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REGISTERED NUMBER: 07542540 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HIGH PRECISION (CAMBRIDGE) LIMITED

HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)






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


HIGH PRECISION (CAMBRIDGE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P J Papworth





REGISTERED OFFICE: 115c Milton Road
Cambridge
CB4 1XE





REGISTERED NUMBER: 07542540 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,000 54,500
Tangible assets 5 255,543 271,741
300,543 326,241

CURRENT ASSETS
Debtors 6 248,196 199,288
Cash at bank 25,886 154,512
274,082 353,800
CREDITORS
Amounts falling due within one year 7 212,858 107,860
NET CURRENT ASSETS 61,224 245,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,767

572,181

PROVISIONS FOR LIABILITIES 63,885 67,935
NET ASSETS 297,882 504,246

CAPITAL AND RESERVES
Called up share capital 50 100
Capital redemption reserve 50 -
Retained earnings 297,782 504,146
SHAREHOLDERS' FUNDS 297,882 504,246

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.

HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)

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 8 August 2024 and were signed by:





P J Papworth - Director


HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)

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

1. STATUTORY INFORMATION

High Precision (Cambridge) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 190,000
AMORTISATION
At 1 April 2023 135,500
Amortisation for year 9,500
At 31 March 2024 145,000
NET BOOK VALUE
At 31 March 2024 45,000
At 31 March 2023 54,500

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 199,548 609,306 25,043 27,718 861,615
Additions - 49,363 318 - 49,681
At 31 March 2024 199,548 658,669 25,361 27,718 911,296
DEPRECIATION
At 1 April 2023 106,550 434,965 20,641 27,718 589,874
Charge for year 19,957 44,740 1,182 - 65,879
At 31 March 2024 126,507 479,705 21,823 27,718 655,753
NET BOOK VALUE
At 31 March 2024 73,041 178,964 3,538 - 255,543
At 31 March 2023 92,998 174,341 4,402 - 271,741

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 244,790 196,036
Prepayments 3,406 3,252
248,196 199,288

HIGH PRECISION (CAMBRIDGE) LIMITED (REGISTERED NUMBER: 07542540)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,462 13,659
Tax 25,235 29,561
Social security and other taxes 7,833 8,181
VAT 27,558 34,814
Other creditors 10,346 765
Directors' current accounts 127,160 16,560
Accruals and deferred income 5,264 4,320
212,858 107,860

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £75,384 (2023 - £77,418) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr and Mrs P Papworth by virtue of their 100% ownership of the issued ordinary share capital.