2023-04-012024-03-312024-03-31false13268217FARMOST PRECISION ENGINEERING LTD2025-03-1071121falseiso4217:GBPxbrli:pure132682172023-04-01132682172024-03-31132682172023-04-012024-03-31132682172022-04-01132682172023-03-31132682172022-04-012023-03-3113268217bus:SmallEntities2023-04-012024-03-3113268217bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3113268217bus:FullAccounts2023-04-012024-03-3113268217bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113268217core:WithinOneYear2024-03-3113268217core:AfterOneYear2024-03-3113268217core:WithinOneYear2023-03-3113268217core:AfterOneYear2023-03-3113268217core:ShareCapital2024-03-3113268217core:SharePremium2024-03-3113268217core:RevaluationReserve2024-03-3113268217core:OtherReservesSubtotal2024-03-3113268217core:RetainedEarningsAccumulatedLosses2024-03-3113268217core:ShareCapital2023-03-3113268217core:SharePremium2023-03-3113268217core:RevaluationReserve2023-03-3113268217core:OtherReservesSubtotal2023-03-3113268217core:RetainedEarningsAccumulatedLosses2023-03-3113268217core:LandBuildings2024-03-3113268217core:PlantMachinery2024-03-3113268217core:Vehicles2024-03-3113268217core:FurnitureFittings2024-03-3113268217core:OfficeEquipment2024-03-3113268217core:NetGoodwill2024-03-3113268217core:IntangibleAssetsOtherThanGoodwill2024-03-3113268217core:ListedExchangeTraded2024-03-3113268217core:UnlistedNon-exchangeTraded2024-03-3113268217core:LandBuildings2023-03-3113268217core:PlantMachinery2023-03-3113268217core:Vehicles2023-03-3113268217core:FurnitureFittings2023-03-3113268217core:OfficeEquipment2023-03-3113268217core:NetGoodwill2023-03-3113268217core:IntangibleAssetsOtherThanGoodwill2023-03-3113268217core:ListedExchangeTraded2023-03-3113268217core:UnlistedNon-exchangeTraded2023-03-3113268217core:LandBuildings2023-04-012024-03-3113268217core:PlantMachinery2023-04-012024-03-3113268217core:Vehicles2023-04-012024-03-3113268217core:FurnitureFittings2023-04-012024-03-3113268217core:OfficeEquipment2023-04-012024-03-3113268217core:NetGoodwill2023-04-012024-03-3113268217core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113268217core:ListedExchangeTraded2023-04-012024-03-3113268217core:UnlistedNon-exchangeTraded2023-04-012024-03-3113268217core:MoreThanFiveYears2023-04-012024-03-3113268217core:Non-currentFinancialInstruments2024-03-3113268217core:Non-currentFinancialInstruments2023-03-3113268217dpl:CostSales2023-04-012024-03-3113268217dpl:DistributionCosts2023-04-012024-03-3113268217core:LandBuildings2023-04-012024-03-3113268217core:PlantMachinery2023-04-012024-03-3113268217core:Vehicles2023-04-012024-03-3113268217core:FurnitureFittings2023-04-012024-03-3113268217core:OfficeEquipment2023-04-012024-03-3113268217dpl:AdministrativeExpenses2023-04-012024-03-3113268217core:NetGoodwill2023-04-012024-03-3113268217core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113268217dpl:GroupUndertakings2023-04-012024-03-3113268217dpl:ParticipatingInterests2023-04-012024-03-3113268217dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3113268217core:ListedExchangeTraded2023-04-012024-03-3113268217dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3113268217core:UnlistedNon-exchangeTraded2023-04-012024-03-3113268217dpl:CostSales2022-04-012023-03-3113268217dpl:DistributionCosts2022-04-012023-03-3113268217core:LandBuildings2022-04-012023-03-3113268217core:PlantMachinery2022-04-012023-03-3113268217core:Vehicles2022-04-012023-03-3113268217core:FurnitureFittings2022-04-012023-03-3113268217core:OfficeEquipment2022-04-012023-03-3113268217dpl:AdministrativeExpenses2022-04-012023-03-3113268217core:NetGoodwill2022-04-012023-03-3113268217core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3113268217dpl:GroupUndertakings2022-04-012023-03-3113268217dpl:ParticipatingInterests2022-04-012023-03-3113268217dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3113268217core:ListedExchangeTraded2022-04-012023-03-3113268217dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3113268217core:UnlistedNon-exchangeTraded2022-04-012023-03-3113268217core:NetGoodwill2024-03-3113268217core:IntangibleAssetsOtherThanGoodwill2024-03-3113268217core:LandBuildings2024-03-3113268217core:PlantMachinery2024-03-3113268217core:Vehicles2024-03-3113268217core:FurnitureFittings2024-03-3113268217core:OfficeEquipment2024-03-3113268217core:AfterOneYear2024-03-3113268217core:WithinOneYear2024-03-3113268217core:ListedExchangeTraded2024-03-3113268217core:UnlistedNon-exchangeTraded2024-03-3113268217core:ShareCapital2024-03-3113268217core:SharePremium2024-03-3113268217core:RevaluationReserve2024-03-3113268217core:OtherReservesSubtotal2024-03-3113268217core:RetainedEarningsAccumulatedLosses2024-03-3113268217core:NetGoodwill2023-03-3113268217core:IntangibleAssetsOtherThanGoodwill2023-03-3113268217core:LandBuildings2023-03-3113268217core:PlantMachinery2023-03-3113268217core:Vehicles2023-03-3113268217core:FurnitureFittings2023-03-3113268217core:OfficeEquipment2023-03-3113268217core:AfterOneYear2023-03-3113268217core:WithinOneYear2023-03-3113268217core:ListedExchangeTraded2023-03-3113268217core:UnlistedNon-exchangeTraded2023-03-3113268217core:ShareCapital2023-03-3113268217core:SharePremium2023-03-3113268217core:RevaluationReserve2023-03-3113268217core:OtherReservesSubtotal2023-03-3113268217core:RetainedEarningsAccumulatedLosses2023-03-3113268217core:NetGoodwill2022-04-0113268217core:IntangibleAssetsOtherThanGoodwill2022-04-0113268217core:LandBuildings2022-04-0113268217core:PlantMachinery2022-04-0113268217core:Vehicles2022-04-0113268217core:FurnitureFittings2022-04-0113268217core:OfficeEquipment2022-04-0113268217core:AfterOneYear2022-04-0113268217core:WithinOneYear2022-04-0113268217core:ListedExchangeTraded2022-04-0113268217core:UnlistedNon-exchangeTraded2022-04-0113268217core:ShareCapital2022-04-0113268217core:SharePremium2022-04-0113268217core:RevaluationReserve2022-04-0113268217core:OtherReservesSubtotal2022-04-0113268217core:RetainedEarningsAccumulatedLosses2022-04-0113268217core:AfterOneYear2023-04-012024-03-3113268217core:WithinOneYear2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:CostValuation2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3113268217core:Non-currentFinancialInstrumentscore:CostValuation2024-03-3113268217core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-03-3113268217core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3113268217core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3113268217core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3113268217bus:Director12023-04-012024-03-3113268217bus:Director22023-04-012024-03-3113268217core:FurnitureFittingsToolsEquipment2023-03-3113268217core:FurnitureFittingsToolsEquipment2024-03-3113268217core:FurnitureFittingsToolsEquipment2023-04-012024-03-31

FARMOST PRECISION ENGINEERING LTD

Registered Number
13268217
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FARMOST PRECISION ENGINEERING LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FROST, James Anthony
ORAM, Karl Brian

Registered Address

Unit F9
Blackpole East
Worcester
WR3 8SG

Registered Number

13268217 (England and Wales)
FARMOST PRECISION ENGINEERING LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3198,717211,472
198,717211,472
Current assets
Debtors22,20729,303
Cash at bank and on hand21,5759,796
43,78239,099
Creditors amounts falling due within one year4(86,373)(107,850)
Net current assets (liabilities)(42,591)(68,751)
Total assets less current liabilities156,126142,721
Creditors amounts falling due after one year5(84,584)(96,448)
Provisions for liabilities6(36,394)(27,865)
Net assets35,14818,408
Capital and reserves
Called up share capital100100
Profit and loss account35,04818,308
Shareholders' funds35,14818,408
The financial statements were approved and authorised for issue by the Board of Directors on 10 March 2025, and are signed on its behalf by:
FROST, James Anthony
Director
ORAM, Karl Brian
Director

Registered Company No. 13268217
FARMOST PRECISION ENGINEERING LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-30
Fixtures and fittings15-
Office Equipment-6
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 23198,3803,60630,215232,201
At 31 March 24198,3803,60630,215232,201
Depreciation and impairment
At 01 April 2311,7664638,50020,729
Charge for year7,2474725,03612,755
At 31 March 2419,01393513,53633,484
Net book value
At 31 March 24179,3672,67116,679198,717
At 31 March 23186,6143,14321,715211,472
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,84336,324
Bank borrowings and overdrafts53,59734,793
Taxation and social security6,5201,467
Other creditors16,91333,686
Accrued liabilities and deferred income1,5001,580
Total86,373107,850
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts84,58496,448
Total84,58496,448
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)36,39427,865
Total36,39427,865