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Registered Number: 11183416
England and Wales

 

 

 


Abridged Accounts

for the period ended 30 March 2023

for

PRECISION CNC DESIGN LIMITED

Accountants report

You consider that the company is exempt from an audit for the year ended 30 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Douglas Marshall
30 March 2023


Wyre Business Consultants Limited
26 Church Street
Kidderminster
Worcestershire
DY10 2AR
24 December 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 44,578    25,834 
44,578    25,834 
Current assets      
Stocks 5,472    4,322 
Debtors 122,948    52,783 
Cash at bank and in hand (16,220)   37,046 
112,200    94,151 
Creditors: amount falling due within one year (125,191)   (131,956)
Net current liabilities (12,991)   (37,805)
 
Total assets less current liabilities 31,587    (11,971)
Creditors: amount falling due after more than one year (41,532)   (7,470)
Provisions for liabilities (3,682)   (4,909)
Net liabilities (13,627)   (24,350)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (13,727)   (24,450)
Shareholder's funds (13,627)   (24,350)
 


For the period ended 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 December 2023 and were signed by:


-------------------------------
Craig Ladek
Director
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General Information
Precision CNC Design Limited is a private company, limited by shares, registered in England and Wales, registration number 11183416, registration address Wilde Farm, Heightington, Bewdley, Worcestershire, DY12 2XZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2022 48,237    20,000    68,237 
Additions   31,495    31,495 
Disposals    
At 30 March 2023 48,237    51,495    99,732 
Depreciation
At 01 April 2022 28,731    13,672    42,403 
Charge for period 4,877    7,874    12,751 
On disposals    
At 30 March 2023 33,608    21,546    55,154 
Net book values
Closing balance as at 30 March 2023 14,629    29,949    44,578 
Opening balance as at 01 April 2022 19,506    6,328    25,834 


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