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REGISTERED NUMBER: 07485505 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Cox CNC Precision Engineering Limited

Cox CNC Precision Engineering Limited (Registered number: 07485505)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cox CNC Precision Engineering Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D A Cox
Mrs J D Cox





SECRETARY: Mrs J D Cox





REGISTERED OFFICE: Unit 3 Benson Road
Nuffield Industrial Estate
Poole
Dorset
BH17 0GB





REGISTERED NUMBER: 07485505 (England and Wales)





ACCOUNTANTS: TS Accounting UK Limited
20 Kingsmead Business Park
Gillingham
Dorset
SP8 5JG

Cox CNC Precision Engineering Limited (Registered number: 07485505)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,077 107,389

CURRENT ASSETS
Debtors 5 38,037 50,818
Cash at bank 3,456 11,261
41,493 62,079
CREDITORS
Amounts falling due within one year 6 58,805 73,896
NET CURRENT LIABILITIES (17,312 ) (11,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,765

95,572

CREDITORS
Amounts falling due after more than
one year

7

(42,568

)

(53,953

)

PROVISIONS FOR LIABILITIES 10 (19,585 ) (20,404 )
NET ASSETS 23,612 21,215

Cox CNC Precision Engineering Limited (Registered number: 07485505)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 23,610 21,213
SHAREHOLDERS' FUNDS 23,612 21,215

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

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

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 Board of Directors and authorised for issue on 18 December 2023 and were signed on its behalf by:





D A Cox - Director


Cox CNC Precision Engineering Limited (Registered number: 07485505)

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

1. STATUTORY INFORMATION

Cox CNC Precision 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.

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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Cox CNC Precision Engineering Limited (Registered number: 07485505)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 186,611 2,497 48,830 1,744 239,682
Additions 12,839 - - 286 13,125
Disposals - - (14,527 ) - (14,527 )
At 31 March 2023 199,450 2,497 34,303 2,030 238,280
DEPRECIATION
At 1 April 2022 107,613 1,412 21,648 1,620 132,293
Charge for year 9,184 271 6,432 96 15,983
Eliminated on disposal - - (13,073 ) - (13,073 )
At 31 March 2023 116,797 1,683 15,007 1,716 135,203
NET BOOK VALUE
At 31 March 2023 82,653 814 19,296 314 103,077
At 31 March 2022 78,998 1,085 27,182 124 107,389

Cox CNC Precision Engineering Limited (Registered number: 07485505)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 25,828 47,813
Other debtors 12,209 3,005
38,037 50,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 14,000 9,092
Hire purchase contracts (see note 8) 4,239 16,133
Trade creditors 8,841 29,977
Taxation and social security 28,177 13,344
Other creditors 3,548 5,350
58,805 73,896

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,000 28,793
Hire purchase contracts (see note 8) 20,568 25,160
42,568 53,953

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 4,239 16,133
Between one and five years 20,568 25,160
24,807 41,293

Cox CNC Precision Engineering Limited (Registered number: 07485505)

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

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 10,000 10,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 24,807 41,293

Amounts owing under finance lease agreements are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 19,585 20,404

Deferred
tax
£   
Balance at 1 April 2022 20,404
Provided during year (819 )
Balance at 31 March 2023 19,585

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

Cox CNC Precision Engineering Limited (Registered number: 07485505)

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

12. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, Mr and Mrs Cox, who between them own 100% of the issued share capital.