REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JANUARY 2024 |
FOR |
N L R PRECISION ENGINEERS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JANUARY 2024 |
FOR |
N L R PRECISION ENGINEERS LTD |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
N L R PRECISION ENGINEERS LTD |
COMPANY INFORMATION |
for the Year Ended 30 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Aizlewood's Mill |
Nursery Street |
Sheffield |
S3 8GG |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
BALANCE SHEET |
30 January 2024 |
30.1.24 | 30.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
BALANCE SHEET - continued |
30 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 January 2024 |
1. | STATUTORY INFORMATION |
N L R Precision Engineers Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
NLR Precision Engineers Ltd is a 100% subsidiary of Sheffield Engineering Company Ltd. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents revenue recognised by the company in respect of goods and services supplied during the year, excluding value added tax. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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. |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 January 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 |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 31 January 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 January 2024 |
DEPRECIATION |
At 31 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 January 2024 |
NET BOOK VALUE |
At 30 January 2024 |
At 30 January 2023 |
N L R PRECISION ENGINEERS LTD (REGISTERED NUMBER: 03890653) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 January 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.1.24 | 30.1.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.1.24 | 30.1.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year, sales totalling £55,474 (2023: £40,072) were made to Revert Alloys and Metals Ltd, a company with common shareholders. The balance due from Revert Alloys and Metals Ltd at the end of the year was 65,993 (2023: £28,094). |
During the year, the property was sold for £650,000 to ASJC Enterprises Ltd, a company under common control. This amount was due to NLR Precision Engineers Ltd at the year end date. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are Mr A C Skinner and Mr J M Cox. |