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Registration number: 11786402

PACT PRECISION LIMITED

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

PACT PRECISION LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

PACT PRECISION LIMITED

Company Information

Director

Mr Steven John Banfield

Registered office

C/O Hillier Hopkins LLP
249 Silbury Boulevard
Milton Keynes
Bucks
MK9 1NA

Accountants

Minney & Company
249 Silbury Boulevard
Milton Keynes
Bucks
MK9 1NA

 

PACT PRECISION LIMITED

(Registration number: 11786402)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,999,999

1,999,999

Current assets

 

Cash at bank and in hand

 

20,073

94,969

Net assets

 

2,020,072

2,094,968

Capital and reserves

 

Called up share capital

6

400,000

400,000

Retained earnings

1,620,072

1,694,968

Shareholders' funds

 

2,020,072

2,094,968

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 August 2024
 

.........................................
Mr Steven John Banfield
Director

 

PACT PRECISION LIMITED

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/O Hillier Hopkins LLP
249 Silbury Boulevard
Milton Keynes
Bucks
MK9 1NA
United Kingdom

These financial statements were authorised for issue by the director on 22 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

PACT PRECISION LIMITED

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

Total
£

Cost or valuation

At 1 April 2023

1,999,999

Provision

Carrying amount

At 31 March 2024

1,999,999

At 31 March 2023

1,999,999

2024
£

2023
£

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

PACT PRECISION LIMITED

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Pact Precision Engineering Limited

59 Union Street, Dunstable, Beds, LU6 1EX

England

Ordinary

100%

100%

Subsidiary undertakings

Pact Precision Engineering Limited

The principal activity of Pact Precision Engineering Limited is investment holding company.

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

400,000

400,000

400,000

400,000

       

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £0.6875 (2023 - £0.50) per each Ordinary share

275,000

200,000

 

 

8

Related party transactions

Summary of transactions with subsidiaries

Pact Precision Engineering Limited
 During the year the company received dividend distributions amounting to £200,200 (2023 - £335,609)