Registered Number 04555432

BEECH PRECISION ENGINEERING LIMITED

Abbreviated Accounts

31 October 2016

BEECH PRECISION ENGINEERING LIMITED Registered Number 04555432

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 57,941 57,828
57,941 57,828
Current assets
Stocks 1,000 1,000
Debtors 29,230 48,391
Cash at bank and in hand 130,532 140,969
160,762 190,360
Creditors: amounts falling due within one year (106,376) (124,218)
Net current assets (liabilities) 54,386 66,142
Total assets less current liabilities 112,327 123,970
Creditors: amounts falling due after more than one year - (13,751)
Provisions for liabilities (11,588) (10,951)
Total net assets (liabilities) 100,739 99,268
Capital and reserves
Called up share capital 3 100 10
Profit and loss account 100,639 99,258
Shareholders' funds 100,739 99,268
  • For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 July 2017

And signed on their behalf by:
Simon Birch, Director

BEECH PRECISION ENGINEERING LIMITED Registered Number 04555432

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% reducing balance
Fixtures, fittings and equipment - 20% reducing balance / 33% straight line
Motor vehicles - 25% reducing balance

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Stock
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date where transactions or events have occurred at that date that will result in an
obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of
fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the
periods in which timing differences reverse, based on tax rates and laws enacted or substantively
enacted at the balance sheet date.

2Tangible fixed assets
£
Cost
At 1 November 2015 153,625
Additions 21,576
Disposals (8,995)
Revaluations -
Transfers -
At 31 October 2016 166,206
Depreciation
At 1 November 2015 95,797
Charge for the year 16,614
On disposals (4,146)
At 31 October 2016 108,265
Net book values
At 31 October 2016 57,941
At 31 October 2015 57,828
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
85 Ordinary shares of £1 each (9 shares for 2015) 85 9
15 A Ordinary shares of £1 each (1 shares for 2015) 15 1