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REGISTERED NUMBER: 04075795 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ballpark Precision Engineering Limited

Ballpark Precision Engineering Limited (Registered number: 04075795)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ballpark Precision Engineering Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: Ian Parkington
Olivia Parkington



SECRETARY: Fred Parkington



REGISTERED OFFICE: 22-28 Willow Street
Accrington
Lancashire
BB5 1LP



REGISTERED NUMBER: 04075795 (England and Wales)



ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP



BANKERS: National Westminster Bank Plc
St James Street
Accrington
Lancashire
BB5 1NB

Ballpark Precision Engineering Limited (Registered number: 04075795)

Abridged Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116,606 135,259

CURRENT ASSETS
Stocks 4,200 2,120
Debtors 66,925 110,101
Cash at bank 90,782 149,169
161,907 261,390
CREDITORS
Amounts falling due within one year 46,822 79,391
NET CURRENT ASSETS 115,085 181,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,691

317,258

CREDITORS
Amounts falling due after more than one
year

(15,256

)

(32,268

)

PROVISIONS FOR LIABILITIES (22,155 ) (33,815 )
NET ASSETS 194,280 251,175

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 194,180 251,075
SHAREHOLDERS' FUNDS 194,280 251,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Ballpark Precision Engineering Limited (Registered number: 04075795)

Abridged Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 December 2024 and were signed on its behalf by:





Ian Parkington - Director


Ballpark Precision Engineering Limited (Registered number: 04075795)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Ballpark Precision 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.

The company provides engineering services to its customers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


Ballpark Precision Engineering Limited (Registered number: 04075795)

Notes to the Financial Statements - continued
for the year ended 31 August 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. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 484,237
Additions 2,583
Disposals (15,756 )
At 31 August 2024 471,064
DEPRECIATION
At 1 September 2023 348,978
Charge for year 20,862
Eliminated on disposal (15,382 )
At 31 August 2024 354,458
NET BOOK VALUE
At 31 August 2024 116,606
At 31 August 2023 135,259

Ballpark Precision Engineering Limited (Registered number: 04075795)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 September 2023
and 31 August 2024 37,900
DEPRECIATION
At 1 September 2023 14,624
Charge for year 3,491
At 31 August 2024 18,115
NET BOOK VALUE
At 31 August 2024 19,785
At 31 August 2023 23,276

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/8/24 31/8/23
£    £   
Net obligations repayable:
Within one year 6,776 6,413
Between one and five years - 6,776
6,776 13,189

Non-cancellable operating leases
31/8/24 31/8/23
£    £   
Within one year 1,260 1,260
Between one and five years 5,040 5,040
In more than five years 945 2,204
7,245 8,504

6. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Hire purchase contracts 6,776 13,189

Ballpark Precision Engineering Limited (Registered number: 04075795)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/24 31/8/23
value: £    £   
100 Ordinary £1 100 100

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31/8/24 31/8/23
£    £   
Ian Parkington and Ian Parkington
Balance outstanding at start of year (10,906 ) (668 )
Amounts advanced 78,025 125,738
Amounts repaid (82,000 ) (135,976 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,881 ) (10,906 )

Interest has been charged at 2.25% on the overdrawn loan account.