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REGISTERED NUMBER: 02365897 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

MICROTECH PRECISION LIMITED

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICROTECH PRECISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: D I Evans
B L Evans



REGISTERED OFFICE: Bersham Enterprise Centre
Plas Grono Road
Rhostyllen
Wrexham
LL14 4EG



REGISTERED NUMBER: 02365897 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: HSBC Bank plc
High Street
Ruabon
Wrexham
LL14 6AA

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

BALANCE SHEET
30TH APRIL 2024

30.4.24 30.4.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 123,395 86,259

CURRENT ASSETS
Stocks 5 40,000 39,683
Debtors 6 333,279 320,731
Cash at bank 409,087 760,699
782,366 1,121,113
CREDITORS
Amounts falling due within one year 7 103,111 211,523
NET CURRENT ASSETS 679,255 909,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

802,650

995,849

PROVISIONS FOR LIABILITIES 8 - 32,758
NET ASSETS 802,650 963,091

CAPITAL AND RESERVES
Called up share capital 9 90 90
Retained earnings 802,560 963,001
SHAREHOLDERS' FUNDS 802,650 963,091

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

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

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

BALANCE SHEET - continued
30TH APRIL 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 11th February 2025 and were signed on its behalf by:





D I Evans - Director


MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Microtech Precision 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 has arisen wholly within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 12.5% on cost
Fixtures, fittings & equipment - 25% on cost
Motor vehicles - 25% 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 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.

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

2. ACCOUNTING POLICIES - continued

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 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Short Plant and fittings
leasehold machinery & equipment
£    £    £   
COST
At 1st May 2023 100,790 691,149 83,331
Additions 75,884 - -
At 30th April 2024 176,674 691,149 83,331
DEPRECIATION
At 1st May 2023 100,790 622,064 83,225
Charge for year 12,521 22,725 58
At 30th April 2024 113,311 644,789 83,283
NET BOOK VALUE
At 30th April 2024 63,363 46,360 48
At 30th April 2023 - 69,085 106

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st May 2023 25,558 41,345 942,173
Additions - 4,980 80,864
At 30th April 2024 25,558 46,325 1,023,037
DEPRECIATION
At 1st May 2023 21,460 28,375 855,914
Charge for year 4,098 4,326 43,728
At 30th April 2024 25,558 32,701 899,642
NET BOOK VALUE
At 30th April 2024 - 13,624 123,395
At 30th April 2023 4,098 12,970 86,259

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 15,000 15,000
Work-in-progress 25,000 24,683
40,000 39,683

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 313,050 286,521
Directors' current accounts 2,487 29,496
Deferred tax asset 13,348 -
Prepayments 4,394 4,714
333,279 320,731

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 51,937 85,402
Tax - 78,578
Social security and other taxes 5,915 7,861
VAT 32,316 30,000
Other creditors 3,486 1,302
Directors' current accounts 752 -
Accrued expenses 8,705 8,380
103,111 211,523

8. PROVISIONS FOR LIABILITIES
30.4.23
£   
Deferred tax
Accelerated capital allowances 32,758

Deferred
tax
£   
Balance at 1st May 2023 32,758
Movement in year due to: -
changes in tax rates (16,379 )
changes in tax allowances (5,801 )
changes in tax losses (23,926 )
Balance at 30th April 2024 (13,348 )

MICROTECH PRECISION LIMITED (REGISTERED NUMBER: 02365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
90 Ordinary £1 90 90

10. CAPITAL COMMITMENTS
30.4.24 30.4.23
£    £   
Contracted but not provided for in the
financial statements - -

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th April 2024 and 30th April 2023:

30.4.24 30.4.23
£    £   
D I Evans
Balance outstanding at start of year 17,226 12,800
Amounts advanced 16,154 19,926
Amounts repaid (33,380 ) (15,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,226

B L Evans
Balance outstanding at start of year 12,270 15,000
Amounts advanced 1,902 270
Amounts repaid (11,685 ) (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,487 12,270

Interest is charged on the director loans at the official rate.

12. ULTIMATE CONTROLLING PARTY

The controlling party is D I Evans.