net current assets (liabilities) 97,517 31,965
Total assets less current liabilities 139,684 84,844
Provisions for liabilities (8,102) (10,151)
Total net assets (liabilities) 131,582 74,693
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 126,582 69,693
Shareholders' funds 131,582 74,693
  • For the year ending 31 December 2015 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 4 August 2016

And signed on their behalf by:
N G Winchcombe, Director

JETWIN PRECISION ENGINEERING LIMITED Registered Number 00946262

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the special provisions relating to small companies of the Companies Act 2006.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value-added tax and is attributable to the one principal activity of the company.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets in use at rates calculated to write-off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

Other accounting policies
DEFERRED TAXATION
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for gains on disposal of fixed assets which will be rolled over into replacement assets. No provision is made for taxation on permanent differences.
Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.

2Tangible fixed assets
£
Cost
At 1 January 2015 468,211
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2015 468,211
Depreciation
At 1 January 2015 415,332
Charge for the year 10,712
On disposals -
At 31 December 2015 426,044
Net book values
At 31 December 2015 42,167
At 31 December 2014 52,879