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Registered Number: 11351288
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 July 2024

for

LWC PRECISION ENGINEERING LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 70,356    74,635 
70,356    74,635 
Current assets      
Stocks 10,135    3,570 
Debtors 182,286    109,696 
Cash at bank and in hand 783,565    585,590 
975,986    698,856 
Creditors: amount falling due within one year (385,576)   (298,646)
Net current assets 590,410    400,210 
 
Total assets less current liabilities 660,766    474,845 
Creditors: amount falling due after more than one year (8,884)   (18,247)
Net assets 651,882    456,598 
 

Capital and reserves
     
Called up share capital 4 200    200 
Profit and loss account 651,682    456,398 
Shareholders' funds 651,882    456,598 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 January 2025 and were signed on its behalf by:


-------------------------------
T Biddle
Director
-------------------------------
R Schwedhelm
Director
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M Whittington
Director
1
General Information
LWC PRECISION ENGINEERING LTD is a private company, limited by shares, registered in England and Wales, registration number 11351288, registration address Pi House, 40a London Road, Gloucester, Gloucestershire, GL1 3NU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Fixtures and Fittings 33% Straight Line
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 126,159    39,994    2,344    168,497 
Additions 46,000      2,324    48,324 
Disposals      
At 31 July 2024 172,159    39,994    4,668    216,821 
Depreciation
At 01 August 2023 65,134    26,661    2,067    93,862 
Charge for year 38,357    13,333    913    52,603 
On disposals      
At 31 July 2024 103,491    39,994    2,980    146,465 
Net book values
Closing balance as at 31 July 2024 68,668      1,688    70,356 
Opening balance as at 01 August 2023 61,025    13,333    277    74,635 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
75 Class A shares of £1.00 each 75    75 
75 Class B shares of £1.00 each 75    75 
50 Class C shares of £1.00 each 50    50 
200    200 

2