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REGISTERED NUMBER: 02897976 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

MICRON WORKHOLDING LIMITED

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)






Contents of the Financial Statements
for the year ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICRON WORKHOLDING LIMITED

Company Information
for the year ended 29 FEBRUARY 2024







DIRECTORS: M H Jenness
M Jenness
J Fossey





SECRETARY: M Jenness





REGISTERED OFFICE: Nene Road
Bicton Industrial Park
Kimbolton
Cambridgeshire
PE28 0LF





REGISTERED NUMBER: 02897976 (England and Wales)





ACCOUNTANTS: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 305,286 349,376

CURRENT ASSETS
Stocks 55,193 52,908
Debtors 5 150,218 96,464
Cash at bank - 7,177
205,411 156,549
CREDITORS
Amounts falling due within one year 6 198,836 154,461
NET CURRENT ASSETS 6,575 2,088
TOTAL ASSETS LESS CURRENT LIABILITIES 311,861 351,464

CREDITORS
Amounts falling due after more than one
year

7

(86,520

)

(105,192

)

PROVISIONS FOR LIABILITIES (21,849 ) (27,498 )
NET ASSETS 203,492 218,774

CAPITAL AND RESERVES
Called up share capital 10 9,077 9,077
Retained earnings 194,415 209,697
SHAREHOLDERS' FUNDS 203,492 218,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Balance Sheet - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





M Jenness - Director


MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Notes to the Financial Statements
for the year ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Micron Workholding 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 30 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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

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.

Other grants
The company also receives grants to help with the acquisition of machinery. These are written back to the Profit and Loss Account over the useful life of the machinery or 5 years whichever is the lowest.

3. EMPLOYEES

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 204,649 727,937 35,845 78,069 1,046,500
DEPRECIATION
At 1 March 2023 38,849 605,417 33,341 19,517 697,124
Charge for year 4,323 24,503 626 14,638 44,090
At 29 February 2024 43,172 629,920 33,967 34,155 741,214
NET BOOK VALUE
At 29 February 2024 161,477 98,017 1,878 43,914 305,286
At 28 February 2023 165,800 122,520 2,504 58,552 349,376

The net book value of tangible fixed assets includes £ 66,715 (2023 - £ 58,552 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 140,527 93,009
Other debtors 9,691 3,455
150,218 96,464

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 46,063 9,826
Hire purchase contracts 11,922 21,417
Trade creditors 62,604 47,221
Taxation and social security 49,868 32,610
Other creditors 28,379 43,387
198,836 154,461

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 37,589 27,545
Hire purchase contracts 41,307 53,229
Other creditors 7,624 24,418
86,520 105,192

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 31,453 -
Bank loans 10,098 9,826
HSBC loan less than 1 yr 4,512 -
Other loans 19,667 34,196
65,730 44,022

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,354 10,075
HSBC loan 1-2 yrs 4,935 -
Other loans - 1-2 years - 18,957
15,289 29,032

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,162 17,470
HSBC loan 2-5 yrs 16,138 -
Other loans - 2-5 years 5,225 2,462
27,525 19,932

MICRON WORKHOLDING LIMITED (REGISTERED NUMBER: 02897976)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 52,199 37,371
Other loans 24,892 55,615
Hire purchase contracts 53,229 74,646
130,320 167,632

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
9,002 Ordinary £1 9,002 9,002
25 A Ordinary £1 25 25
25 B Ordinary £1 25 25
25 C Ordinary £1 25 25
9,077 9,077

11. RELATED PARTY DISCLOSURES

The company was under control of Mr M H Jenness and his family throughout the current and previous year. Mr M H Jenness is the majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed exception of the payment of dividends on A, B and C shares, all of which are paid to directors.