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REGISTERED NUMBER: 02321981 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FHS PRECISION LIMITED

FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)






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


FHS PRECISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: E C Hunter Smart
C Olsen





REGISTERED OFFICE: 19 Newman Lane
ALTON
Hampshire
GU34 2QW





REGISTERED NUMBER: 02321981 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 3,640 63,481
3,640 63,481

CURRENT ASSETS
Inventories - 354,390
Debtors 6 594,200 521,351
Cash at bank and in hand 26,501 48,147
620,701 923,888
CREDITORS
Amounts falling due within one year 7 6,190 326,881
NET CURRENT ASSETS 614,511 597,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

618,151

660,488

PROVISIONS FOR LIABILITIES 910 15,870
NET ASSETS 617,241 644,618

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 612,241 639,618
617,241 644,618

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.

FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

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 and authorised for issue by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:




C Olsen - Director



E C Hunter Smart - Director


FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

FHS 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.

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 and on a going concern basis (see note 9).

Turnover
Revenue 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.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on cost

Stocks
Inventories 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 inventories to their present location and condition.

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 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.


FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
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.

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 10 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 300,000
AMORTISATION
At 1 September 2023
and 31 August 2024 300,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 27,529 55,829 53,075
Additions - 1,148 -
Disposals - (56,977 ) (53,075 )
At 31 August 2024 27,529 - -
DEPRECIATION
At 1 September 2023 27,529 25,973 45,592
Charge for year - 10,291 2,730
Eliminated on disposal - (36,264 ) (48,322 )
At 31 August 2024 27,529 - -
NET BOOK VALUE
At 31 August 2024 - - -
At 31 August 2023 - 29,856 7,483

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 24,483 101,466 262,382
Additions - - 1,148
Disposals (19,533 ) (101,466 ) (231,051 )
At 31 August 2024 4,950 - 32,479
DEPRECIATION
At 1 September 2023 17,017 82,790 198,901
Charge for year 1,867 11,200 26,088
Eliminated on disposal (17,574 ) (93,990 ) (196,150 )
At 31 August 2024 1,310 - 28,839
NET BOOK VALUE
At 31 August 2024 3,640 - 3,640
At 31 August 2023 7,466 18,676 63,481

FHS PRECISION LIMITED (REGISTERED NUMBER: 02321981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 2,450 388,763
Amounts owed by group undertakings 279,647 64,647
Other debtors 312,103 67,941
594,200 521,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 415 273,604
Taxation and social security - 17,019
Other creditors 5,775 36,258
6,190 326,881

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Silver Piper Limited.