T_SMITH_(ENGINEERING)_LIM - Accounts

T. SMITH (ENGINEERING) LIMITED - Company Information

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Company Registration No. 01874079 (England and Wales)

T SMITH (ENGINEERING) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Evolution

Wynyard Park House

Wynyard Avenue

Wynyard

TS22 5TB

T SMITH (ENGINEERING) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

T SMITH (ENGINEERING) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

465,242

458,327

Current assets

Debtors

500

2,500

Cash at bank and in hand

20,167

14,008

20,667

16,508

Creditors: amounts falling due within one year

(46,425)

(73,821)

Net current liabilities

(25,758)

(57,313)

Total assets less current liabilities

439,484

401,014

Provisions for liabilities

(1,080)

(1,376)

438,404

399,638

Capital and reserves

Called up share capital

100

Profit and loss account

438,304

399,538

Shareholders' funds

438,404

399,638

For the financial year ended 31 May 2016 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 16 September 2016

Mr T G Smith

Director

Company Registration No. 01874079

T SMITH (ENGINEERING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

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).

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

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Freehold land and buildings

10% straight line (Land not depreciated)

Plant and machinery

20% reducing balance

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 June 2015

511,579

Additions

8,506

At 31 May 2016

520,085

Depreciation

At 1 June 2015

53,252

Charge for the year

1,591

At 31 May 2016

54,843

Net book value

At 31 May 2016

465,242

At 31 May 2015

458,327

T SMITH (ENGINEERING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100