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REGISTERED NUMBER: 08445152 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

DJC Precision Engineering Ltd

DJC Precision Engineering Ltd (Registered number: 08445152)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DJC Precision Engineering Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R K Carpenter
D R Carpenter
Mrs B Carpenter
Mrs J B Clayton





REGISTERED OFFICE: 2 High Street
Burnham on Crouch
Essex
CM0 8AA





REGISTERED NUMBER: 08445152 (England and Wales)





ACCOUNTANTS: Harvey Smith & Co DVQ Limited
A Xeinadin Company
2 High Street
Burnham on Crouch
Essex
CM0 8AA

DJC Precision Engineering Ltd (Registered number: 08445152)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 25,019
Tangible assets 5 19,746 16,475
31,746 41,494

CURRENT ASSETS
Debtors 6 120,597 115,617
Cash at bank 17,690 26,875
138,287 142,492
CREDITORS
Amounts falling due within one year 7 166,851 184,567
NET CURRENT LIABILITIES (28,564 ) (42,075 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,182

(581

)

CREDITORS
Amounts falling due after more than one
year

8

36,563

42,461
NET LIABILITIES (33,381 ) (43,042 )

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings (33,485 ) (43,146 )
(33,381 ) (43,042 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

DJC Precision Engineering Ltd (Registered number: 08445152)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





D R Carpenter - Director


DJC Precision Engineering Ltd (Registered number: 08445152)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

DJC Precision Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

The financial statements have been prepared on a going concern basis. This assumes that the company will continue in existence for the foreseeable future.

The validity of this assumption depends on the continued financial support of the directors and creditors.

If the company were unable to continue in operational existence, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for any further liabilities that might arise and to reclassify fixed assets as current assets. Long term liabilities would also have to be reclassified as current liabilities.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

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.


DJC Precision Engineering Ltd (Registered number: 08445152)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 140,000
AMORTISATION
At 1 April 2022 114,981
Charge for year 13,019
At 31 March 2023 128,000
NET BOOK VALUE
At 31 March 2023 12,000
At 31 March 2022 25,019

DJC Precision Engineering Ltd (Registered number: 08445152)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 204,755
Additions 22,950
Disposals (22,400 )
At 31 March 2023 205,305
DEPRECIATION
At 1 April 2022 188,280
Charge for year 7,313
Eliminated on disposal (10,034 )
At 31 March 2023 185,559
NET BOOK VALUE
At 31 March 2023 19,746
At 31 March 2022 16,475

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 120,597 115,617

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 24,452 25,872
Hire purchase contracts 3,853 3,923
Trade creditors 97,748 110,639
Taxation and social security 35,169 24,269
Other creditors 5,629 19,864
166,851 184,567

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,500 32,500
Hire purchase contracts 14,063 9,961
36,563 42,461

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £62,364 (2022 - £66,163) were paid to the directors .