Stonegate Precision Tooling Limited - Accounts to registrar - small 17.2

Stonegate Precision Tooling Limited - Accounts to registrar - small 17.2


IRIS Accounts Productionv17.2.0.33607876144Board of Directors1.1.1631.12.1631.12.16truefalsetruefalsefalsetruefalseA Ordinary shares1.00000B Ordinary shares1.00000C Ordinary shares1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure078761442015-12-31078761442016-12-31078761442016-01-012016-12-31078761442014-12-31078761442015-01-012015-12-31078761442015-12-3107876144ns15:EnglandWales2016-01-012016-12-3107876144ns14:PoundSterling2016-01-012016-12-3107876144ns10:Director12016-01-012016-12-3107876144ns10:PrivateLimitedCompanyLtd2016-01-012016-12-3107876144ns10:SmallEntities2016-01-012016-12-3107876144ns10:AuditExempt-NoAccountantsReport2016-01-012016-12-3107876144ns10:SmallCompaniesRegimeForDirectorsReport2016-01-012016-12-3107876144ns10:SmallCompaniesRegimeForAccounts2016-01-012016-12-3107876144ns10:FullAccounts2016-01-012016-12-3107876144ns10:OrdinaryShareClass12016-01-012016-12-3107876144ns10:OrdinaryShareClass22016-01-012016-12-3107876144ns10:OrdinaryShareClass32016-01-012016-12-3107876144ns10:Director22016-01-012016-12-3107876144ns10:Director32016-01-012016-12-3107876144ns10:RegisteredOffice2016-01-012016-12-3107876144ns5:CurrentFinancialInstruments2016-12-3107876144ns5:CurrentFinancialInstruments2015-12-3107876144ns5:ShareCapital2016-12-3107876144ns5:ShareCapital2015-12-3107876144ns5:RetainedEarningsAccumulatedLosses2016-12-3107876144ns5:RetainedEarningsAccumulatedLosses2015-12-3107876144ns5:PlantMachinery2016-01-012016-12-3107876144ns5:PlantMachinery2015-12-3107876144ns5:PlantMachinery2016-12-3107876144ns5:PlantMachinery2015-12-3107876144ns5:CostValuation2015-12-3107876144ns5:AdditionsToInvestments2016-12-3107876144ns5:CostValuation2016-12-3107876144ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-3107876144ns5:CurrentFinancialInstrumentsns5:WithinOneYear2015-12-3107876144ns5:WithinOneYear2016-12-3107876144ns5:WithinOneYear2015-12-3107876144ns5:BetweenOneFiveYears2016-12-3107876144ns5:BetweenOneFiveYears2015-12-3107876144ns5:AllPeriods2016-12-3107876144ns5:AllPeriods2015-12-3107876144ns10:OrdinaryShareClass12016-12-3107876144ns10:OrdinaryShareClass22016-12-3107876144ns10:OrdinaryShareClass32016-12-3107876144ns5:RetainedEarningsAccumulatedLosses2015-12-3107876144ns5:RetainedEarningsAccumulatedLosses2016-01-012016-12-31


REGISTERED NUMBER: 07876144(England and Wales)


















Stonegate Precision Tooling Limited

Unaudited Financial Statements for the Year Ended 31st December 2016






Stonegate Precision Tooling Limited (Registered number: 07876144)






Contents of the Financial Statements
for the year ended 31st December 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stonegate Precision Tooling Limited

Company Information
for the year ended 31st December 2016







DIRECTORS: G Hazell
C Hazell
Mrs R R Hazell





REGISTERED OFFICE: Melton House
Wyke Way
Melton
East Yorkshire
HU14 3HH





REGISTERED NUMBER: 07876144(England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Stonegate Precision Tooling Limited (Registered number: 07876144)

Balance Sheet
31st December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,544 51,677
Investments 5 300 100
48,844 51,777

CURRENT ASSETS
Stocks 687,756 527,007
Debtors 6 1,339,745 741,632
Cash at bank 440,278 378,828
2,467,779 1,647,467
CREDITORS
Amounts falling due within one year 7 980,478 764,877
NET CURRENT ASSETS 1,487,301 882,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,536,145

934,367

PROVISIONS FOR LIABILITIES 4,668 4,372
NET ASSETS 1,531,477 929,995

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 1,530,477 928,995
SHAREHOLDERS' FUNDS 1,531,477 929,995

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Stonegate Precision Tooling Limited (Registered number: 07876144)

Balance Sheet - continued
31st December 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13th June 2017and were signed on its
behalf by:





G Hazell- Director


Stonegate Precision Tooling Limited (Registered number: 07876144)

Notes to the Financial Statements
for the year ended 31st December 2016

1. STATUTORY INFORMATION

Stonegate Precision Tooling Limited is a private company, limited by shares, registered in England
and Wales. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company adopted FRS 102 1A in the current year and an explanation of how transition to FRS
102 1A has affected the reported financial position and performance is given in the notes to these
financial statements.

The significant accounting policies applied in the presentation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about Stonegate Precision Tooling Limited as an
individual company and do not contain consolidated financial information as the parent of a group. The
company has taken the option under Section 398 of the Companies Act 2006 not to prepare
consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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 etc - 25% on cost, 15% on reducing balance and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its
present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made
for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.


Stonegate Precision Tooling Limited (Registered number: 07876144)

Notes to the Financial Statements - continued
for the year ended 31st December 2016

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that are
expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.

Leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is
carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss
account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less
impairment. If an arrangement constitute a financing transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12(2015 - 13) .

Stonegate Precision Tooling Limited (Registered number: 07876144)

Notes to the Financial Statements - continued
for the year ended 31st December 2016

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2016 59,340
Additions 26,745
Disposals (16,838 )
At 31st December 2016 69,247
DEPRECIATION
At 1st January 2016 7,663
Charge for year 18,556
Eliminated on disposal (5,516 )
At 31st December 2016 20,703
NET BOOK VALUE
At 31st December 2016 48,544
At 31st December 2015 51,677

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2016 100
Additions 200
At 31st December 2016 300
NET BOOK VALUE
At 31st December 2016 300
At 31st December 2015 100

The company's investments at the Balance Sheet date comprised a 75% (2015: 100%) holding in
Clarity VM Limited. The principal activity of Clarity VM Limited is innovative print solutions.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 845,582 722,047
Amounts owed by group undertakings 10,940 -
Other debtors 483,223 19,585
1,339,745 741,632

Stonegate Precision Tooling Limited (Registered number: 07876144)

Notes to the Financial Statements - continued
for the year ended 31st December 2016

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 205,537 200,618
Taxation and social security 414,166 342,247
Other creditors 360,775 222,012
980,478 764,877

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2016 2015
£    £   
Within one year 17,303 27,069
Between one and five years 8,858 26,160
26,161 53,229

9. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
760 A Ordinary shares £1 760 760
200 B Ordinary shares £1 200 200
40 C Ordinary shares £1 40 40
1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1st January 2016 928,995
Profit for the year 859,638
Dividends (258,156 )
At 31st December 2016 1,530,477

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £217,467 (2015 - £223,401) were paid to the directors .

Within debtors are amounts owed from entities over which the entity has control of £10,940 (2015
£Nil).

Within other creditors are amounts owed to other related parties of £343,412 (2015 £121,533).

Stonegate Precision Tooling Limited (Registered number: 07876144)

Notes to the Financial Statements - continued
for the year ended 31st December 2016

12. FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the year ended 31 December 2016.

The effect of transition from previous financial reporting framework to FRS 102 is outlined below.

a) Changes in accounting policies

There were no changes to the accounting policies as a result of transition to FRS 102.

b) Reconciliation of equity shareholders' funds

There were no adjustments to previously reported equity shareholders' funds at the date of transition to
FRS 102.

c) Reconciliation of comparative period profit or loss

There were no adjustments to previously reported profit or loss in the comparative year