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REGISTERED NUMBER: 01802313 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 May 2023

for

P E Thomas (Precision) Limited

P E Thomas (Precision) Limited (Registered number: 01802313)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


P E Thomas (Precision) Limited

Company Information
for the Year Ended 31 May 2023







Director: Mr A F Powell





Registered office: Glan Road
Porthcawl
Bridgend
CF36 5DF





Registered number: 01802313 (England and Wales)





Accountants: Curtis, Bowden and Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
Rhondda Cynon Taff
CF40 1AR

P E Thomas (Precision) Limited (Registered number: 01802313)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 7,003 7,797

Current assets
Stocks 5 9,000 11,000
Debtors 6 44,153 37,531
Cash at bank and in hand 168,442 87,195
221,595 135,726
Creditors
Amounts falling due within one year 7 29,662 13,763
Net current assets 191,933 121,963
Total assets less current liabilities 198,936 129,760

Capital and reserves
Called up share capital 10 10
Retained earnings 8 198,926 129,750
Shareholders' funds 198,936 129,760

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 16 November 2023 and were signed by:



Mr A F Powell - Director


P E Thomas (Precision) Limited (Registered number: 01802313)

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

1. Statutory information

P E Thomas (Precision) Limited 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.

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 - 10% straight line basis
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

P E Thomas (Precision) Limited (Registered number: 01802313)

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

3. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

4. Tangible fixed assets
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
Cost
At 1 June 2022
and 31 May 2023 10,000 42,218 11,000 63,218
Depreciation
At 1 June 2022 10,000 37,414 8,007 55,421
Charge for year - 493 301 794
At 31 May 2023 10,000 37,907 8,308 56,215
Net book value
At 31 May 2023 - 4,311 2,692 7,003
At 31 May 2022 - 4,804 2,993 7,797

5. Stocks
31.5.23 31.5.22
£    £   
Stocks 9,000 11,000

6. Debtors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Trade debtors 44,153 37,531

7. Creditors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Trade creditors 1,167 1,809
Taxation and social security 23,745 7,187
Other creditors 4,750 4,767
29,662 13,763

P E Thomas (Precision) Limited (Registered number: 01802313)

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

8. Reserves
Retained
earnings
£   

At 1 June 2022 129,750
Profit for the year 71,176
Dividends (2,000 )
At 31 May 2023 198,926

9. Related party disclosures

The company occupies premises jointly owned Mrs Bevan, the shareholders of the company., A commercial rent was charged of £12,000 for the year to 31 May 2023.

10. Ultimate controlling party

The controlling party is Mrs M Bevan by virtue of her ownership of 100% of the issued ordinary share capital in the company.