Company registration number 09843800 (England and Wales)
Staffordshire Precision Engineering Holdings Limited
Unaudited financial statements
For the year ended 30 April 2023
Staffordshire Precision Engineering Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Staffordshire Precision Engineering Holdings Limited
Statement of financial position
As at 30 April 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
2
40
40
Current assets
Debtors
3
259,884
306,499
Creditors: amounts falling due within one year
4
(84,272)
(252,287)
Net current assets
175,612
54,212
Net assets
175,652
54,252
Capital and reserves
Called up share capital
96
96
Profit and loss reserves
175,556
54,156
Total equity
175,652
54,252
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mr P D Smith
Mr G C Smith
Director
Director
Company Registration No. 09843800
Staffordshire Precision Engineering Holdings Limited
Notes to the financial statements
For the year ended 30 April 2023
- 2 -
1
Accounting policies
Company information
Staffordshire Precision Engineering Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14/15 Rosevale Road, Parkhouse Industrial Estate, Newcastle under Lyme, Staffordshire, England, ST5 7EF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.3
Financial instruments
Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
40
40
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
259,884
306,499
Staffordshire Precision Engineering Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 April 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
84,272
252,287