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2023-01-01
Sage Accounts Production 23.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
13922643
2023-01-01
2023-12-31
13922643
2023-12-31
13922643
2022-12-31
13922643
2022-01-01
2022-12-31
13922643
2022-12-31
13922643
2021-12-31
13922643
core:PlantMachinery
2023-01-01
2023-12-31
13922643
core:FurnitureFittingsToolsEquipment
2023-01-01
2023-12-31
13922643
core:MotorVehicles
2023-01-01
2023-12-31
13922643
bus:RegisteredOffice
2023-01-01
2023-12-31
13922643
bus:OrdinaryShareClass1
2023-01-01
2023-12-31
13922643
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
13922643
bus:Director1
2023-01-01
2023-12-31
13922643
bus:Director2
2023-01-01
2023-12-31
13922643
bus:Director3
2023-01-01
2023-12-31
13922643
bus:Director5
2023-01-01
2023-12-31
13922643
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
13922643
core:PlantMachinery
2022-12-31
13922643
core:FurnitureFittingsToolsEquipment
2022-12-31
13922643
core:MotorVehicles
2022-12-31
13922643
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
13922643
core:PlantMachinery
2023-12-31
13922643
core:FurnitureFittingsToolsEquipment
2023-12-31
13922643
core:WithinOneYear
2023-12-31
13922643
core:WithinOneYear
2022-12-31
13922643
core:LandBuildings
core:ShortLeaseholdAssets
2023-01-01
2023-12-31
13922643
core:ShareCapital
2023-12-31
13922643
core:ShareCapital
2022-12-31
13922643
core:RetainedEarningsAccumulatedLosses
2023-12-31
13922643
core:RetainedEarningsAccumulatedLosses
2022-12-31
13922643
bus:OrdinaryShareClass1
core:ShareCapital
2023-12-31
13922643
bus:OrdinaryShareClass1
core:ShareCapital
2022-12-31
13922643
core:BetweenOneFiveYears
2023-12-31
13922643
core:BetweenOneFiveYears
2022-12-31
13922643
core:DeferredTaxation
2023-01-01
2023-12-31
13922643
core:AcceleratedTaxDepreciationDeferredTax
2023-12-31
13922643
core:AcceleratedTaxDepreciationDeferredTax
2022-12-31
13922643
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
13922643
core:PlantMachinery
2022-12-31
13922643
core:FurnitureFittingsToolsEquipment
2022-12-31
13922643
core:MotorVehicles
2022-12-31
13922643
core:DeferredTaxation
2022-12-31
13922643
core:DeferredTaxation
2023-12-31
13922643
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2023-01-01
2023-12-31
13922643
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2023-01-01
2023-12-31
13922643
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2023-01-01
2023-12-31
13922643
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2023-01-01
2023-12-31
13922643
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
13922643
1
2023-01-01
2023-12-31
Uniform Precision Tooling Limited
Filleted accounts
31 December 2023
Company registration number:
13922643
Uniform Precision Tooling Limited
Directors and other information
|
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Directors |
J Reeve |
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J C Reeve |
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C Edlund-Reeve |
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A Bates |
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Company number |
13922643 |
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Registered office |
The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Auditor |
Cox Hinkins Audit Services Limited |
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The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Uniform Precision Tooling Limited
Directors responsibilities statement
Year ended 31st December 2023
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Uniform Precision Tooling Limited
Balance sheet
31st December 2023
|
|
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31/12/23 |
|
|
|
31/12/22 |
|
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Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
180,283 |
|
|
|
210,001 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
180,283 |
|
|
|
210,001 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
1,807 |
|
|
|
1,433 |
|
|
Debtors |
|
6 |
116,893 |
|
|
|
93,761 |
|
|
Cash at bank and in hand |
|
|
44,974 |
|
|
|
40,270 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
163,674 |
|
|
|
135,464 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
538,215) |
|
|
|
(
472,934) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
374,541) |
|
|
|
(
337,470) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
194,258) |
|
|
|
(
127,469) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
8 |
|
|
(
31,464) |
|
|
|
(
37,866) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
225,722) |
|
|
|
(
165,335) |
|
|
|
|
|
_______ |
|
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|
_______ |
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|
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Capital and reserves |
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|
|
|
|
|
|
|
|
Called up share capital |
|
10 |
|
|
1 |
|
|
|
1 |
Profit and loss account |
|
|
|
|
(
225,723) |
|
|
|
(
165,336) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder deficit |
|
|
|
|
(
225,722) |
|
|
|
(
165,335) |
|
|
|
|
|
_______ |
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|
_______ |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 September 2024
, and are signed on behalf of the board by:
J C Reeve
Director
Company registration number:
13922643
Uniform Precision Tooling Limited
Notes to the financial statements
Year ended 31st December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be that of
design, manufacture and repair of tools
.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The company continued to incur losses in its second year of trading and is wholly dependent upon the continued financial support of other group companies. The group has indicated its commitment to continue to provide the financial support required for the foreseeable future for the company to continue its business operations and therefore the directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
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Leasehold improvements |
- |
Over the term of the lease |
|
|
Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
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|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured 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 the stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. Financial assets that are measured at cost and amortised and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
4.
Employee numbers
The company does not employ staff directly. All staff costs are recharged by fellow group companies.
5.
Tangible assets
|
|
Leasehold improvements |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st January 2023 |
51,293 |
176,693 |
24,840 |
1,000 |
253,826 |
|
|
|
Additions |
7,615 |
9,351 |
1,551 |
- |
18,517 |
|
|
|
Disposals |
- |
- |
- |
(
1,000) |
(
1,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
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At 31st December 2023 |
58,908 |
186,044 |
26,391 |
- |
271,343 |
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|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
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Depreciation |
|
|
|
|
|
|
|
|
At 1st January 2023 |
1,971 |
37,781 |
3,844 |
229 |
43,825 |
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|
|
Charge for the year |
5,669 |
36,255 |
5,540 |
16 |
47,480 |
|
|
|
Disposals |
- |
- |
- |
(
245) |
(
245) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31st December 2023 |
7,640 |
74,036 |
9,384 |
- |
91,060 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st December 2023 |
51,268 |
112,008 |
17,007 |
- |
180,283 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31st December 2022 |
49,322 |
138,912 |
20,996 |
771 |
210,001 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
31/12/23 |
31/12/22 |
|
|
|
£ |
£ |
|
Trade debtors |
|
66,448 |
41,767 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
15,546 |
4,769 |
|
Other debtors |
|
34,899 |
47,225 |
|
|
|
_______ |
_______ |
|
|
|
116,893 |
93,761 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
31/12/23 |
31/12/22 |
|
|
|
£ |
£ |
|
Trade creditors |
|
16,574 |
23,977 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
500,653 |
423,945 |
|
Other creditors |
|
20,988 |
25,012 |
|
|
|
_______ |
_______ |
|
|
|
538,215 |
472,934 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Provisions
|
|
Deferred tax (note 9) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1st January 2023 |
37,866 |
37,866 |
|
|
|
|
Charges against provisions |
(
6,402) |
(
6,402) |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31st December 2023 |
31,464 |
31,464 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
9.
Deferred tax
The deferred tax included in the Balance sheet is as follows:
|
|
|
31/12/23 |
31/12/22 |
|
|
|
£ |
£ |
|
Included in provisions (note 8) |
|
31,464 |
37,866 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
31/12/23 |
31/12/22 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
31,464 |
37,866 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
|
|
31/12/23 |
|
|
|
31/12/22 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
42,000 |
42,000 |
Later than 1 year and not later than 5 years |
105,000 |
147,000 |
|
_______ |
_______ |
|
147,000 |
189,000 |
|
_______ |
_______ |
|
|
|
12.
Contingent assets and liabilities
The company's bankers hold a fixed and floating charge over the assets of the company. At 31 December 2023, the liability covered by these charges amounted to £Nil.
13.
Summary audit opinion
The auditor's report for the year dated
10 September 2024
was unqualified.
The senior statutory auditor was
Michael Howard Hinkins
for and on behalf of
Cox Hinkins Audit Services Limited
14.
Controlling party
The company is under the control of
Premier Plastics Holdings Ltd
which owns 100% of the issued shares.
15.
Ultimate parent undertaking
Data Plastics Limited, a company incorporated in England and Wales, is regarded by the directors as being the company's ultimate holding company and prepares consolidated accounts for the group.