Company Registration No. 05018939 (England and Wales)
Milton Precision Engineering Limited
Unaudited accounts
for the year ended 31 March 2024
Milton Precision Engineering Limited
Unaudited accounts
Contents
Milton Precision Engineering Limited
Company Information
for the year ended 31 March 2024
Company Number
05018939 (England and Wales)
Registered Office
127-131 CAMBRIDGE ROAD
MILTON
CAMBRIDGE
CB4 6AT
Milton Precision Engineering Limited
Statement of financial position
as at 31 March 2024
Tangible assets
25,606
32,974
Cash at bank and in hand
737,883
674,845
Creditors: amounts falling due within one year
(161,104)
(181,527)
Net current assets
702,675
661,574
Total assets less current liabilities
728,281
700,576
Provisions for liabilities
Deferred tax
(6,401)
(3,324)
Net assets
721,880
697,252
Called up share capital
1,000
1,000
Profit and loss account
720,880
696,252
Shareholders' funds
721,880
697,252
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 September 2024 and were signed on its behalf by
Simon Heathcote
Director
Company Registration No. 05018939
Milton Precision Engineering Limited
Notes to the Accounts
for the year ended 31 March 2024
Milton Precision Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05018939. The registered office is 127-131 CAMBRIDGE ROAD, MILTON, CAMBRIDGE, CB4 6AT.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Goodwill
Milton Precision Engineering Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
159,273
29,233
188,506
At 31 March 2024
159,787
29,233
189,020
At 1 April 2023
130,851
24,681
155,532
Charge for the year
7,230
1,138
8,368
At 31 March 2024
137,595
25,819
163,414
At 31 March 2024
22,192
3,414
25,606
At 31 March 2023
28,422
4,552
32,974
Amounts falling due within one year
Trade debtors
108,940
143,886
Accrued income and prepayments
10,232
7,662
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
72,622
101,713
Taxes and social security
26,788
36,942
Loans from directors
21,000
2,184
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Transactions with related parties
The company paid dividends of £32,300 (2022: £27,685) to the director Mr S Heathcote.
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Average number of employees
During the year the average number of employees was 7 (2023: 7).