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REGISTERED NUMBER: 00696133 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ultra-Precision Products Limited

Ultra-Precision Products Limited (Registered number: 00696133)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ultra-Precision Products Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr P Hazlewood
Mr S G Quick
Mrs M E Quick
Mr G J Quick
Mr I D Ross





SECRETARY: Mrs M E Quick





REGISTERED OFFICE: Homefield Road
Haverhill
Suffolk
CB9 8QP





REGISTERED NUMBER: 00696133 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Ultra-Precision Products Limited (Registered number: 00696133)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,369,706 4,727,483
4,369,706 4,727,483

CURRENT ASSETS
Stocks 1,323,041 1,396,887
Debtors 6 730,380 837,358
Cash at bank and in hand 9,271 43,389
2,062,692 2,277,634
CREDITORS
Amounts falling due within one year 7 1,893,703 2,078,620
NET CURRENT ASSETS 168,989 199,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,538,695

4,926,497

CREDITORS
Amounts falling due after more than one
year

8

(884,968

)

(1,581,710

)

PROVISIONS FOR LIABILITIES 9 (1,063,000 ) (944,444 )
NET ASSETS 2,590,727 2,400,343

CAPITAL AND RESERVES
Called up share capital 10 1,003 1,003
Revaluation reserve 11 189,036 189,036
Retained earnings 2,400,688 2,210,304
SHAREHOLDERS' FUNDS 2,590,727 2,400,343

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

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

Ultra-Precision Products Limited (Registered number: 00696133)

Balance Sheet - continued
31 August 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 1 May 2025 and were signed on its behalf by:





Mr G J Quick - Director


Ultra-Precision Products Limited (Registered number: 00696133)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Ultra-Precision Products 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% 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 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.

Ultra-Precision Products Limited (Registered number: 00696133)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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 38 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 September 2023
and 31 August 2024 361,527
AMORTISATION
At 1 September 2023
and 31 August 2024 361,527
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 September 2023 7,979,388
Additions 34,225
Disposals (162,017 )
At 31 August 2024 7,851,596
DEPRECIATION
At 1 September 2023 3,251,905
Charge for year 229,985
At 31 August 2024 3,481,890
NET BOOK VALUE
At 31 August 2024 4,369,706
At 31 August 2023 4,727,483

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 626,928 709,702
Other debtors 103,452 127,656
730,380 837,358

Ultra-Precision Products Limited (Registered number: 00696133)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 484,349 275,185
Hire purchase contracts 612,059 930,521
Trade creditors 564,966 710,170
Taxation and social security 144,274 68,853
Other creditors 88,055 93,891
1,893,703 2,078,620

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 598,669 1,272,775
Other creditors 286,299 308,935
884,968 1,581,710

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 1,063,000 944,444

Deferred
tax
£   
Balance at 1 September 2023 944,444
Accelerated capital allowances 118,556
Balance at 31 August 2024 1,063,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000
3 Ordinary A, B and C Shares £1 3 3
1,003 1,003

11. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 189,036