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Company registration number: 01652960







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 NOVEMBER 2024


CONTOUR FINE TOOLING LIMITED






































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CONTOUR FINE TOOLING LIMITED
REGISTERED NUMBER:01652960



STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

30 November
31 December
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,719
8,648

Tangible assets
 5 
294,314
183,460

  
299,033
192,108

Current assets
  

Stock and work in progress
  
324,112
377,294

Debtors: amounts falling due within one year
 6 
2,189,068
2,014,392

Cash at bank and in hand
  
139,773
92,998

  
2,652,953
2,484,684

Creditors: amounts falling due within one year
 7 
(707,574)
(315,619)

Net current assets
  
 
 
1,945,379
 
 
2,169,065

Total assets less current liabilities
  
2,244,412
2,361,173

Provisions for liabilities
  

Deferred tax
 9 
(73,707)
(53,220)

  
 
 
(73,707)
 
 
(53,220)

Net assets
  
2,170,705
2,307,953


Capital and reserves
  

Called up share capital 
  
440,100
440,100

Profit and loss account
  
1,730,605
1,867,853

  
2,170,705
2,307,953


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.




................................................
P Hofman
Director
Page 1

 


CONTOUR FINE TOOLING LIMITED
REGISTERED NUMBER:01652960


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.


General information

Contour Fine Tooling Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and principle place of business can be found on the Company Information page.
The company's financial year was changed within the year to 30th November to ensure coterminous financial years with other group entities, the 2024 period within these accounts are for 11 months.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is measured at the fair value of the consideration received or receivable and represents the amount
receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the
company and value added taxes.

  
2.4

Revenue recognition

The company recognises revenuewhen (a) the significant risks and rewards of ownershiphavebeen transferred
to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of
revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity.

Page 3

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are amortised on a 3 - 5 year straight line basis

Page 4

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
straight line
Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 20 (2023 - 22).

Page 5

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

4.


Intangible assets






Licenses

£



Cost


At 1 January 2024
15,943



At 30 November 2024

15,943



Amortisation


At 1 January 2024
7,295


Charge for the period on owned assets
3,929



At 30 November 2024

11,224



Net book value



At 30 November 2024
4,719



At 31 December 2023
8,648



Page 6

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets







Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
400,772
3,331,873
311,176
76,669
4,120,490


Additions
6,390
179,724
14,649
1,860
202,623



At 30 November 2024

407,162
3,511,597
325,825
78,529
4,323,113



Depreciation


At 1 January 2024
398,302
3,158,870
306,090
73,768
3,937,030


Charge for the period on owned assets
673
85,954
3,406
1,736
91,769



At 30 November 2024

398,975
3,244,824
309,496
75,504
4,028,799



Net book value



At 30 November 2024
8,187
266,773
16,329
3,025
294,314



At 31 December 2023
2,470
173,003
5,086
2,901
183,460


6.


Debtors

30 November
31 December
2024
2023
£
£


Trade debtors
106,441
169,199

Amounts owed by group undertakings
2,031,429
1,819,537

Other debtors
25,748
6,063

Prepayments and accrued income
25,450
19,593

2,189,068
2,014,392


Page 7

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

30 November
31 December
2024
2023
£
£

Bank overdrafts
-
26

Trade creditors
61,968
72,486

Amounts owed to group undertakings
546,678
47,731

Corporation tax
-
81,261

Other taxation and social security
19,638
66,720

Other creditors
5,591
10,728

Accruals and deferred income
73,699
36,667

707,574
315,619



8.


Secured debts

Security has been provided to the company bankers by way of a fixed and floating charge over all assets of the company.


9.


Deferred taxation






2024


£






At beginning of year
(53,220)


Charged to profit or loss
(20,487)



At end of year
(73,707)

The provision for deferred taxation is made up as follows:

30 November
31 December
2024
2023
£
£


Accelerated capital allowances
(73,707)
(53,220)

(73,707)
(53,220)

Page 8

 


CONTOUR FINE TOOLING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

10.


Controlling party

OSG Corporation, a company incorporated in Japan, is the smallest and largest group within which the subsidiary belongs and for which group accounts are prepared. These are available from OSG Corporation's registered office at 3-22 Honnogahara Toyokawa Aichi,Japan,442 8543.
OSG Corporation is the ultimate parent company. OSG Corporation is incorporated in Japan.
 


11.


Auditors' information

The auditors' report on the financial statements for the period ended 30 November 2024 was unqualified.

The audit report was signed on 4 March 2025 by James Fox ACA FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 9