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REGISTERED NUMBER: 05678372 (England and Wales)











Precision Metals And Plastics Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Precision Metals And Plastics Limited (Registered number: 05678372)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Precision Metals And Plastics Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D C Pearce
L E Roberts





SECRETARY: L E Roberts





REGISTERED OFFICE: Unit 7 Norton Works Lynn Lane
Shenstone
Lichfield
Staffordshire
WS14 0EA





REGISTERED NUMBER: 05678372 (England and Wales)





ACCOUNTANTS: Haines Watts
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Precision Metals And Plastics Limited (Registered number: 05678372)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349,218 376,621

CURRENT ASSETS
Stocks 80,105 80,105
Debtors 5 153,583 141,686
Cash at bank 32,357 70,750
266,045 292,541
CREDITORS
Amounts falling due within one year 6 177,605 199,671
NET CURRENT ASSETS 88,440 92,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,658

469,491

CREDITORS
Amounts falling due after more than one year 7 65,625 91,077
NET ASSETS 372,033 378,414

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 371,933 378,314
372,033 378,414

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Metals And Plastics Limited (Registered number: 05678372)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





L E Roberts - Director


Precision Metals And Plastics Limited (Registered number: 05678372)

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


1. STATUTORY INFORMATION

Precision Metals And Plastics 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.

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 Income Statement, 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.

Hire purchase and leasing commitments
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.

Precision Metals And Plastics Limited (Registered number: 05678372)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 27,275 1,001,869 1,029,144
Additions - 22,001 22,001
Disposals - (2,894 ) (2,894 )
At 30 June 2024 27,275 1,020,976 1,048,251
DEPRECIATION
At 1 July 2023 - 652,523 652,523
Charge for year - 46,510 46,510
At 30 June 2024 - 699,033 699,033
NET BOOK VALUE
At 30 June 2024 27,275 321,943 349,218
At 30 June 2023 27,275 349,346 376,621

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 153,583 141,686

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,174 29,167
Trade creditors 87,942 67,440
Taxation and social security 35,778 57,325
Other creditors 24,711 45,739
177,605 199,671

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 65,625 91,077