JRE Precision Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07050741 (England and Wales)

JRE PRECISION LIMITED

TRADING AS

PRESREG VALVES

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Certified Accountants' Report

6

DIRECTOR:

J R Evans

REGISTERED OFFICE:

Arlington House

Priorfields

Ashby-De-La-Zouch

Leicestershire

LE65 1EA

REGISTERED NUMBER:

07050741 (England and Wales)

ACCOUNTANTS:

Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF

FIXED ASSETS

Intangible assets

2

205,635

-

Tangible assets

3

146,728

135,720

352,363

135,720

CURRENT ASSETS

Stocks

51,249

34,599

Debtors

218,712

83,614

Cash at bank and in hand

13,025

404,666

282,986

522,879

CREDITORS

Amounts falling due within one year

4

164,769

459,558

NET CURRENT ASSETS

118,217

63,321

TOTAL ASSETS LESS CURRENT LIABILITIES

470,580

199,041

CREDITORS

Amounts falling due after more than one year

4

(365,394

)

(93,936

)

PROVISIONS FOR LIABILITIES

(15,928

)

(19,613

)

ACCRUALS AND DEFERRED INCOME

(9,608

)

(10,144

)

NET ASSETS

79,650

75,348

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

79,550

75,248

SHAREHOLDERS' FUNDS

79,650

75,348

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 and authorised for issue by the director on 30 March 2017 and were signed by:

J R Evans - 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).

Exemption from preparing a cash flow statement

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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

-

20% on cost and Straight line over 20 years

Fixtures and fittings

-

10% 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, where material, 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

205,635

At 31 October 2016

205,635

NET BOOK VALUE

At 31 October 2016

205,635

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

165,802

Additions

48,788

Disposals

(1,000

)

At 31 October 2016

213,590

DEPRECIATION

At 1 November 2015

30,082

Charge for year

36,897

Eliminated on disposal

(117

)

At 31 October 2016

66,862

NET BOOK VALUE

At 31 October 2016

146,728

At 31 October 2015

135,720

4.

CREDITORS

Creditors include an amount of £ 93,936 (2015 - £ 114,928 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

£

Repayable by instalments

5,425

8,525

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

6.	ULTIMATE PARENT COMPANY

The ultimate parent company is JRE Limited, a company incorporated in England & Wales.

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

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

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 JRE Precision Limited for the year ended 31 October 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of JRE Precision Limited in accordance with the terms of our engagement letter dated 26 July 2013. Our work has been undertaken solely to prepare for your approval the financial statements of JRE Precision Limited and state those matters that we have agreed to state to the director of JRE Precision Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that JRE Precision 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 profit of JRE Precision Limited. You consider that JRE Precision 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 JRE Precision 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.

Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF

31 March 2017