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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
Page
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Milton Precision Engineering Limited Company Information for the year ended 31 March 2024
Director
Simon Heathcote
Company Number
05018939 (England and Wales)
Registered Office
127-131 CAMBRIDGE ROAD MILTON CAMBRIDGE CB4 6AT
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Milton Precision Engineering Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
6,028 
Tangible assets
25,606 
32,974 
25,606 
39,002 
Current assets
Inventories
6,724 
7,825 
Debtors
119,172 
160,431 
Cash at bank and in hand
737,883 
674,845 
863,779 
843,101 
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 
Capital and reserves
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
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Milton Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
100,472 
At 31 March 2024
100,472 
Amortisation
At 1 April 2023
94,444 
Charge for the year
6,028 
At 31 March 2024
100,472 
Net book value
At 31 March 2024
- 
At 31 March 2023
6,028 
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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 
Additions
1,000 
- 
1,000 
Disposals
(486)
- 
(486)
At 31 March 2024
159,787 
29,233 
189,020 
Depreciation
At 1 April 2023
130,851 
24,681 
155,532 
Charge for the year
7,230 
1,138 
8,368 
On disposals
(486)
- 
(486)
At 31 March 2024
137,595 
25,819 
163,414 
Net book value
At 31 March 2024
22,192 
3,414 
25,606 
At 31 March 2023
28,422 
4,552 
32,974 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
108,940 
143,886 
Accrued income and prepayments
10,232 
7,662 
Other debtors
- 
8,883 
119,172 
160,431 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
32,458 
35,785 
Trade creditors
72,622 
101,713 
Taxes and social security
26,788 
36,942 
Other creditors
8,236 
899 
Loans from directors
21,000 
2,184 
Accruals
- 
4,004 
161,104 
181,527 
8
Transactions with related parties
The company paid dividends of £32,300 (2022: £27,685) to the director Mr S Heathcote.
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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