Elite Engineering (Derby) Limited - Abbreviated accounts 16.3

Elite Engineering (Derby) Limited - Abbreviated accounts 16.3


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ELITE ENGINEERING (DERBY) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016






ELITE ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 01707997)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

ELITE ENGINEERING (DERBY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2016







DIRECTORS: W R Weston
Mrs K A Weston





SECRETARY: Mrs K A Weston





REGISTERED OFFICE: Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 01707997(England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ELITE ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 01707997)

ABBREVIATED BALANCE SHEET
31 JULY 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 278 371
Investment property 3 194,800 195,200
195,078 195,571

CURRENT ASSETS
Cash at bank 1,661 2,015

CREDITORS
Amounts falling due within one year 30,762 31,352
NET CURRENT LIABILITIES (29,101 ) (29,337 )
TOTAL ASSETS LESS CURRENT LIABILITIES 165,977 166,234

CAPITAL AND RESERVES
Called up share capital 4 2 2
Revaluation reserve 166,969 166,969
Profit and loss account (994 ) (737 )
SHAREHOLDERS' FUNDS 165,977 166,234

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 3 February 2017and were signed on its behalf by:




W R Weston- Director


ELITE ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 01707997)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 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 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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2015
and 31 July 2016 3,569
DEPRECIATION
At 1 August 2015 3,198
Charge for year 93
At 31 July 2016 3,291
NET BOOK VALUE
At 31 July 2016 278
At 31 July 2015 371

ELITE ENGINEERING (DERBY) LIMITED (REGISTERED NUMBER: 01707997)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 JULY 2016


3. INVESTMENT PROPERTY
Total
£   
COST
At 1 August 2015
and 31 July 2016 200,000
DEPRECIATION
At 1 August 2015 4,800
Charge for year 400
At 31 July 2016 5,200
NET BOOK VALUE
At 31 July 2016 194,800
At 31 July 2015 195,200

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2