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REGISTERED NUMBER: 10419520 (England and Wales)















OCTAGON PRECISION LIMITED

Unaudited Financial Statements for the Year Ended 30 November 2023






OCTAGON PRECISION LIMITED (REGISTERED NUMBER: 10419520)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OCTAGON PRECISION LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs V Simmons
R Simmons





REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 10419520 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

OCTAGON PRECISION LIMITED (REGISTERED NUMBER: 10419520)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 65,057 55,300
Cash at bank 20,860 -
85,917 55,300
CREDITORS
Amounts falling due within one year 5 62,628 30,424
NET CURRENT ASSETS 23,289 24,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,289

24,876

CREDITORS
Amounts falling due after more than one
year

6

18,700

24,389
NET ASSETS 4,589 487

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,489 387
4,589 487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:




R Simmons - Director


OCTAGON PRECISION LIMITED (REGISTERED NUMBER: 10419520)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Octagon 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,430 48,222
Amounts owed by associates - 7,078
Other debtors 5,993 -
Prepayments 1,634 -
65,057 55,300

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 21,002
Trade creditors 19,817 16,132
Amounts owed to associates 28,220 -
Social security and other taxes 1,091 (10,210 )
Accrued expenses 3,500 3,500
62,628 30,424

OCTAGON PRECISION LIMITED (REGISTERED NUMBER: 10419520)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 8,700 14,389
18,700 24,389

7. RELATED PARTY DISCLOSURES

Included within creditors is a balance for Octagon Precision Properties Limited for £28,220 (2022 - £7,078 Debtor). This is a company under common control.