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REGISTERED NUMBER: 02407627 (England and Wales)









T & C PRECISION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)






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


T & C PRECISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T Lee
M T Lee





SECRETARY: Mrs J Lee





REGISTERED OFFICE: Chartwell Building Unit 2
Manor Road
Emsworth
Hampshire
PO10 8NX





REGISTERED NUMBER: 02407627 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 378,695 345,965

CURRENT ASSETS
Stocks 85,000 15,000
Debtors 5 122,939 56,220
Cash at bank 165,796 140,874
373,735 212,094
CREDITORS
Amounts falling due within one year 6 210,597 111,537
NET CURRENT ASSETS 163,138 100,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,833

446,522

CREDITORS
Amounts falling due after more than one
year

7

(40,333

)

(15,752

)

PROVISIONS FOR LIABILITIES (82,350 ) (57,000 )
NET ASSETS 419,150 373,770

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 419,050 373,670
SHAREHOLDERS' FUNDS 419,150 373,770

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 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.

T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:





T Lee - Director


T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

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

1. STATUTORY INFORMATION

T & C 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on reducing balance

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method


T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

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

2. ACCOUNTING POLICIES - continued
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.

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.

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 5 (2023 - 5 ) .

T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 40,733 581,975 38,043
Additions - 120,072 1,455
Disposals - (28,115 ) -
At 31 March 2024 40,733 673,932 39,498
DEPRECIATION
At 1 April 2023 2,580 324,343 22,642
Charge for year 215 74,710 3,328
Eliminated on disposal - (23,394 ) -
At 31 March 2024 2,795 375,659 25,970
NET BOOK VALUE
At 31 March 2024 37,938 298,273 13,528
At 31 March 2023 38,153 257,632 15,401

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 23,500 32,892 717,143
Additions - 9,691 131,218
Disposals - (10,342 ) (38,457 )
At 31 March 2024 23,500 32,241 809,904
DEPRECIATION
At 1 April 2023 7,442 14,171 371,178
Charge for year 4,700 5,382 88,335
Eliminated on disposal - (4,910 ) (28,304 )
At 31 March 2024 12,142 14,643 431,209
NET BOOK VALUE
At 31 March 2024 11,358 17,598 378,695
At 31 March 2023 16,058 18,721 345,965

T & C PRECISION LIMITED (REGISTERED NUMBER: 02407627)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 - 23,500 23,500
Additions 90,000 - 90,000
At 31 March 2024 90,000 23,500 113,500
DEPRECIATION
At 1 April 2023 - 7,442 7,442
Charge for year 18,000 4,700 22,700
At 31 March 2024 18,000 12,142 30,142
NET BOOK VALUE
At 31 March 2024 72,000 11,358 83,358
At 31 March 2023 - 16,058 16,058

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,714 40,441
Other debtors 6,225 15,779
122,939 56,220

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 42,921 10,057
Trade creditors 46,896 32,820
Taxation and social security 66,933 13,079
Other creditors 53,847 55,581
210,597 111,537

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 40,333 15,752