CP Precision Engineering Limited - Abbreviated accounts 16.1

CP Precision Engineering Limited - Abbreviated accounts 16.1

CP PRECISION ENGINEERING LIMITED - Company Information

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REGISTERED NUMBER: SC262713 (Scotland)















Abbreviated Accounts for the Year Ended 31 January 2016

for

CP Precision Engineering Limited

CP Precision Engineering Limited (Registered number: SC262713)






Contents of the Abbreviated Accounts
for the Year Ended 31 January 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

CP Precision Engineering Limited

Company Information
for the Year Ended 31 January 2016







DIRECTOR: P B Davidson





SECRETARY: Mrs F Davidson





REGISTERED OFFICE: Tayvallich
36 Wilson Road
Banchory
Aberdeenshire
AB31 5UY





REGISTERED NUMBER: SC262713 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR
Page 1
CP Precision Engineering Limited (Registered number: SC262713)

Abbreviated Balance Sheet
31 January 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 92,831 104,909

CURRENT ASSETS
Stocks 3,215 3,215
Debtors 42,341 71,450
Cash at bank 9,564 28,394
55,120 103,059
CREDITORS
Amounts falling due within one year 50,679 97,978
NET CURRENT ASSETS 4,441 5,081
TOTAL ASSETS LESS CURRENT
LIABILITIES
97,272
109,990

CREDITORS
Amounts falling due after more than one
year
(9,547
)
(14,321
)

PROVISIONS FOR LIABILITIES (11,915 ) (12,870 )
NET ASSETS 75,810 82,799

CAPITAL AND RESERVES
Called up share capital 3 2 2
Profit and loss account 75,808 82,797
SHAREHOLDERS' FUNDS 75,810 82,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
CP Precision Engineering Limited (Registered number: SC262713)

Abbreviated Balance Sheet - continued
31 January 2016


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 director on 14 October 2016 and were signed by:





P B Davidson - Director


The notes form part of these abbreviated accounts

Page 3
CP Precision Engineering Limited (Registered number: SC262713)

Notes to the Abbreviated Accounts
for the Year Ended 31 January 2016

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 and services, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - at varying rates on cost
Motor vehicles - 20% on cost
Computer equipment - at varying rates 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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the
company has entered into a binding agreement to sell the assets and recognised the gains and losses expected to
arise on sale or where assets have been sold and it is expected that the taxable gain will be rolled over into a
replacement asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Pensions
The company pays contributions to a third party pension provider on behalf of its employees and director. The
payments are charged to the profit and loss account in the period to which they relate.

Page 4 continued...
CP Precision Engineering Limited (Registered number: SC262713)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 January 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015 227,365
Additions 7,074
At 31 January 2016 234,439
DEPRECIATION
At 1 February 2015 122,456
Charge for year 19,152
At 31 January 2016 141,608
NET BOOK VALUE
At 31 January 2016 92,831
At 31 January 2015 104,909

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
20 Ordinary 10p 2 2

Page 5