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REGISTERED NUMBER: 05745471






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

J K F Precision Engineering Limited

J K F Precision Engineering Limited (Registered number: 05745471)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


J K F Precision Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R W Gray
K Patterson
T P Stubbins





SECRETARY: T P Stubbins





REGISTERED OFFICE: Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA





REGISTERED NUMBER: 05745471





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J K F Precision Engineering Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J K F Precision Engineering Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J K F Precision Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J K F Precision Engineering Limited and state those matters that we have agreed to state to the Board of Directors of J K F Precision Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J K F Precision Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J K F Precision Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J K F Precision Engineering Limited. You consider that J K F Precision Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J K F Precision Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


Date: .............................................

J K F Precision Engineering Limited (Registered number: 05745471)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,384 31,380

CURRENT ASSETS
Stocks 73,198 76,799
Debtors 5 519,598 635,946
Cash at bank and in hand 580,315 421,943
1,173,111 1,134,688
CREDITORS
Amounts falling due within one year 6 396,324 350,338
NET CURRENT ASSETS 776,787 784,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

847,171

815,730

PROVISIONS FOR LIABILITIES 17,596 5,962
NET ASSETS 829,575 809,768

CAPITAL AND RESERVES
Called up share capital 7 45,000 45,000
Retained earnings 784,575 764,768
SHAREHOLDERS' FUNDS 829,575 809,768

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.

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 20 August 2024 and were signed on its behalf by:





K Patterson - Director


J K F Precision Engineering Limited (Registered number: 05745471)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J K F Precision Engineering Limited is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 33.33% Straight line
Computer equipment - 20% on cost

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 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
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 17 (2023 - 18 ) .

J K F Precision Engineering Limited (Registered number: 05745471)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 771,584 22,778 28,975 73,408 896,745
Additions 35,031 - 20,995 - 56,026
Disposals (23,677 ) - (27,775 ) - (51,452 )
At 31 March 2024 782,938 22,778 22,195 73,408 901,319
DEPRECIATION
At 1 April 2023 748,417 22,774 28,974 65,200 865,365
Charge for year 10,758 - 3,499 2,765 17,022
Eliminated on disposal (23,677 ) - (27,775 ) - (51,452 )
At 31 March 2024 735,498 22,774 4,698 67,965 830,935
NET BOOK VALUE
At 31 March 2024 47,440 4 17,497 5,443 70,384
At 31 March 2023 23,167 4 1 8,208 31,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 222,480 336,581
Other debtors 297,118 299,365
519,598 635,946

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 2,900
Trade creditors 291,327 231,169
Taxation and social security 59,031 78,940
Other creditors 45,966 37,329
396,324 350,338

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45,000 Ordinary £1 45,000 45,000

J K F Precision Engineering Limited (Registered number: 05745471)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T P Stubbins
Balance outstanding at start of year 4,105 4,333
Amounts advanced 79 84
Amounts repaid (1,312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,872 4,105

K Patterson
Balance outstanding at start of year 4,105 4,333
Amounts advanced 79 84
Amounts repaid (1,312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,872 4,105

R W Gray
Balance outstanding at start of year 4,105 4,333
Amounts advanced 79 84
Amounts repaid (1,312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,872 4,105