Company registration number 02171235 (England and Wales)
Alton Precision Engineering Ltd
FINANCIAL STATEMENTS
for the year ended 31 December 2024
PAGES FOR FILING WITH REGISTRAR
Alton Precision Engineering Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Alton Precision Engineering Ltd
Statement Of Financial Position
as at 31 December 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
541,491
535,380
Current assets
Stocks
17,466
31,756
Debtors
1,067,625
891,432
Cash at bank and in hand
89,692
61,058
1,174,783
984,246
Creditors: amounts falling due within one year
(191,375)
(200,635)
Net current assets
983,408
783,611
Total assets less current liabilities
1,524,899
1,318,991
Provisions for liabilities
4
(135,373)
(133,845)
Net assets
1,389,526
1,185,146
Capital and reserves
Called up share capital
100
100
Capital redemption reserve
200
200
Profit and loss reserves
1,389,226
1,184,846
Total equity
1,389,526
1,185,146
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 March 2025
K G Brownlee
Director
Company Registration No. 02171235
Alton Precision Engineering Ltd
Notes to the Financial Statements
for the year ended 31 December 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, plant and equipment
10% on written down value - 33.3% straight line
Motor vehicles
25% on written down value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Research and development expenditure is charged to profits in the period in which it is incurred.
Alton Precision Engineering Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
18
3
Tangible fixed assets
Fixtures, plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
967,247
24,486
991,733
Additions
79,352
79,352
Disposals
(47,416)
(47,416)
At 31 December 2024
999,183
24,486
1,023,669
Depreciation and impairment
At 1 January 2024
432,843
23,510
456,353
Depreciation charged in the year
59,153
244
59,397
Eliminated in respect of disposals
(33,572)
(33,572)
At 31 December 2024
458,424
23,754
482,178
Carrying amount
At 31 December 2024
540,759
732
541,491
At 31 December 2023
534,404
976
535,380
4
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
135,373
133,845
Alton Precision Engineering Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2024
4
Deferred taxation
(continued)
- 4 -
2024
Movements in the year:
£
Liability at 1 January 2024
133,845
Charge to profit or loss
1,528
Liability at 31 December 2024
135,373
5
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
The senior statutory auditor was Charles R Moorby.
The auditor was B M Howarth Ltd.
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
35,000
56,000
7
Related party transactions
The company has taken advantage of the exemption from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by A & E Holdings Limited.
8
Parent company
In the opinion of the directors, the ultimate parent undertaking in the current financial year is TIB GmbH, a company registered in Germany.
The company's immediate parent is Quality Hydraulic Power Limited and the smallest group preparing consolidated financial statements is A & E Holdings Limited, both of which are registered in England and Wales. A & E Holdings Limited consolidated accounts are available from Companies House, Cardiff, CF4 3UZ.
9
Company information
Alton Precision Engineering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 27a Chemical Lane, Longbridge Hayes, Longport, Stoke on Trent, Staffordshire, ST6 4PB.