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REGISTERED NUMBER: 08263632 (England and Wales)





ALL BRITISH PRECISION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

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


ALL BRITISH PRECISION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr I D Howard
Mr R D Allen





REGISTERED OFFICE: Unit 5 Howardson Works
Ashbourne Road, Kirk Langley
Ashbourne
Derbyshire
DE6 4NJ





REGISTERED NUMBER: 08263632 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,620,908 2,328,965

CURRENT ASSETS
Stocks 86,482 88,617
Debtors 6 674,563 836,766
Cash at bank and in hand 471,939 18,777
1,232,984 944,160
CREDITORS
Amounts falling due within one year 7 913,183 1,333,241
NET CURRENT ASSETS/(LIABILITIES) 319,801 (389,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,940,709

1,939,884

CREDITORS
Amounts falling due after more than one
year

8

(741,008

)

(540,884

)

PROVISIONS FOR LIABILITIES (533,952 ) (398,813 )
NET ASSETS 1,665,749 1,000,187

CAPITAL AND RESERVES
Called up share capital 9 203 202
Retained earnings 1,665,546 999,985
SHAREHOLDERS' FUNDS 1,665,749 1,000,187

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

BALANCE SHEET - continued
31 MARCH 2024


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.

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 November 2024 and were signed on its behalf by:





Mr I D Howard - Director


ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

All British Precision 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of precision engineering and machining services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% straight line

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.

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 29 ) .

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,795,888 90,438 117,583 4,003,909
Additions 602,201 56,849 42,285 701,335
At 31 March 2024 4,398,089 147,287 159,868 4,705,244
DEPRECIATION
At 1 April 2023 1,586,679 27,353 60,912 1,674,944
Charge for year 369,582 13,728 26,082 409,392
At 31 March 2024 1,956,261 41,081 86,994 2,084,336
NET BOOK VALUE
At 31 March 2024 2,441,828 106,206 72,874 2,620,908
At 31 March 2023 2,209,209 63,085 56,671 2,328,965

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 308,342 437,339
Amounts owed by related parties 135,557 155,122
Other debtors - 151,440
Directors' current accounts 105,024 -
Prepayments and accrued income 125,640 92,865
674,563 836,766

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 415,565 346,227
Trade creditors 228,821 340,816
Amounts owed to related parties 44,023 -
Corporation tax 68,454 3
Social security and other taxes 25,328 20,969
VAT 62,259 104,435
Directors' current accounts 149 298
Accruals and deferred income 68,584 520,493
913,183 1,333,241

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 741,008 540,884

9. CALLED UP SHARE CAPITAL

Share Type 2024 2023
£    £   
Ordinary £1 200 200
Ordinary A £1 1 1
Ordinary B £1 1 1
Ordinary C £1 1 1
203 203

ALL BRITISH PRECISION LTD (REGISTERED NUMBER: 08263632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr R D Allen
Balance outstanding at start of year (149 ) -
Amounts advanced 165,001 -
Amounts repaid (67,828 ) (149 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 97,024 (149 )

11. RELATED PARTY DISCLOSURES

At the balance sheet date 31 March 2024 there was an amount due from Howardson Limited, a company under common control of £135,557 (2023:£155,122).

At the balance sheet date 31 March 2024 there was an amount due to Hoillant Properties Limited, a company under common control of £44,023 (2023: £NIL).