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REGISTERED NUMBER: 07591372 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

INTERFACE PRECISION ENGINEERING LIMITED

INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

INTERFACE PRECISION ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: I R Casselden
C J Bramsdon
M Love
G D Crew
J K Justice
L Parnell
Mrs H O'Shaughnessy





SECRETARY: I R Casselden





REGISTERED OFFICE: Unit 4
Brunel Road
Churchfields industrial estate
St Leonards on Sea
East Sussex
TN38 9RT





REGISTERED NUMBER: 07591372 (England and Wales)





ACCOUNTANTS: x5 Xeinadin Group
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH

INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 449,100 296,638

CURRENT ASSETS
Stocks 4 623,434 495,613
Debtors 5 372,424 221,250
Cash at bank 366,360 371,666
1,362,218 1,088,529
CREDITORS
Amounts falling due within one year 6 701,409 586,287
NET CURRENT ASSETS 660,809 502,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,109,909

798,880

CREDITORS
Amounts falling due after more than one
year

7

225,555

120,891
NET ASSETS 884,354 677,989

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 883,354 676,989
SHAREHOLDERS' FUNDS 884,354 677,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 9 September 2022 and were signed on its behalf by:




I R Casselden - Director



M Love - Director


INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

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

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.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33.33% on cost

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is not recognised in respect of timing differences that have originated but not reversed at the balance sheet date. The directors accept that this accounting treatment does not comply with Financial Reporting Standard 102 but still conclude that the financial statements give a true and fair view of the company's financial position and performance.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2021 - 22 ) .

INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2021 8,043 672,724 10,058
Additions 4,019 220,900 2,709
Disposals - (11,000 ) (394 )
At 31 March 2022 12,062 882,624 12,373
DEPRECIATION
At 1 April 2021 6,988 386,189 6,107
Charge for year 613 69,020 968
Eliminated on disposal - (5,614 ) -
At 31 March 2022 7,601 449,595 7,075
NET BOOK VALUE
At 31 March 2022 4,461 433,029 5,298
At 31 March 2021 1,055 286,535 3,951

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2021 6,395 31,785 729,005
Additions 1,125 4,726 233,479
Disposals - - (11,394 )
At 31 March 2022 7,520 36,511 951,090
DEPRECIATION
At 1 April 2021 6,395 26,688 432,367
Charge for year 86 4,550 75,237
Eliminated on disposal - - (5,614 )
At 31 March 2022 6,481 31,238 501,990
NET BOOK VALUE
At 31 March 2022 1,039 5,273 449,100
At 31 March 2021 - 5,097 296,638

4. STOCKS
2022 2021
£    £   
Stocks 286,795 182,392
Work-in-progress 67,682 21,768
Finished goods 268,957 291,453
623,434 495,613

INTERFACE PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 07591372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 341,473 191,922
Other debtors 27,535 29,328
Tax 581 -
VAT 2,835 -
372,424 221,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,625 6,312
Hire purchase contracts 50,234 56,066
Trade creditors 303,739 447,201
Amounts owed to related undertakings 303,184 3,613
Tax - 36,309
Social security and other taxes 18,054 14,567
VAT - 11,583
Other creditors 2,783 1,885
Pension Fund 2,393 2,011
Accrued expenses 11,397 6,740
701,409 586,287

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 34,064 43,688
Hire purchase contracts 191,491 77,203
225,555 120,891

8. CHARGE OVER ASSETS

A fixed and floating charge over all assets was made on 28th October 2013 in favour of HSBC Bank PLC.

INTERFACE PRECISION ENGINEERING LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
INTERFACE PRECISION ENGINEERING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2022.

We have prepared these finance statements, which comprise the Income Statement, Balance Sheet and the related notes, based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".

You have determined that the company is exempt from the statutory requirement for an audit for this accounting period. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors of the company for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






x5 Xeinadin Group
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH


9 September 2022