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REGISTERED NUMBER: 07058887 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

NORTH BUCKS MACHINING LIMITED

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

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


NORTH BUCKS MACHINING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Ms J A Palmer
Mr S Palmer
Mrs R L Palmer





REGISTERED OFFICE: Prodution Unit New Woad Farm,
Northampton Road
Newport Pagnell
Buckinghamshire
MK16 8QZ





REGISTERED NUMBER: 07058887 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 3 6,923 7,870
Tangible assets 4 682,612 769,931
689,535 777,801

CURRENT ASSETS
Stocks 80,000 80,000
Debtors 5 162,983 240,512
Cash at bank and in hand 29,268 44,762
272,251 365,274
CREDITORS
Amounts falling due within one year 6 380,253 427,064
NET CURRENT LIABILITIES (108,002 ) (61,790 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

581,533

716,011

CREDITORS
Amounts falling due after more than one
year

7

(150,751

)

(212,685

)

PROVISIONS FOR LIABILITIES (157,352 ) (134,537 )
NET ASSETS 273,430 368,789

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 273,330 368,689
SHAREHOLDERS' FUNDS 273,430 368,789

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.

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

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 21 January 2025 and were signed on its behalf by:





Mrs R L Palmer - Director


NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. 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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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 - 18% or 20% straight line
Fixtures and fittings - 25% on cost
Motor vehicles - at varying rates on cost
Computer equipment - 33% on cost and 25% on cost

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


1. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

3. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 May 2023
and 30 April 2024 9,465
AMORTISATION
At 1 May 2023 1,595
Amortisation for year 947
At 30 April 2024 2,542
NET BOOK VALUE
At 30 April 2024 6,923
At 30 April 2023 7,870

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 May 2023 1,304,031 16,640 41,442 22,821 1,384,934
Additions - - - 844 844
At 30 April 2024 1,304,031 16,640 41,442 23,665 1,385,778
DEPRECIATION
At 1 May 2023 541,257 16,640 36,758 20,348 615,003
Charge for year 80,975 - 4,684 2,504 88,163
At 30 April 2024 622,232 16,640 41,442 22,852 703,166
NET BOOK VALUE
At 30 April 2024 681,799 - - 813 682,612
At 30 April 2023 762,774 - 4,684 2,473 769,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 159,233 236,734
Other debtors 3,750 3,750
Directors' current accounts - 28
162,983 240,512

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 77,631 47,523
Hire purchase contracts 72,532 164,364
Trade creditors 91,911 114,429
Tax (5,090 ) 1,861
Social security and other taxes 5,253 1,499
VAT 82,523 72,881
Other creditors 5,289 -
Directors' current accounts 48,044 23,007
Accruals and deferred income 2,160 1,500
380,253 427,064

NORTH BUCKS MACHINING LIMITED (REGISTERED NUMBER: 07058887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 94,582 83,983
Hire purchase contracts 56,169 128,702
150,751 212,685

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
46 Ordinary A shares 1 100 46
34 Ordinary B shares 1 - 34
20 Ordinary C shares 1 - 20
100 100