Depot Engineering Company Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00692428 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Depot Engineering Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P Judson

SECRETARY:

P Judson

REGISTERED OFFICE:

Unit 7B

Kayley Industrial Estate

Ashton Under Lyne

Lancashire

OL7 0AU

REGISTERED NUMBER:

00692428 (England and Wales)

ACCOUNTANTS:

Lucas Reis Limited

Landmark House

Station Rd

Cheadle Hulme

Cheshire

SK8 7BS

FIXED ASSETS

Tangible assets

2

180,402

203,263

CURRENT ASSETS

Stocks

41,354

44,514

Debtors

3

112,844

108,527

Cash at bank and in hand

959

56

155,157

153,097

CREDITORS

Amounts falling due within one year

250,931

244,404

NET CURRENT LIABILITIES

(95,774

)

(91,307

)

TOTAL ASSETS LESS CURRENT LIABILITIES

84,628

111,956

CREDITORS

Amounts falling due after more than one year

21,313

46,778

NET ASSETS

63,315

65,178

CAPITAL AND RESERVES

Called up share capital

4

1,528

1,528

Profit and loss account

61,787

63,650

SHAREHOLDERS' FUNDS

63,315

65,178

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 December 2016 and were signed by:

P Judson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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

Short leasehold

-

10% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

955,184

DEPRECIATION

At 1 April 2015

751,921

Charge for year

22,861

At 31 March 2016

774,782

NET BOOK VALUE

At 31 March 2016

180,402

At 31 March 2015

203,263

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 11,300 (31.3.15 - £ 11,300 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

1,528

Ordinary

£1

1,528

1,528

5.	ULTIMATE PARENT COMPANY