Registered number
06841245
Lucas Precision Engineering Limited
Filleted Accounts
31 March 2025
Lucas Precision Engineering Limited
Registered number: 06841245
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 103,086 114,056
Current assets
Stocks 1,500 13,168
Debtors 4 - 14,913
Cash at bank and in hand 23,591 13,025
25,091 41,106
Creditors: amounts falling due within one year 5 (51,746) (57,001)
Net current liabilities (26,655) (15,895)
Total assets less current liabilities 76,431 98,161
Creditors: amounts falling due after more than one year 6 (4,875) (34,125)
Net assets 71,556 64,036
Capital and reserves
Called up share capital 2 2
Profit and loss account 71,554 64,034
Shareholders' funds 71,556 64,036
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Lucas
Director
Approved by the board on 24 May 2025
Lucas Precision Engineering Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 526,659 11,646 538,305
Additions 23,396 - 23,396
At 31 March 2025 550,055 11,646 561,701
Depreciation
At 1 April 2024 414,893 9,356 424,249
Charge for the year 33,791 575 34,366
At 31 March 2025 448,684 9,931 458,615
Net book value
At 31 March 2025 101,371 1,715 103,086
At 31 March 2024 111,766 2,290 114,056
4 Debtors 2025 2024
£ £
Trade debtors - 14,913
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 29,250 29,250
Trade creditors 13,385 15,347
Taxation and social security costs 8,133 9,564
Other creditors 978 2,840
51,746 57,001
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 4,875 34,125
7 Other information
Lucas Precision Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
88 Bath Road
Old Town
Swindon
Wiltshire
SN1 4AY
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