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Registration number: 01204208

Monad Precision Engineering Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2025

 

Monad Precision Engineering Limited

(Registration number: 01204208)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

610,743

420,864

Current assets

 

Stocks

5

321,050

184,340

Debtors

6

719,493

963,960

Cash at bank and in hand

 

2,918,905

2,497,859

 

3,959,448

3,646,159

Creditors: Amounts falling due within one year

7

(548,450)

(708,174)

Net current assets

 

3,410,998

2,937,985

Total assets less current liabilities

 

4,021,741

3,358,849

Creditors: Amounts falling due after more than one year

7

(132,779)

-

Provisions for liabilities

(187,686)

(148,104)

Net assets

 

3,701,276

3,210,745

Capital and reserves

 

Called up share capital

2,000

2,000

Capital redemption reserve

98,000

98,000

Profit and loss account

3,601,276

3,110,745

Shareholders' funds

 

3,701,276

3,210,745

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:

 

Monad Precision Engineering Limited

(Registration number: 01204208)
Statement of Financial Position as at 31 March 2025




.........................................

S J Reeder

Director

 

Monad Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

The principal place of business is: Unit D7, Sandown Industrial Park, Mill Road, Esher , Surrey , KT10 8BL.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Monad Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings fixtures and equipment

20% reducing balance

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Monad Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2024 - 22).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

50,309

33,080

1,030,771

15,385

1,129,545

Additions

77,271

827

233,010

17,430

328,538

Disposals

(50,309)

-

(40,750)

-

(91,059)

At 31 March 2025

77,271

33,907

1,223,031

32,815

1,367,024

Depreciation

At 1 April 2024

50,309

27,335

619,302

11,735

708,681

Charge for the year

7,727

787

124,374

5,271

138,159

Eliminated on disposal

(50,309)

-

(40,250)

-

(90,559)

At 31 March 2025

7,727

28,122

703,426

17,006

756,281

Carrying amount

At 31 March 2025

69,544

5,785

519,605

15,809

610,743

At 31 March 2024

-

5,745

411,469

3,650

420,864

 

Monad Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

2025
£

2024
£

Work in progress

321,050

184,340

6

Debtors

2025
£

2024
£

Trade debtors

673,792

961,210

Other debtors

26,250

-

Prepayments

19,451

2,750

719,493

963,960

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Bank loans and overdrafts

8

56,340

-

Trade creditors

 

200,892

328,079

Taxation and social security

 

259,737

369,325

Accruals and deferred income

 

27,821

6,366

Other creditors

 

3,660

4,404

 

548,450

708,174


Creditors include net obligations under hire purchase contracts which are secured of £nil (2023 - £23,867).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Loans and borrowings

8

132,779

-

 

Monad Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

132,779

-

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

56,340

-

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Later than one year and not later than five years

393,750

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £21,328 (2024 - £Nil).