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Registered Number: 14254956
England and Wales

 

 

 


Abridged Accounts

for the period ended 31 October 2023

for

SMART PRECISION ENGINEERING LTD

 
 
Notes
 
2023
£
Current assets    
Stocks 1,858 
Debtors 18,066 
Cash at bank and in hand 20,199 
40,123 
Creditors: amount falling due within one year (27,682)
Net current assets 12,441 
 
Total assets less current liabilities 12,441 
Net assets 12,441 
 

Capital and reserves
   
Called up share capital 4 100 
Profit and loss account 12,341 
Shareholder's funds 12,441 
 


For the period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 board of directors on 20 February 2024 and were signed on its behalf by:


-------------------------------
Martin Ward
Director
-------------------------------
Timothy Biddle
Director
1
General Information
Smart Precision Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 14254956, registration address Pi House , 40a London Road , Gloucester , Gloucestershire, GL1 3NU .

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.
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
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.
2.

Directors' Emoluments

2023
£
Administrative Expenses
Directors Salaries 7,332 
7,332 

3.

Average number of employees

Average number of employees during the period was 3.
4.

Share Capital

Allotted, called up and fully paid
2023
£
75 Class A shares of £1.00 each 75 
25 Class B shares of £1.00 each 25 
100 

2