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REGISTERED NUMBER: 05742131 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Balance Sheet 1

Notes to the Financial Statements 3


HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 443,742 468,619
Investment property 6 320,954 303,744
764,696 772,363

CURRENT ASSETS
Stocks 182,909 155,357
Debtors 7 76,495 142,920
Cash at bank and in hand 702,196 605,692
961,600 903,969
CREDITORS
Amounts falling due within one year 8 456,340 440,141
NET CURRENT ASSETS 505,260 463,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,269,956

1,236,191

CREDITORS
Amounts falling due after more than one
year

9

(5,934

)

(15,222

)

PROVISIONS FOR LIABILITIES 11 (83,093 ) (85,553 )
NET ASSETS 1,180,929 1,135,416

CAPITAL AND RESERVES
Called up share capital 12 837 837
Capital redemption reserve 13 163 163
Retained earnings 13 1,179,929 1,134,416
SHAREHOLDERS' FUNDS 1,180,929 1,135,416

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

BALANCE SHEET - continued
31 MARCH 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2025 and were signed on its behalf by:




Mr D R Rawlins - Director Mrs E M Rawlins - Director




Mr N Tamlin - Director Mrs S L Tamlin - Director


HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Hele Bay Precision Engineering Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05742131

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Amortisation
Amortisation is calculated so as to write off the cost of an asset over the useful economic life of
that asset as follows:

Goodwill - fully amortised

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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
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.

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 21 (2024 - 18 ) .

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 35,000
AMORTISATION
At 1 April 2024
and 31 March 2025 35,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
land machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 111,371 1,215,657 51,810 47,627 1,426,465
Additions - - 39,593 1,662 41,255
Disposals - - (31,689 ) - (31,689 )
At 31 March 2025 111,371 1,215,657 59,714 49,289 1,436,031
DEPRECIATION
At 1 April 2024 - 897,027 23,210 37,609 957,846
Charge for year - 47,371 9,225 1,506 58,102
Eliminated on disposal - - (23,659 ) - (23,659 )
At 31 March 2025 - 944,398 8,776 39,115 992,289
NET BOOK VALUE
At 31 March 2025 111,371 271,259 50,938 10,174 443,742
At 31 March 2024 111,371 318,630 28,600 10,018 468,619

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2024
and 31 March 2025 51,600
DEPRECIATION
At 1 April 2024 17,783
Charge for year 5,072
At 31 March 2025 22,855
NET BOOK VALUE
At 31 March 2025 28,745
At 31 March 2024 33,817

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 303,744
Additions 17,210
At 31 March 2025 320,954
NET BOOK VALUE
At 31 March 2025 320,954
At 31 March 2024 303,744

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 56,142 120,137
Other debtors 20,353 22,783
76,495 142,920

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts 9,288 9,288
Trade creditors 222,931 204,907
Taxation and social security 214,185 216,122
Other creditors 9,936 9,824
456,340 440,141

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Hire purchase contracts 5,934 15,222

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 15,222 24,510

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 83,093 85,553

Deferred
tax
£   
Balance at 1 April 2024 85,553
Credit to Profit and loss account during year (2,460 )
Balance at 31 March 2025 83,093

HELE BAY PRECISION ENGINEERING COMPANY
LIMITED (REGISTERED NUMBER: 05742131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
511 Ordinary A £1 511 511
489 Ordinary B £1 326 326
837 837

13. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2024 1,134,416 163 1,134,579
Profit for the year 399,646 399,646
Dividends (354,133 ) (354,133 )
At 31 March 2025 1,179,929 163 1,180,092

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D and Mrs E Rawlins.