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REGISTERED NUMBER: 04921648 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MARCH PRECISION ENGINEERING LIMITED

MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARCH PRECISION ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mr M T W Vincent
Mrs J Vincent





REGISTERED OFFICE: Unit 8
Pegasus Court
North Lane
Aldershot
Hampshire
GU12 4QP





REGISTERED NUMBER: 04921648 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,806 228,556

CURRENT ASSETS
Debtors 5 203,947 175,762
Cash at bank 12,026 75,560
215,973 251,322
CREDITORS
Amounts falling due within one year 6 174,428 155,813
NET CURRENT ASSETS 41,545 95,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,351

324,065

CREDITORS
Amounts falling due after more than one year 7 (26,955 ) (66,107 )

PROVISIONS FOR LIABILITIES 8 (37,718 ) (41,736 )
NET ASSETS 182,678 216,222

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 182,578 216,122
SHAREHOLDERS' FUNDS 182,678 216,222

MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

BALANCE SHEET - continued
31 OCTOBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 6 June 2024 and were signed on its behalf by:





Mr M T W Vincent - Director


MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

March 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 - 15% on reducing balance

Fixtures and fittings - 25% on reducing balance

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.

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.

MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 November 2022 911,085
Additions 13,839
At 31 October 2023 924,924
Depreciation
At 1 November 2022 682,529
Charge for year 36,589
At 31 October 2023 719,118
Net book value
At 31 October 2023 205,806
At 31 October 2022 228,556

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 198,562 164,904
Other debtors 5,385 10,858
203,947 175,762

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,531 10,781
Hire purchase contracts 29,360 41,621
Trade creditors 54,721 27,104
Taxation and social security 74,370 69,953
Other creditors 5,446 6,354
174,428 155,813

MARCH PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 04921648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,300 25,051
Hire purchase contracts 11,655 41,056
26,955 66,107

Amounts falling due in more than five years:

Repayable by instalments
Bb loan >1 yr 15,300 25,051

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 37,718 41,736

Deferred
tax
£   
Balance at 1 November 2022 41,736
Provided during year (4,018 )
Balance at 31 October 2023 37,718

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100