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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
Page
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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
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Repro Engineering Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
278,726 
250,907 
Current assets
Inventories
418,196 
462,739 
Debtors
619,726 
590,940 
Cash at bank and in hand
372,672 
380,830 
1,410,594 
1,434,509 
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 
Capital and reserves
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
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Repro Engineering Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Pension costs
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
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.
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Repro Engineering Limited Notes to the Accounts for the year ended 31 March 2023
Deferred taxation
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
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
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 
Depreciation
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 
Net book value
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 
5
Debtors
2023 
2022 
£ 
£ 
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 
619,726 
590,940 
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Repro Engineering Limited Notes to the Accounts for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
62,298 
11,438 
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 
Accruals
16,764 
24,029 
250,953 
201,297 
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 
582,580 
621,499 
8
Average number of employees
During the year the average number of employees was 25 (2022: 27).
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