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REGISTERED NUMBER: 01918382 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

T & A PRECISION GRINDING CO. LIMITED

T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T & A PRECISION GRINDING CO. LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A. Oates
Mrs C. Oates





SECRETARY: Mrs C. Oates





REGISTERED OFFICE: 101 Carlisle Street East
Sheffield
South Yorkshire
S4 7QN





REGISTERED NUMBER: 01918382 (England and Wales)





ACCOUNTANTS: S Burgess & Co Ltd
11 Slayleigh Avenue
Sheffield
South Yorkshire
S10 3RA

T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,359 67,354

CURRENT ASSETS
Stocks 5 343,668 415,046
Debtors 6 267,255 275,350
Cash at bank 99,869 113,084
710,792 803,480
CREDITORS
Amounts falling due within one year 7 353,499 376,344
NET CURRENT ASSETS 357,293 427,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

410,652

494,490

CREDITORS
Amounts falling due after more than one
year

8

13,098

23,289
NET ASSETS 397,554 471,201

CAPITAL AND RESERVES
Called up share capital 80 80
Capital redemption reserve 100 100
Retained earnings 397,374 471,021
SHAREHOLDERS' FUNDS 397,554 471,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Balance Sheet - continued
30 April 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 13 August 2024 and were signed on its behalf by:




A. Oates - Director



Mrs C. Oates - Director


T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

T & A Precision Grinding Co. 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 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 comprises both the invoiced value of the supply of silver steel, and precision grinding services, excluding valued added tax. Turnover relating to silver steel is recognised upon delivery to the customer, and precision grinding services turnover is recognised upon completion.

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 property - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks and work in progress
Raw material and finished goods stock are valued at cost.

Work in progress represents the sum of raw material costs, plus a proportion of direct labour costs, in order to reflect the level of completion of each job in progress.

Due allowance is made for obsolete and slow moving items, as necessary.

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.


T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account over the relevant period, The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

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.

Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 30,174 262,632 14,263 51,300 358,369
Additions - - 1,598 - 1,598
Disposals - - (3,968 ) (16,800 ) (20,768 )
At 30 April 2024 30,174 262,632 11,893 34,500 339,199
DEPRECIATION
At 1 May 2023 30,174 220,544 9,113 31,184 291,015
Charge for year - 8,418 906 4,851 14,175
Eliminated on disposal - - (3,260 ) (16,090 ) (19,350 )
At 30 April 2024 30,174 228,962 6,759 19,945 285,840
NET BOOK VALUE
At 30 April 2024 - 33,670 5,134 14,555 53,359
At 30 April 2023 - 42,088 5,150 20,116 67,354

5. STOCKS
30.4.24 30.4.23
£    £   
Raw materials 8,141 20,507
Work-in-progress - 1,500
Finished goods 335,527 393,039
343,668 415,046

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 267,255 275,350

T & A PRECISION GRINDING CO. LIMITED (REGISTERED NUMBER: 01918382)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,191 9,936
Hire purchase contracts (see note 9) - 11,150
Trade creditors 120,581 183,514
Social security and other taxes 1,812 2,159
VAT 66,324 64,011
Other creditors 24,699 -
Directors' current accounts 126,092 101,774
Accrued expenses 3,800 3,800
353,499 376,344

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 13,098 23,289

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year - 11,150

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 45,372 39,180
Between one and five years 171,674 186,518
In more than five years - 10,404
217,046 236,102