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REGISTERED NUMBER: 04111346 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

C & M Precision Limited

C & M Precision Limited (Registered number: 04111346)






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


C & M Precision Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J D Cable





SECRETARY: Mrs A Cable





REGISTERED OFFICE: Unit 3
Mill Lane
Maldon
Essex
CM9 4NX





REGISTERED NUMBER: 04111346 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

C & M Precision Limited (Registered number: 04111346)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,124,880 979,676
1,124,880 979,676

CURRENT ASSETS
Stocks 57,799 32,857
Debtors 6 601,348 650,568
Cash at bank and in hand 740,644 907,923
1,399,791 1,591,348
CREDITORS
Amounts falling due within one year 7 301,994 468,488
NET CURRENT ASSETS 1,097,797 1,122,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,222,677

2,102,536

CREDITORS
Amounts falling due after more than one
year

8

(177,709

)

(256,968

)

PROVISIONS FOR LIABILITIES (281,000 ) (245,000 )
NET ASSETS 1,763,968 1,600,568

CAPITAL AND RESERVES
Called up share capital 25,100 25,100
Retained earnings 1,738,868 1,575,468
SHAREHOLDERS' FUNDS 1,763,968 1,600,568

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 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.

C & M Precision Limited (Registered number: 04111346)

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 director and authorised for issue on 27 November 2024 and were signed by:





J D Cable - Director


C & M Precision Limited (Registered number: 04111346)

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

1. STATUTORY INFORMATION

C & M Precision 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.

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


The company is not part of a group.

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.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, was amortised over its estimated useful life of ten 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
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Property improvements - 4 years on cost
Plant and machinery - 10% on reducing balance and 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued at selling price.

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.

C & M Precision Limited (Registered number: 04111346)

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

2. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and depreciated over their estimated useful lives.

Interest is charged to the profit and loss account on a straight line basis over the term of the contract. The capital element of the future payments is carried forward as a liability.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Other financial liabilities are also measured at transaction price, which is not considered to be materially different to fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 139,028
AMORTISATION
At 1 April 2023
and 31 March 2024 139,028
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

C & M Precision Limited (Registered number: 04111346)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 2,215,696
Additions 317,400
Disposals (184,756 )
At 31 March 2024 2,348,340
DEPRECIATION
At 1 April 2023 1,236,020
Charge for year 126,245
Eliminated on disposal (138,805 )
At 31 March 2024 1,223,460
NET BOOK VALUE
At 31 March 2024 1,124,880
At 31 March 2023 979,676

The net book value of assets includes an amount of £378,742 (2023: £427,092) in respect of assets held under hire purchase agreements. Of the depreciation charged in the profit and loss account, £48,350 (2023: £48,350) relates to these assets.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 366,885 543,581
Other debtors 234,463 106,987
601,348 650,568

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 79,259 75,007
Trade creditors 181,319 204,946
Taxation and social security 32,014 170,345
Other creditors 9,402 18,190
301,994 468,488

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 177,709 256,968

C & M Precision Limited (Registered number: 04111346)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 256,968 331,975

Hire purchase liabilities are secured on the assets to which they relate.

10. DIRECTOR'S 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
£    £   
J D Cable
Balance outstanding at start of year 63,433 35,581
Amounts advanced 195,224 155,352
Amounts repaid (96,000 ) (127,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 162,657 63,433