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REGISTERED NUMBER: 08085759 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

HILLGATE PRECISION ENGINEERS LTD.

HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


HILLGATE PRECISION ENGINEERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr M Sullivan
Mr D Greaves





REGISTERED OFFICE: Unit 3
Welkin Road
Bredbury
Stockport
Cheshire
SK6 2BH





REGISTERED NUMBER: 08085759 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3 3
Tangible assets 5 18,418 20,344
18,421 20,347

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 6 95,507 122,400
Cash at bank and in hand 349,666 310,642
447,173 435,042
CREDITORS
Amounts falling due within one year 7 95,641 106,643
NET CURRENT ASSETS 351,532 328,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,953

348,746

PROVISIONS FOR LIABILITIES 8 4,605 5,086
NET ASSETS 365,348 343,660

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 365,248 343,560
SHAREHOLDERS' FUNDS 365,348 343,660

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

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

HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)

BALANCE SHEET - continued
31 MAY 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 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 August 2024 and were signed on its behalf by:




Mr M Sullivan - Director



Mr D Greaves - Director


HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)

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

1. STATUTORY INFORMATION

Hillgate Precision Engineers Ltd. 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 represents the total amount receivable by the company for goods supplied and services provided, excluding value added tax and trade discounts.

Goodwill
Goodwill is the amount paid for the acquisition of a business in 2012.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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, 20% on reducing balance and 15% on reducing balance

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

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.

HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)

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

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 3
NET BOOK VALUE
At 31 May 2024 3
At 31 May 2023 3

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 93,230
Additions 2,500
At 31 May 2024 95,730
DEPRECIATION
At 1 June 2023 72,886
Charge for year 4,426
At 31 May 2024 77,312
NET BOOK VALUE
At 31 May 2024 18,418
At 31 May 2023 20,344

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 84,626 112,506
Other debtors 10,881 9,894
95,507 122,400

HILLGATE PRECISION ENGINEERS LTD. (REGISTERED NUMBER: 08085759)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors 5,603 6,101
Taxation and social security 38,107 44,413
Other creditors 51,931 56,129
95,641 106,643

8. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
£    £   
Deferred tax 4,605 5,086

Deferred
tax
£   
Balance at 1 June 2023 5,086
Credit to Statement of Income and Retained Earnings during year (481 )
Balance at 31 May 2024 4,605

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
50 Ordinary 'A' £1 50 50
50 Ordinary 'B' £1 50 50
100 100

The shares rank paris passu in all respects, other than they carry differential rights to dividends.