Company Registration No. 04095996 (England and Wales)
Repro Engineering Limited
Unaudited accounts
for the year ended 31 March 2023
Repro Engineering Limited
Unaudited accounts
Contents
Repro Engineering Limited
Company Information
for the year ended 31 March 2023
Directors
Mr R Palmer
Mrs L Palmer
Company Number
04095996 (England and Wales)
Registered Office
Unit 6, Aysgarth Road
Waterlooville
Hampshire
PO7 7UG
Accountants
Babcock Tax & Accountancy Services Ltd
The Florins, 8 Lulworth Close
Hayling Island
Hampshire
PO11 0NY
Repro Engineering Limited
Statement of financial position
as at 31 March 2023
Tangible assets
278,726
250,907
Inventories
418,196
462,739
Cash at bank and in hand
372,672
380,830
Creditors: amounts falling due within one year
(250,953)
(201,297)
Net current assets
1,159,641
1,233,212
Total assets less current liabilities
1,438,367
1,484,119
Creditors: amounts falling due after more than one year
(582,580)
(621,499)
Provisions for liabilities
Deferred tax
(52,958)
(47,672)
Net assets
802,829
814,948
Called up share capital
2
2
Profit and loss account
802,827
814,946
Shareholders' funds
802,829
814,948
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by
Mr R Palmer
Director
Company Registration No. 04095996
Repro Engineering Limited
Notes to the Accounts
for the year ended 31 March 2023
Repro Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 04095996. The registered office is Unit 6, Aysgarth Road, Waterlooville, Hampshire, PO7 7UG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & Machinery: 20% on reducing balance
Fixtures & Fittings: 10% on reducing balance
Computer Equipment: 33% on cost
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Hire Purchase & Leasing Commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Taxation for the year compromises 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.
Repro Engineering Limited
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
186,392
71,888
9,916
40,435
308,631
Additions
80,645
-
10,929
1,701
93,275
At 31 March 2023
267,037
71,888
20,845
42,136
401,906
At 1 April 2022
3,091
16,955
7,260
30,418
57,724
Charge for the year
46,138
13,734
1,206
4,378
65,456
At 31 March 2023
49,229
30,689
8,466
34,796
123,180
At 31 March 2023
217,808
41,199
12,379
7,340
278,726
At 31 March 2022
183,301
54,933
2,656
10,017
250,907
Amounts falling due within one year
Trade debtors
597,961
422,394
Amounts due from group undertakings etc.
7,613
141,085
Other debtors
14,152
27,461
Repro Engineering Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
60,454
13,659
Trade creditors
59,806
116,805
Taxes and social security
45,185
28,934
Other creditors
6,446
6,138
Loans from directors
-
294
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
182,580
221,499
Other creditors
400,000
400,000
8
Average number of employees
During the year the average number of employees was 25 (2022: 27).