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REGISTERED NUMBER: 04697389 (England and Wales)















STAR PRECISION TOOLS LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2024






STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STAR PRECISION TOOLS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: L Bates
Miss J Bates





SECRETARY: N Lockley





REGISTERED OFFICE: 40-42 Potters Lane
Wednesbury
West Midlands
WS10 0AT





REGISTERED NUMBER: 04697389 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 359,943 359,671

CURRENT ASSETS
Stocks 60,000 98,000
Debtors 5 855,234 675,528
Cash at bank 90,601 47,558
1,005,835 821,086
CREDITORS
Amounts falling due within one year 6 688,191 624,995
NET CURRENT ASSETS 317,644 196,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

677,587

555,762

CREDITORS
Amounts falling due after more than one
year

7

56,796

95,413
NET ASSETS 620,791 460,349

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 620,691 460,249
SHAREHOLDERS' FUNDS 620,791 460,349

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 directors acknowledge their 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.

STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





L Bates - Director


STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Star Precision Tools 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 cost and 10% 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 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 - 19 ) .

STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 794,213 14,499 808,712
Additions 45,767 - 45,767
Disposals - (8,500 ) (8,500 )
At 31 March 2024 839,980 5,999 845,979
DEPRECIATION
At 1 April 2023 441,216 7,825 449,041
Charge for year 39,888 (768 ) 39,120
Eliminated on disposal - (2,125 ) (2,125 )
At 31 March 2024 481,104 4,932 486,036
NET BOOK VALUE
At 31 March 2024 358,876 1,067 359,943
At 31 March 2023 352,997 6,674 359,671

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 800,859 625,811
Other debtors 28,125 28,125
Prepayments and accrued income 26,250 21,592
855,234 675,528

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,011 45,011
Trade creditors 476,703 466,723
Social security and other taxes 84,594 35,830
Directors' current accounts 49,000 60,002
Accrued expenses 32,883 17,429
688,191 624,995

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 41,591 41,591
Bank loans - 2-5 years 15,205 53,822
56,796 95,413

STAR PRECISION TOOLS LIMITED (REGISTERED NUMBER: 04697389)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 95,412 134,029

The bank debt is secured by a debenture over the company's assets.