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REGISTERED NUMBER: 02365897 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

MICROTECH PRECISION LIMITED

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICROTECH PRECISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: D I Evans
B L Evans



REGISTERED OFFICE: Bersham Enterprise Centre
Plas Grono Road
Rhostyllen
Wrexham
LL14 4EG



REGISTERED NUMBER: 02365897 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: HSBC Bank plc
High Street
Ruabon
Wrexham
LL14 6AA

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

BALANCE SHEET
30TH APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,259 96,792

CURRENT ASSETS
Stocks 5 39,683 51,896
Debtors 6 320,731 313,811
Cash at bank 760,699 427,549
1,121,113 793,256
CREDITORS
Amounts falling due within one year 7 211,523 154,472
NET CURRENT ASSETS 909,590 638,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

995,849

735,576

PROVISIONS FOR LIABILITIES 8 32,758 13,761
NET ASSETS 963,091 721,815

CAPITAL AND RESERVES
Called up share capital 9 90 90
Retained earnings 963,001 721,725
SHAREHOLDERS' FUNDS 963,091 721,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

BALANCE SHEET - continued
30TH APRIL 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th October 2023 and were signed on its behalf by:





D I Evans - Director


MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

Microtech Precision 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 has arisen wholly within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 12.5% on cost
Fixtures, fittings & equipment - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Short Plant and fittings
leasehold machinery & equipment
£    £    £   
COST
At 1st May 2022 100,790 685,036 83,331
Additions - 6,113 -
At 30th April 2023 100,790 691,149 83,331
DEPRECIATION
At 1st May 2022 100,790 599,238 83,167
Charge for year - 22,826 58
At 30th April 2023 100,790 622,064 83,225
NET BOOK VALUE
At 30th April 2023 - 69,085 106
At 30th April 2022 - 85,798 164

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st May 2022 25,558 28,744 923,459
Additions - 12,601 18,714
At 30th April 2023 25,558 41,345 942,173
DEPRECIATION
At 1st May 2022 17,361 26,111 826,667
Charge for year 4,099 2,264 29,247
At 30th April 2023 21,460 28,375 855,914
NET BOOK VALUE
At 30th April 2023 4,098 12,970 86,259
At 30th April 2022 8,197 2,633 96,792

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

5. STOCKS
30.4.23 30.4.22
£    £   
Stocks 15,000 15,000
Work-in-progress 24,683 36,896
39,683 51,896

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 286,521 280,809
Directors' current accounts 29,496 27,800
Prepayments 4,714 5,202
320,731 313,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 85,402 90,087
Tax 78,578 31,847
Social security and other taxes 7,861 7,967
VAT 30,000 10,591
Other creditors 1,302 4,556
Accrued expenses 8,380 9,424
211,523 154,472

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 32,758 13,761

Deferred
tax
£   
Balance at 1st May 2022 13,761
Movement in year due to: -
changes in tax rates 20,310
changes in tax allowances (1,313 )
Balance at 30th April 2023 32,758

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
90 Ordinary £1 90 90

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

10. CAPITAL COMMITMENTS
30.4.23 30.4.22
£    £   
Contracted but not provided for in the
financial statements - -

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th April 2023 and 30th April 2022:

30.4.23 30.4.22
£    £   
D I Evans
Balance outstanding at start of year 12,800 -
Amounts advanced 19,926 12,800
Amounts repaid (15,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,226 12,800

B L Evans
Balance outstanding at start of year 15,000 -
Amounts advanced 270 15,000
Amounts repaid (3,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,270 15,000

Interest is charged on the director loans at the official rate.

12. ULTIMATE CONTROLLING PARTY

The controlling party is D I Evans.