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REGISTERED NUMBER: 05102011 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Priory Engineering Limited

Priory Engineering Limited (Registered number: 05102011)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Priory Engineering Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C Dacey
J Dacey





SECRETARY: D J Dacey





REGISTERED OFFICE: Crackley Gates Farm
Crackley Gates
Leycett
Newcastle under Lyme
Staffordshire
ST5 6AW





REGISTERED NUMBER: 05102011 (England and Wales)





ACCOUNTANTS: Gilligans Limited
Unit 4 Lymedale Business Centre
Hooters Hall Road
Lymedale Business Park
Newcastle under Lyme
Staffordshire
ST5 9QF

Priory Engineering Limited (Registered number: 05102011)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,963 43,504

CURRENT ASSETS
Stocks 4,480 4,220
Debtors 5 59,369 67,363
Cash at bank 11,635 23,508
75,484 95,091
CREDITORS
Amounts falling due within one year 6 75,867 93,435
NET CURRENT (LIABILITIES)/ASSETS (383 ) 1,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,580

45,160

CREDITORS
Amounts falling due after more than one year 7 (10,533 ) (5,667 )

PROVISIONS FOR LIABILITIES (3,870 ) (3,870 )
NET ASSETS 30,177 35,623

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 29,977 35,423
SHAREHOLDERS' FUNDS 30,177 35,623

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

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

Priory Engineering Limited (Registered number: 05102011)

Balance Sheet - continued
30 April 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 17 December 2024 and were signed on its behalf by:





C Dacey - Director


Priory Engineering Limited (Registered number: 05102011)

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

1. STATUTORY INFORMATION

Priory Engineering 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 - 20% on reducing balance
Motor vehicles - 25% 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated 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.

Priory Engineering Limited (Registered number: 05102011)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 141,588 55,735 197,323
Additions 14,621 - 14,621
At 30 April 2024 156,209 55,735 211,944
DEPRECIATION
At 1 May 2023 128,837 24,982 153,819
Charge for year 5,474 7,688 13,162
At 30 April 2024 134,311 32,670 166,981
NET BOOK VALUE
At 30 April 2024 21,898 23,065 44,963
At 30 April 2023 12,751 30,753 43,504

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 59,369 66,154
Other debtors - 1,209
59,369 67,363

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 6,800 4,000
Trade creditors 34,210 52,469
Taxation and social security 14,829 8,028
Other creditors 20,028 28,938
75,867 93,435

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 10,533 5,667

Priory Engineering Limited (Registered number: 05102011)

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

8. RELATED PARTY DISCLOSURES

The premises which the company trades from are owned by C Dacey and Mrs D J Dacey. Rent was paid by the company during the year amounting to £13,200.





9. ULTIMATE CONTROLLING PARTY

The controlling party is C Dacey.