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REGISTERED NUMBER: 02227822 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

PRECISION MOTION (COFIL) LIMITED

PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRECISION MOTION (COFIL) LIMITED

COMPANY INFORMATION
for the Year Ended 31ST DECEMBER 2024







DIRECTORS: Mr S A Smith
Mrs K L Smith



SECRETARY: Mrs K L Smith



REGISTERED OFFICE: 327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN



REGISTERED NUMBER: 02227822 (England and Wales)



ACCOUNTANTS: Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN



BANKERS: Barclays Bank Plc
38 Fishergate
Preston
Lancashire
PR1 2DD

PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)

BALANCE SHEET
31ST DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,417 18,140
Investments 5 327,767 315,348
411,184 333,488

CURRENT ASSETS
Stocks - 9,273
Debtors 6 9,267 2,024
Cash at bank 163,110 350,650
172,377 361,947
CREDITORS
Amounts falling due within one year 7 6,788 6,238
NET CURRENT ASSETS 165,589 355,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,773

689,197

PROVISIONS FOR LIABILITIES 8 1,127 1,134
NET ASSETS 575,646 688,063

CAPITAL AND RESERVES
Called up share capital 40,001 40,001
Retained earnings 535,645 648,062
575,646 688,063

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

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

PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)

BALANCE SHEET - continued
31ST DECEMBER 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 6th March 2025 and were signed on its behalf by:





Mr S A Smith - Director


PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Precision Motion (Cofil) 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.
Motor vehicles - 20% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments are initially recognised at their transaction price (including transaction costs) and subsequently at fair value. Any changes in fair value are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 82,722
Additions 94,929
Disposals (79,250 )
At 31st December 2024 98,401
DEPRECIATION
At 1st January 2024 64,582
Charge for year 13,032
Eliminated on disposal (62,630 )
At 31st December 2024 14,984
NET BOOK VALUE
At 31st December 2024 83,417
At 31st December 2023 18,140

5. FIXED ASSET INVESTMENTS

31/12/24 31/12/23
£    £   
Other investments not loans 1,819 802
Other loans 325,948 314,546
327,767 315,348

Additional information is as follows:

Investments (neither listed nor unlisted) were as follows:
31/12/24 31/12/23
£    £   
Investment bond 1,819 857
Revaluation - (55 )
1,819 802

PRECISION MOTION (COFIL) LIMITED (REGISTERED NUMBER: 02227822)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST DECEMBER 2024

5. FIXED ASSET INVESTMENTS - continued
Other
loans
£   
At 1st January 2024 314,546
New in year 11,402
At 31st December 2024 325,948

Fixed assets investments are initially recognised at fair value. Realised and unrealised gains and losses arising from changes in the fair value are included in the income statement in the period in which they arise.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 8,374 -
Other debtors 893 2,024
9,267 2,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 271 1,680
Taxation and social security 2,536 915
Other creditors 3,981 3,643
6,788 6,238

8. PROVISIONS FOR LIABILITIES
31/12/24 31/12/23
£    £   
Deferred tax 1,127 1,134

Deferred
tax
£   
Balance at 1st January 2024 1,134
Provided during year (7 )
Balance at 31st December 2024 1,127

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S A Smith.