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REGISTERED NUMBER: 02919552 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2025

for

Quality Precision Engineering Limited

Quality Precision Engineering Limited (Registered number: 02919552)

Contents of the Financial Statements
for the Year Ended 30 April 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quality Precision Engineering Limited

Company Information
for the Year Ended 30 April 2025







DIRECTORS: Mr N R Barnard
Mr B C Wilson
Mr M Zisimos





SECRETARY: Mr B C Wilson





REGISTERED OFFICE: 1 Coldhams Road
Cambridge
CB1 3EW





REGISTERED NUMBER: 02919552 (England and Wales)

Quality Precision Engineering Limited (Registered number: 02919552)

Balance Sheet
30 April 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,258 9,664

CURRENT ASSETS
Stocks 12,768 12,768
Debtors 6 22,229 54,760
Cash at bank 31,416 24,351
66,413 91,879
CREDITORS
Amounts falling due within one year 7 90,806 102,806
NET CURRENT LIABILITIES (24,393 ) (10,927 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,135

)

(1,263

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 19,000 19,000
Retained earnings (36,135 ) (21,263 )
(16,135 ) (1,263 )

Quality Precision Engineering Limited (Registered number: 02919552)

Balance Sheet - continued
30 April 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:





Mr B C Wilson - Director


Quality Precision Engineering Limited (Registered number: 02919552)

Notes to the Financial Statements
for the Year Ended 30 April 2025


1. STATUTORY INFORMATION

Quality Precision Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.


Quality Precision Engineering Limited (Registered number: 02919552)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2025


3. 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.

Going concern
The Company incurred a loss for the year and as at the year end has, as disclosed on the balance sheet, net liabilities. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2024
and 30 April 2025 179,812
DEPRECIATION
At 1 May 2024 170,148
Charge for year 1,406
At 30 April 2025 171,554
NET BOOK VALUE
At 30 April 2025 8,258
At 30 April 2024 9,664

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 22,229 54,760

Quality Precision Engineering Limited (Registered number: 02919552)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2025


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 88,690 93,600
Taxation and social security 1,772 9,206
Other creditors 344 -
90,806 102,806