IRIS Accounts Production v23.1.5.20 03928441 Board of Directors Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039284412022-04-30039284412023-04-30039284412022-05-012023-04-30039284412021-04-30039284412021-05-012022-04-30039284412022-04-3003928441ns15:EnglandWales2022-05-012023-04-3003928441ns14:PoundSterling2022-05-012023-04-3003928441ns10:Director12022-05-012023-04-3003928441ns10:Director22022-05-012023-04-3003928441ns10:PrivateLimitedCompanyLtd2022-05-012023-04-3003928441ns10:SmallEntities2022-05-012023-04-3003928441ns10:AuditExempt-NoAccountantsReport2022-05-012023-04-3003928441ns10:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3003928441ns10:SmallCompaniesRegimeForAccounts2022-05-012023-04-3003928441ns10:FullAccounts2022-05-012023-04-3003928441ns5:CurrentFinancialInstruments2023-04-3003928441ns5:CurrentFinancialInstruments2022-04-3003928441ns5:Non-currentFinancialInstruments2023-04-3003928441ns5:Non-currentFinancialInstruments2022-04-3003928441ns5:ShareCapital2023-04-3003928441ns5:ShareCapital2022-04-3003928441ns5:CapitalRedemptionReserve2023-04-3003928441ns5:CapitalRedemptionReserve2022-04-3003928441ns5:RetainedEarningsAccumulatedLosses2023-04-3003928441ns5:RetainedEarningsAccumulatedLosses2022-04-3003928441ns10:RegisteredOffice2022-05-012023-04-300392844112022-05-012023-04-3003928441ns5:LandBuildings2022-04-3003928441ns5:PlantMachinery2022-04-3003928441ns5:MotorVehicles2022-04-3003928441ns5:ComputerEquipment2022-04-3003928441ns5:LandBuildings2022-05-012023-04-3003928441ns5:PlantMachinery2022-05-012023-04-3003928441ns5:MotorVehicles2022-05-012023-04-3003928441ns5:ComputerEquipment2022-05-012023-04-3003928441ns5:LandBuildings2023-04-3003928441ns5:PlantMachinery2023-04-3003928441ns5:MotorVehicles2023-04-3003928441ns5:ComputerEquipment2023-04-3003928441ns5:LandBuildings2022-04-3003928441ns5:PlantMachinery2022-04-3003928441ns5:MotorVehicles2022-04-3003928441ns5:ComputerEquipment2022-04-3003928441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3003928441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-3003928441ns5:CurrentFinancialInstruments2022-05-012023-04-3003928441ns5:Non-currentFinancialInstruments2022-05-012023-04-30
REGISTERED NUMBER: 03928441 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

C K Precision Engineering Limited

C K Precision Engineering Limited (Registered number: 03928441)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


C K Precision Engineering Limited (Registered number: 03928441)

Balance Sheet
30 April 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 5 113,816 160,496

Current assets
Inventories 15,600 6,900
Debtors 6 204,668 239,723
Cash at bank and in hand 82,008 122,205
302,276 368,828
Creditors
Amounts falling due within one year 7 (224,635 ) (231,837 )
Net current assets 77,641 136,991
Total assets less current liabilities 191,457 297,487

Creditors
Amounts falling due after more than one
year

8

(9,452

)

(31,359

)

Provisions for liabilities (23,508 ) (25,714 )
Net assets 158,497 240,414

Capital and reserves
Called up share capital 550 550
Capital redemption reserve 138 138
Retained earnings 157,809 239,726
158,497 240,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

C K Precision Engineering Limited (Registered number: 03928441)

Balance Sheet - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:




Mr K A Wood - Director



Mr C P L Sargent - Director


C K Precision Engineering Limited (Registered number: 03928441)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. Statutory information

C K Precision Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03928441

Registered office: East Coast House
Galahad Road , Beacon Park
Gorleston
Great Yarmouth
Norfolk
NR31 7RU

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

C K Precision Engineering Limited (Registered number: 03928441)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements - 10% on cost
Plant and machinery - 10% on cost and 25% on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 25% on reducing balance

Inventories
Inventories have been valued at the lower of cost and net estimated selling price, less costs to sell.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


C K Precision Engineering Limited (Registered number: 03928441)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employees and directors

The average number of employees during the year was 20 (2022 - 19 ) .

C K Precision Engineering Limited (Registered number: 03928441)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. Tangible fixed assets
Leasehold Plant and Motor Computer
improvements machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 May 2022 141,914 1,136,279 6,250 44,573 1,329,016
Additions - 5,484 - 2,286 7,770
At 30 April 2023 141,914 1,141,763 6,250 46,859 1,336,786
Depreciation
At 1 May 2022 123,872 1,007,490 6,250 30,908 1,168,520
Charge for year 7,486 43,225 - 3,739 54,450
At 30 April 2023 131,358 1,050,715 6,250 34,647 1,222,970
Net book value
At 30 April 2023 10,556 91,048 - 12,212 113,816
At 30 April 2022 18,042 128,789 - 13,665 160,496

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 193,104 229,083
Other debtors 11,564 10,640
204,668 239,723

7. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts 21,904 37,562
Trade creditors 92,057 44,220
Taxation and social security 97,539 139,315
Other creditors 13,135 10,740
224,635 231,837

Finance leases and hire purchase creditors of £21,904 (2022: £37,562) are secured on the assets concerned.

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Hire purchase contracts 9,452 31,359

Finance leases and hire purchase creditors of £9,452 (2022: £31,359) are secured on the assets concerned.

C K Precision Engineering Limited (Registered number: 03928441)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


9. Financial instruments

Operating lease commitments not included in the balance sheet amount to £921 (2022:
£6,450).