Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true612024-01-01falseNo description of principal activity69trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01172026 2024-01-01 2024-12-31 01172026 2023-01-01 2023-12-31 01172026 2024-12-31 01172026 2023-12-31 01172026 c:Director3 2024-01-01 2024-12-31 01172026 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 01172026 d:Buildings d:ShortLeaseholdAssets 2024-12-31 01172026 d:Buildings d:ShortLeaseholdAssets 2023-12-31 01172026 d:PlantMachinery 2024-01-01 2024-12-31 01172026 d:PlantMachinery 2024-12-31 01172026 d:PlantMachinery 2023-12-31 01172026 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01172026 d:MotorVehicles 2024-01-01 2024-12-31 01172026 d:MotorVehicles 2024-12-31 01172026 d:MotorVehicles 2023-12-31 01172026 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01172026 d:OfficeEquipment 2024-01-01 2024-12-31 01172026 d:ComputerEquipment 2024-01-01 2024-12-31 01172026 d:ComputerEquipment 2024-12-31 01172026 d:ComputerEquipment 2023-12-31 01172026 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01172026 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01172026 d:ComputerSoftware 2024-12-31 01172026 d:ComputerSoftware 2023-12-31 01172026 d:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 01172026 d:CurrentFinancialInstruments 2024-12-31 01172026 d:CurrentFinancialInstruments 2023-12-31 01172026 d:Non-currentFinancialInstruments 2024-12-31 01172026 d:Non-currentFinancialInstruments 2023-12-31 01172026 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01172026 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01172026 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 01172026 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01172026 d:ShareCapital 2024-12-31 01172026 d:ShareCapital 2023-12-31 01172026 d:SharePremium 2024-12-31 01172026 d:SharePremium 2023-12-31 01172026 d:RetainedEarningsAccumulatedLosses 2024-12-31 01172026 d:RetainedEarningsAccumulatedLosses 2023-12-31 01172026 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01172026 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01172026 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 01172026 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01172026 d:OtherDeferredTax 2024-12-31 01172026 d:OtherDeferredTax 2023-12-31 01172026 c:OrdinaryShareClass1 2024-01-01 2024-12-31 01172026 c:OrdinaryShareClass1 2024-12-31 01172026 c:OrdinaryShareClass1 2023-12-31 01172026 c:FRS102 2024-01-01 2024-12-31 01172026 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01172026 c:FullAccounts 2024-01-01 2024-12-31 01172026 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01172026 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 01172026 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 01172026 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 01172026 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 01172026 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 01172026 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-12-31 01172026 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 01172026 d:LeasedAssetsHeldAsLessee 2024-12-31 01172026 d:LeasedAssetsHeldAsLessee 2023-12-31 01172026 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 01172026 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 01172026








PRECISION ALUMINIUM CASTING & ENGINEERING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
REGISTERED NUMBER: 01172026

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
9,387
-

Tangible assets
 5 
1,397,057
1,345,316

  
1,406,444
1,345,316

Current assets
  

Stocks
 6 
524,904
641,802

Debtors: amounts falling due after more than one year
 7 
183,475
59,549

Debtors: amounts falling due within one year
 7 
869,468
749,436

Cash at bank and in hand
 8 
2,578
1,548

  
1,580,425
1,452,335

Current liabilities
  

Creditors: amounts falling due within one year
 9 
(1,572,068)
(1,379,389)

Net current assets
  
 
 
8,357
 
 
72,946

Total assets less current liabilities
  
1,414,801
1,418,262

Creditors: amounts falling due after more than one year
 10 
(701,433)
(746,487)

Provisions for liabilities
  

Deferred tax
 12 
(237,069)
(178,883)

  
 
 
(237,069)
 
 
(178,883)

Net assets
  
476,299
492,892


Capital and reserves
  

Called up share capital 
 13 
5,556
5,556

Share premium account
  
82,743
82,743

Profit and loss account
  
388,000
404,593

  
476,299
492,892


Page 1

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
REGISTERED NUMBER: 01172026

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

K Davis
Director

Date: 1 August 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

1.


General information

Precision Aluminium Casting & Engineering Ltd is a private company limited by shares, registered in England and Wales. The company's registered office address is Bond Street, Southampton, England, SO14 5QA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
25%
reducing balance

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings
-
Over the remaining lease term
Plant and machinery
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance

Page 4

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

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

Page 5

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

2.Accounting policies (continued)

  
2.14

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.


3.


Employees

The average monthly number of employees, including directors, during the year was 69 (2023 - 61).


4.


Intangible assets




Computer software

£



Cost


Additions
12,516



At 31 December 2024

12,516



Amortisation


Charge for the year on owned assets
3,129



At 31 December 2024

3,129



Net book value



At 31 December 2024
9,387



At 31 December 2023
-



Page 6

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
442,591
2,937,846
28,647
176,471
3,585,555


Additions
62,953
167,922
-
6,787
237,662


Disposals
-
(4,318)
-
-
(4,318)



At 31 December 2024

505,544
3,101,450
28,647
183,258
3,818,899



Depreciation


At 1 January 2024
83,790
2,011,676
8,149
136,624
2,240,239


Charge for the year on owned assets
8,227
160,125
4,556
9,768
182,676


Disposals
-
(1,073)
-
-
(1,073)



At 31 December 2024

92,017
2,170,728
12,705
146,392
2,421,842



Net book value



At 31 December 2024
413,527
930,722
15,942
36,866
1,397,057



At 31 December 2023
358,801
926,170
20,498
39,847
1,345,316

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
218,875
185,804

218,875
185,804


6.


Stocks

2024
2023
£
£

Closing stocks
524,904
641,802


Page 7

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

7.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
183,475
59,549


2024
2023
£
£

Due within one year

Trade debtors
796,378
686,829

Other debtors
1,750
726

Prepayments and accrued income
71,340
61,881

869,468
749,436



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,578
1,548



9.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
16,600
16,600

Other loans
685,541
670,053

Trade creditors
272,433
263,993

Amounts owed to group undertakings
206,141
-

Other taxation and social security
129,179
198,807

Obligations under finance lease and hire purchase contracts
49,034
48,511

Other creditors
32,790
29,033

Accruals and deferred income
180,350
152,392

1,572,068
1,379,389


Included in the creditors above are unpaid pensions of £4,115 (2023 - £3,902).

Page 8

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

10.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,125
24,900

Net obligations under finance leases and hire purchase contracts
115,359
84,353

Amounts owed to group undertakings
577,949
637,234

701,433
746,487



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
49,034
48,511

Between 1-5 years
115,359
84,353

164,393
132,864

The hire purchase agreements are secured against the individual assets to which they relate.


12.


Deferred taxation




2024


£






At beginning of period
(178,883)


Charged to profit or loss
(58,186)



At end of year
(237,069)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(288,480)
(308,451)

Tax losses carried forward
51,243
129,278

Short term timing differences
168
290

(237,069)
(178,883)

Page 9

 
PRECISION ALUMINIUM CASTING & ENGINEERING LTD
 

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

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,111 (2023 - 11,111) Ordinary shares of £0.50 each
5,556
5,556



14.


Related party transactions

The directors have taken advange of the provisions of FRS 102 section 33.1A by not disclosing intercompany transactions and balances with other group companies.


15.


Controlling party and individual

The ultimate parent Company is Enhanced Engineering Group Limited.
In the opinion of the directors, Enhanced Engineering Group Limited is not controlled by any one person.


Page 10