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REGISTERED NUMBER: 03259096 (England and Wales)















Abbreviated Unaudited Accounts

for the Period 1 April 2015 to 30 June 2016

for

Colmet Precision Limited

Colmet Precision Limited (Registered number: 03259096)

Contents of the Abbreviated Accounts
for the period 1 April 2015 to 30 June 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Colmet Precision Limited

Company Information
for the period 1 April 2015 to 30 June 2016







DIRECTOR: C C Ball





SECRETARY: C P Ball





REGISTERED OFFICE: Unit 3, Madingley Court
Chippenham Drive
Kingston
Milton Keynes
Buckinghamshire
MK10 0BZ





REGISTERED NUMBER: 03259096 (England and Wales)





ACCOUNTANTS: Ashbys Chartered Accountants
Morton House
9 Beacon Court
Pitstone Green Business Park
Pitstone
LU7 9GY

Colmet Precision Limited (Registered number: 03259096)

Abbreviated Balance Sheet
30 June 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 508,732 605,165

CURRENT ASSETS
Stocks 17,500 4,486
Debtors 152,433 159,668
Cash at bank 11,134 5,005
181,067 169,159
CREDITORS
Amounts falling due within one year 3 280,173 259,333
NET CURRENT LIABILITIES (99,106 ) (90,174 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,626

514,991

CREDITORS
Amounts falling due after more than one
year

3

(370,255

)

(469,492

)

PROVISIONS FOR LIABILITIES (14,656 ) (12,896 )
NET ASSETS 24,715 32,603

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 24,615 32,503
SHAREHOLDERS' FUNDS 24,715 32,603

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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.

Colmet Precision Limited (Registered number: 03259096)

Abbreviated Balance Sheet - continued
30 June 2016


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 2 September 2016 and were signed by:





C C Ball - Director


Colmet Precision Limited (Registered number: 03259096)

Notes to the Abbreviated Accounts
for the period 1 April 2015 to 30 June 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 goods, excluding value added tax, except in respect of service
contracts where turnover is recognised when the company obtains the right to consideration.

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 etc - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

Going concern
In summer 2014 the company moved premises following a decision to invest in new equipment. Changes in the
market in which the company operated meant significant investment was required to enable it to access new
revenue streams and customers. As a result the company has maintained turnover in the current financial period
despite a significant reduction in revenue from the services it previously offered. The company has also
improved gross margins and now has the capacity to grow without any increase to its current cost base. Earnings
before interest, taxation and depreciation have increased from £38,476 (year to March 2015) to £148,268 (15
months to 30 June 2016) however turnover needs to increase to fund the costs of financing the expansion. The
company is in the process of securing a contract which would enable it to exceed its target turnover for 2016/17
and the director is of the opinion the financial statements should be prepared on a going concern basis.

Colmet Precision Limited (Registered number: 03259096)

Notes to the Abbreviated Accounts - continued
for the period 1 April 2015 to 30 June 2016


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 932,232
Additions 21,895
Disposals (16,775 )
At 30 June 2016 937,352
DEPRECIATION
At 1 April 2015 327,067
Charge for period 109,739
Eliminated on disposal (8,186 )
At 30 June 2016 428,620
NET BOOK VALUE
At 30 June 2016 508,732
At 31 March 2015 605,165

3. CREDITORS

Creditors include an amount of £ 441,950 (2015 - £ 531,663 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100