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Registration number: 05463993

RA Precision Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

RA Precision Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

RA Precision Limited

(Registration number: 05463993)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

25,776

32,266

Current assets

 

Stocks

6

3,892

300

Debtors

7

2,850

24,424

Cash at bank and in hand

 

2,769

1,963

 

9,511

26,687

Creditors: Amounts falling due within one year

8

(27,482)

(47,571)

Net current liabilities

 

(17,971)

(20,884)

Net assets

 

7,805

11,382

Capital and reserves

 

Called up share capital

1

1

Retained earnings

7,804

11,381

Shareholders' funds

 

7,805

11,382

 

RA Precision Limited

(Registration number: 05463993)
Balance Sheet as at 31 March 2024

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.

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 30 August 2024
 

.........................................
RJ Alexander
Director

 

RA Precision Limited

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum of net book value

plant and equipment

25% per annum of cost

 

RA Precision Limited

Notes to the Unaudited 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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

Taxation

2024

2023

£

£

Corporation tax

3,733

925

Deferred tax

-

-

3,733

925

4

Staff numbers

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

 

RA Precision Limited

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

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

18,436

24,585

43,021

Additions

2,102

-

2,102

At 31 March 2024

20,538

24,585

45,123

Depreciation

At 1 April 2023

4,609

6,146

10,755

Charge for the year

3,982

4,610

8,592

At 31 March 2024

8,591

10,756

19,347

Carrying amount

At 31 March 2024

11,947

13,829

25,776

At 31 March 2023

13,827

18,439

32,266

6

Stocks

2024
£

2023
£

Other inventories

3,892

300

7

Debtors

Current

2024
£

2023
£

Trade debtors

-

21,200

Prepayments

2,850

3,224

 

2,850

24,424

 

RA Precision Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

16,030

-

Taxation and social security

3,733

1,179

Other creditors

7,719

46,392

27,482

47,571

9

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

RJ Alexander

Directors loan account

(46,392)

45,679

(713)