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REGISTERED NUMBER: 02870074 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: M C Stevens
S J Stevens
E J Stevens



SECRETARY: S J Stevens



REGISTERED OFFICE: Unit B
Saxon Fields
Old Harborough Road
Brixworth
Northamptonshire
NN6 9BX



REGISTERED NUMBER: 02870074 (England and Wales)



ACCOUNTANTS: DNG Dove Naish LLP
Chartered Accountants
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: HSBC Bank Plc
22 Abington Street
Northampton
NN1 2AN

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 177,070 102,220
177,070 102,220

CURRENT ASSETS
Stocks 70,200 79,900
Debtors 6 850,832 1,006,528
Cash at bank 1,418,277 1,180,052
2,339,309 2,266,480
CREDITORS
Amounts falling due within one year 7 619,602 565,241
NET CURRENT ASSETS 1,719,707 1,701,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,896,777

1,803,459

PROVISIONS FOR LIABILITIES 30,123 8,739
NET ASSETS 1,866,654 1,794,720

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,866,554 1,794,620
SHAREHOLDERS' FUNDS 1,866,654 1,794,720

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

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

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 Comprehensive Income has not been delivered.

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




M C Stevens - Director S J Stevens - Director




E J Stevens - Director


MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Micron Precision (Brixworth) Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill is fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - over the life of the lease
Plant and machinery - 20% on cost
Fixtures, fittings and equipment - 25% on cost and 15% on cost
Motor vehicles - 25% on cost

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.

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 30,000
AMORTISATION
At 1 September 2022
and 31 August 2023 30,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 29,329 1,537,397 189,533 100,204 1,856,463
Additions - 139,833 3,677 - 143,510
At 31 August 2023 29,329 1,677,230 193,210 100,204 1,999,973
DEPRECIATION
At 1 September 2022 19,555 1,495,597 178,604 60,487 1,754,243
Charge for year 4,889 43,120 6,630 14,021 68,660
At 31 August 2023 24,444 1,538,717 185,234 74,508 1,822,903
NET BOOK VALUE
At 31 August 2023 4,885 138,513 7,976 25,696 177,070
At 31 August 2022 9,774 41,800 10,929 39,717 102,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 810,069 872,572
Other debtors 29,505 124,904
Prepayments and accrued income 11,258 9,052
850,832 1,006,528

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 303,411 143,522
Tax 57,810 155,192
Social security and other taxes 20,482 18,815
VAT 96,759 135,857
Other creditors 5,607 3,288
Directors' current accounts 135,533 100,909
Accruals and deferred income - 7,658
619,602 565,241

MICRON PRECISION (BRIXWORTH) ENGINEERING
LIMITED (REGISTERED NUMBER: 02870074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 66,984 66,984
Between one and five years 11,164 78,148
78,148 145,132