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REGISTERED NUMBER: 04099311 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Medley Precision Engineers Ltd

Medley Precision Engineers Ltd (Registered number: 04099311)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Medley Precision Engineers Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: J I Medley





SECRETARY: Mrs C Medley





REGISTERED OFFICE: 20 Hamilton Way
Oakham Business Park
Mansfield
Nottinghamshire
NG18 5BU





REGISTERED NUMBER: 04099311 (England and Wales)





ACCOUNTANTS: Xeinadin
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ

Medley Precision Engineers Ltd (Registered number: 04099311)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,670,137 1,378,559
1,670,137 1,378,559

CURRENT ASSETS
Stocks 15,000 27,000
Debtors 6 770,307 580,200
Cash at bank and in hand 893,116 438,774
1,678,423 1,045,974
CREDITORS
Amounts falling due within one year 7 1,027,901 536,310
NET CURRENT ASSETS 650,522 509,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,320,659

1,888,223

CREDITORS
Amounts falling due after more than one year 8 (244,411 ) (413,666 )

PROVISIONS FOR LIABILITIES (416,873 ) (274,344 )
NET ASSETS 1,659,375 1,200,213

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,649,375 1,190,213
SHAREHOLDERS' FUNDS 1,659,375 1,200,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Medley Precision Engineers Ltd (Registered number: 04099311)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





J I Medley - Director


Medley Precision Engineers Ltd (Registered number: 04099311)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Medley Precision Engineers Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 25% on reducing balance, 20% on cost and 15% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Medley Precision Engineers Ltd (Registered number: 04099311)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 200,000
AMORTISATION
At 1 October 2023
and 30 September 2024 200,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 2,126,156
Additions 390,760
At 30 September 2024 2,516,916
DEPRECIATION
At 1 October 2023 747,597
Charge for year 99,182
At 30 September 2024 846,779
NET BOOK VALUE
At 30 September 2024 1,670,137
At 30 September 2023 1,378,559

Medley Precision Engineers Ltd (Registered number: 04099311)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 769,661 522,520
Other debtors 646 57,680
770,307 580,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 169,255 209,515
Trade creditors 506,803 106,141
Taxation and social security 188,038 88,533
Other creditors 163,805 132,121
1,027,901 536,310

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 244,411 413,666

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Hire purchase contracts 413,666 623,181

Items on hire purchase are secured against they assets to which they relate.