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REGISTERED NUMBER: 13617211 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Poulton Precision (2021) Limited

Poulton Precision (2021) Limited (Registered number: 13617211)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Poulton Precision (2021) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Miss S K Latimer
Mr J L Middleton





REGISTERED OFFICE: Unit 7 Kilbane Street
Fleetwood
Lancashire
FY7 7PF





REGISTERED NUMBER: 13617211 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Poulton Precision (2021) Limited (Registered number: 13617211)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,820 102,466

CURRENT ASSETS
Stocks 22,800 36,180
Debtors 5 88,730 49,603
Cash at bank 12,143 22,203
123,673 107,986
CREDITORS
Amounts falling due within one year 6 122,439 107,548
NET CURRENT ASSETS 1,234 438
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,054

102,904

CREDITORS
Amounts falling due after more than one
year

7

(9,703

)

(26,336

)

PROVISIONS FOR LIABILITIES (23,205 ) (19,469 )
NET ASSETS 61,146 57,099

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 61,046 56,999
61,146 57,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Poulton Precision (2021) Limited (Registered number: 13617211)

Statement of Financial Position - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





Miss S K Latimer - Director


Poulton Precision (2021) Limited (Registered number: 13617211)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Poulton Precision (2021) 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.

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.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Poulton Precision (2021) Limited (Registered number: 13617211)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

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.

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 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 111,339 5,000 3,227 119,566
Additions 3,748 - 267 4,015
At 30 September 2024 115,087 5,000 3,494 123,581
DEPRECIATION
At 1 October 2023 13,910 1,852 1,338 17,100
Charge for year 11,508 1,000 1,153 13,661
At 30 September 2024 25,418 2,852 2,491 30,761
NET BOOK VALUE
At 30 September 2024 89,669 2,148 1,003 92,820
At 30 September 2023 97,429 3,148 1,889 102,466

Poulton Precision (2021) Limited (Registered number: 13617211)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 59,900
DEPRECIATION
Charge for year 5,990
At 30 September 2024 5,990
NET BOOK VALUE
At 30 September 2024 53,910
At 30 September 2023 59,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 88,110 48,233
Other debtors 620 1,370
88,730 49,603

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 8) 16,633 16,633
Trade creditors 32,774 7,588
Taxation and social security 40,382 28,166
Other creditors 32,650 55,161
122,439 107,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 8) 9,703 26,336

Poulton Precision (2021) Limited (Registered number: 13617211)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 16,633 16,633
Between one and five years 9,703 26,336
26,336 42,969

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 12,000 12,000
Between one and five years 13,000 25,000
25,000 37,000