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REGISTERED NUMBER: 05374445 (England and Wales)










Normac Precision Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Normac Precision Limited (Registered number: 05374445)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Normac Precision Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr M Goldsmith





SECRETARY: Mr M Goldsmith





REGISTERED OFFICE: 6 Weavers Lane
Dyserth
Rhyl
Denbighshire
LL18 6EU





REGISTERED NUMBER: 05374445 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Normac Precision Limited (Registered number: 05374445)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,423 1,895

CURRENT ASSETS
Stocks 5,000 1,500
Debtors 5 19,232 53,017
Cash at bank 27,272 3,960
51,504 58,477
CREDITORS
Amounts falling due within one year 6 11,550 18,232
NET CURRENT ASSETS 39,954 40,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,377

42,140

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 41,375 42,138
SHAREHOLDERS' FUNDS 41,377 42,140

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 director acknowledges his 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 director and authorised for issue on 19 September 2024 and were signed by:





Mr M Goldsmith - Director


Normac Precision Limited (Registered number: 05374445)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Normac Precision 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.
Plant and machinery etc - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Normac Precision Limited (Registered number: 05374445)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 124,494
DEPRECIATION
At 1 April 2023 122,599
Charge for year 472
At 31 March 2024 123,071
NET BOOK VALUE
At 31 March 2024 1,423
At 31 March 2023 1,895

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,131 50,879
Other debtors 101 2,138
19,232 53,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,926 7,156
Taxation and social security 8,258 9,949
Other creditors 1,366 1,127
11,550 18,232

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Goldsmith.