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Registered number: 04932181
JSA Precision Engineering Ltd
Financial Statements
For The Year Ended 31 March 2024
Gilby & Co Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04932181
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 90,000 90,000
Tangible Assets 5 115,700 145,091
205,700 235,091
CURRENT ASSETS
Stocks 6 64,560 64,250
Debtors 7 251,314 358,822
Cash at bank and in hand 14,412 34,183
330,286 457,255
Creditors: Amounts Falling Due Within One Year 8 (183,804 ) (233,190 )
NET CURRENT ASSETS (LIABILITIES) 146,482 224,065
TOTAL ASSETS LESS CURRENT LIABILITIES 352,182 459,156
Creditors: Amounts Falling Due After More Than One Year 9 (20,543 ) (31,122 )
NET ASSETS 331,639 428,034
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 331,637 428,032
SHAREHOLDERS' FUNDS 331,639 428,034
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joseph Anderson
Director
23rd January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JSA Precision Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04932181 . The registered office is Unit 3 Bradman House, Bradman, Road, Knowsley Industrial Park, Liverpool, L33 7UR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Provision of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 14 (2023: 14)
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 90,000
As at 31 March 2024 90,000
Net Book Value
As at 31 March 2024 90,000
As at 1 April 2023 90,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 612,806 27,345 17,191 22,339 679,681
Additions 8,317 - - 859 9,176
As at 31 March 2024 621,123 27,345 17,191 23,198 688,857
Depreciation
As at 1 April 2023 473,123 25,918 16,572 18,977 534,590
Provided during the period 37,000 357 155 1,055 38,567
As at 31 March 2024 510,123 26,275 16,727 20,032 573,157
Net Book Value
As at 31 March 2024 111,000 1,070 464 3,166 115,700
As at 1 April 2023 139,683 1,427 619 3,362 145,091
6. Stocks
2024 2023
£ £
Work in progress 64,560 64,250
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 136,345 244,141
Other debtors 114,969 114,681
251,314 358,822
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,062 49,942
Trade creditors 55,845 39,460
Bank loans and overdrafts 1,570 2,552
Other creditors 95,294 55,114
Taxation and social security 14,033 86,122
183,804 233,190
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,543 31,122
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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