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REGISTERED NUMBER: 13152580 (England and Wales)















EXACT ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXACT ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr T A Lloyd





REGISTERED OFFICE: 40 Newport Road
Stafford
ST16 1BH





REGISTERED NUMBER: 13152580 (England and Wales)

EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 969 1,155

CURRENT ASSETS
Debtors 5 11,964 9,991
Cash at bank 17,259 28,191
29,223 38,182
CREDITORS
Amounts falling due within one year 6 (3,677 ) (9,631 )
NET CURRENT ASSETS 25,546 28,551
TOTAL ASSETS LESS CURRENT LIABILITIES 26,515 29,706

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 26,514 29,705
SHAREHOLDERS' FUNDS 26,515 29,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 July 2024 and were signed by:





Mr T A Lloyd - Director


EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Exact 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from project management services are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the service is provided.

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 etc - 25% on reducing balance, 15% on reducing balance and Straight line over 3 years

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 2,445
Additions 680
At 31 March 2024 3,125
DEPRECIATION
At 1 April 2023 1,290
Charge for year 866
At 31 March 2024 2,156
NET BOOK VALUE
At 31 March 2024 969
At 31 March 2023 1,155

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,952 2,951
Directors' current accounts 5,595 6,389
Tax 2,593 -
VAT 824 36
Prepayments - 615
11,964 9,991

EXACT ENGINEERING LIMITED (REGISTERED NUMBER: 13152580)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation Tax 1,888 6,732
Social security and other taxes 36 36
Accruals and deferred income 1,753 2,863
3,677 9,631

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
Mr T A Lloyd
Balance outstanding at start of year 6,389 -
Amounts advanced - 8,655
Amounts repaid (794 ) (2,266 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,595 6,389

The loan has been provided interest free and is repayable on demand.