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REGISTERED NUMBER: 00843372 (England and Wales)















PAKTRONIC ENGINEERING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PAKTRONIC ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00843372)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PAKTRONIC ENGINEERING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J G Wright
Mrs V M Wright
S J Wright



SECRETARY: S J Wright



REGISTERED OFFICE: Alma Park Industrial Estate
Grantham
Lincolnshire
NG31 9SE



REGISTERED NUMBER: 00843372 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: National Westminster Bank plc
27-28 St Peter's Hill
Grantham
Lincolnshire
NG31 6QG

PAKTRONIC ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00843372)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 283,515 148,632

CURRENT ASSETS
Stocks 4,660 3,450
Debtors 5 736,831 1,181,493
Cash at bank and in hand 4,022,858 3,775,682
4,764,349 4,960,625
CREDITORS
Amounts falling due within one year 6 672,275 776,123
NET CURRENT ASSETS 4,092,074 4,184,502
TOTAL ASSETS LESS CURRENT LIABILITIES 4,375,589 4,333,134

PROVISIONS FOR LIABILITIES 14,504 8,166
NET ASSETS 4,361,085 4,324,968

CAPITAL AND RESERVES
Called up share capital 7 5,000 5,000
Capital redemption reserve 5,000 5,000
Retained earnings 4,351,085 4,314,968
SHAREHOLDERS' FUNDS 4,361,085 4,324,968

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





J G Wright - Director


PAKTRONIC ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00843372)

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

1. STATUTORY INFORMATION

Paktronic Engineering Company 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 consideration received, for the design, manufacture and assembly of electronic equipment, excluding value added tax.

Turnover is recognised when the significant risks and rewards of ownership of the product have transferred to the customer, which may be upon completion or shipment depending on the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Buildings - 2% on cost and nil on land
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Stocks
Stocks are valued at the lower of cost and fair value less costs to sell, 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 38 (2023 - 36 ) .

PAKTRONIC ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00843372)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 181,876 521,680 703,556
Additions 115,022 84,263 199,285
Disposals - (54,633 ) (54,633 )
At 31 March 2024 296,898 551,310 848,208
DEPRECIATION
At 1 April 2023 112,092 442,832 554,924
Charge for year 2,966 30,188 33,154
Eliminated on disposal - (23,385 ) (23,385 )
At 31 March 2024 115,058 449,635 564,693
NET BOOK VALUE
At 31 March 2024 181,840 101,675 283,515
At 31 March 2023 69,784 78,848 148,632

Included in cost of land and buildings is freehold land of £ 33,605 (2023 - £ 33,605 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 668,131 1,027,930
Amounts recoverable on contract 42,293 42,719
Other debtors - 32,480
Directors' loan accounts 3,610 14,872
Prepayments 22,797 63,492
736,831 1,181,493

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 349,495 348,692
Taxation 38,190 79,931
Other taxes and social security 60,601 125,476
Other creditors 98,409 97,456
Accruals and deferred income 7,131 6,433
Directors' loan accounts 118,449 118,135
672,275 776,123

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary share capital 1 5,000 5,000

PAKTRONIC ENGINEERING COMPANY LIMITED (REGISTERED NUMBER: 00843372)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

20242023
£ £
Balance outstanding at start of year14,872Nil
Amounts advanced8,73834,872
Amounts repaid20,00020,000
Balance outstanding at end of year3,61014,872
The loan is unsecured, interest free and repayable upon demand.