Furnace Fabrications Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06925040 (England and Wales)

FURNACE FABRICATIONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

Chartered Accountants' Report

5

DIRECTORS:

Mr J D Sheahan

Mr I A Scott

Mr N J Houghton

Mr M M Long

Mr P S Buttery

REGISTERED OFFICE:

Unit 13

Credenda Road

Oldbury

West Bromwich

West Midlands

B70 7JE

REGISTERED NUMBER:

06925040 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

National Westminster Bank Plc

3 Church Street

Oldbury

Warley

West Midlands

B69 3ND

FIXED ASSETS

Tangible assets

2

1,862

2,485

CURRENT ASSETS

Stocks

824

776

Debtors

120,250

106,326

Cash at bank

1,540

898

122,614

108,000

CREDITORS

Amounts falling due within one year

118,038

104,008

NET CURRENT ASSETS

4,576

3,992

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,438

6,477

CAPITAL AND RESERVES

Called up share capital

3

120

Share premium

3,987

Profit and loss account

2,331

2,370

6,438

6,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2016 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 30th January 2017 and were signed on its behalf
by:

Mr J D Sheahan - 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 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.

Plant and machinery

-

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.

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 1st May 2015

and 30th April 2016

11,885

DEPRECIATION

At 1st May 2015

9,400

Charge for year

623

At 30th April 2016

10,023

NET BOOK VALUE

At 30th April 2016

1,862

At 30th April 2015

2,485

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

92

Ordinary A

£1

92

6

Ordinary B

£1

6

10

Ordinary C

£1

10

12

Ordinary D

£1

12

120

4.	ULTIMATE PARENT COMPANY

Vacuum and Atmosphere Services Limited is regarded by the directors as being the company's ultimate parent

company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Furnace Fabrications Limited for the year ended 30th April 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Furnace Fabrications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Furnace Fabrications Limited and state those matters that we have agreed to state to the Board of Directors of Furnace Fabrications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Furnace Fabrications Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Furnace Fabrications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Furnace Fabrications Limited. You consider that Furnace Fabrications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Furnace Fabrications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.