MP Precision Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04308038 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

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

72,040

34,340

CURRENT ASSETS

Stocks

14,500

15,000

Debtors

121,988

149,471

Cash at bank

28,815

51,346

165,303

215,817

CREDITORS

Amounts falling due within one year

103,539

122,219

NET CURRENT ASSETS

61,764

93,598

TOTAL ASSETS LESS CURRENT
LIABILITIES

133,804

127,938

CREDITORS

Amounts falling due after more than one year

83,933

52,124

NET ASSETS

49,871

75,814

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

48,871

74,814

SHAREHOLDERS' FUNDS

49,871

75,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 September 2016 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 January 2015).

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 2015

162,271

Additions

77,466

At 31 December 2015

239,737

DEPRECIATION

At 1 January 2015

127,931

Charge for year

39,766

At 31 December 2015

167,697

NET BOOK VALUE

At 31 December 2015

72,040

At 31 December 2014

34,340

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

1,000

Ordinary

1.00

1,000