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REGISTERED NUMBER: 00849127 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

N.A.B. PRECISION TOOLING LTD

N.A.B. PRECISION TOOLING LTD (REGISTERED NUMBER: 00849127)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


N.A.B. PRECISION TOOLING LTD

COMPANY INFORMATION
For The Year Ended 31 May 2024







DIRECTORS: N A Blackwell
Mrs H A Blackwell





SECRETARY: Mrs H A Blackwell





REGISTERED OFFICE: Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 00849127 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

N.A.B. PRECISION TOOLING LTD (REGISTERED NUMBER: 00849127)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 352,576 396,986

CURRENT ASSETS
Stocks 75,500 51,500
Debtors 5 38,203 130,067
Cash at bank 32,869 6,923
146,572 188,490
CREDITORS
Amounts falling due within one year 6 683,336 610,150
NET CURRENT LIABILITIES (536,764 ) (421,660 )
TOTAL ASSETS LESS CURRENT LIABILITIES (184,188 ) (24,674 )

CAPITAL AND RESERVES
Called up share capital 8 7,500 7,500
Retained earnings (191,688 ) (32,174 )
SHAREHOLDERS' FUNDS (184,188 ) (24,674 )

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

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

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





N A Blackwell - Director


N.A.B. PRECISION TOOLING LTD (REGISTERED NUMBER: 00849127)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024


1. STATUTORY INFORMATION

N.A.B. Precision Tooling Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 9 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

N.A.B. PRECISION TOOLING LTD (REGISTERED NUMBER: 00849127)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 50,422 4,698,944 305,845 49,206 5,104,417
Additions - 958 910 - 1,868
At 31 May 2024 50,422 4,699,902 306,755 49,206 5,106,285
DEPRECIATION
At 1 June 2023 50,422 4,304,851 304,225 47,933 4,707,431
Charge for year - 40,401 479 5,398 46,278
At 31 May 2024 50,422 4,345,252 304,704 53,331 4,753,709
NET BOOK VALUE
At 31 May 2024 - 354,650 2,051 (4,125 ) 352,576
At 31 May 2023 - 394,093 1,620 1,273 396,986

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 69,000 21,595 90,595
DEPRECIATION
At 1 June 2023 27,310 20,699 48,009
Charge for year 5,462 5,304 10,766
At 31 May 2024 32,772 26,003 58,775
NET BOOK VALUE
At 31 May 2024 36,228 (4,408 ) 31,820
At 31 May 2023 41,690 896 42,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,203 130,067

N.A.B. PRECISION TOOLING LTD (REGISTERED NUMBER: 00849127)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 20,000
Hire purchase contracts - 8,668
Trade creditors 6,809 12,152
Invoice discounting 65,887 88,967
Corporation tax - 20
Social security and other taxes 46,842 25,280
VAT 178,151 143,529
Directors' current accounts 209,075 201,342
Accrued expenses 176,572 110,192
683,336 610,150

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 20,000
Hire purchase contracts - 8,668
- 28,668

The invoice discounting account is secured against trade debtors. Hire purchase agreements are secured against the assets to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7,500 Ordinary £1 7,500 7,500

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors operate a current account. As at 31 May 2024, there was a balance of £209,075 (2023: £201,342) owed to them. No interest is charged on balances outstanding.

10. GOING CONCERN

The financial statements have been prepared on a going concern basis although the balance sheet displayed a negative amount of at the balance sheet date. The directors are one of the largest creditors and confirm they will not repay their loan in preference to other creditors. The directors also confirm they will continue to provide financial assistance.