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Company registration number: 03465595
Alternative Precision Sheet Metal Limited
Unaudited filleted financial statements
31 December 2024
Alternative Precision Sheet Metal Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Alternative Precision Sheet Metal Limited
Directors and other information
Director Mr DSh Dumbarton
Company number 03465595
Registered office Units 8-10 Prydwen Road
Swansea West Industrial Park
Fforestfach
Swansea
SA5 4HN
Business address Units 8-10 Prydwen Road
Swansea West Industrial Park
Fforestfach
Swansea
SA5 4HN
Accountant Pearl Hargood
Hafan
Heol Y Mynydd
Penbre
Llanelli
SA16 0AJ
Alternative Precision Sheet Metal Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 653,216 409,837
_______ _______
653,216 409,837
Current assets
Stocks 65,863 64,405
Debtors 6 111,237 91,781
Cash at bank and in hand 375,721 235,888
_______ _______
552,821 392,074
Creditors: amounts falling due
within one year 7 ( 482,012) ( 240,364)
_______ _______
Net current assets 70,809 151,710
_______ _______
Total assets less current liabilities 724,025 561,547
Creditors: amounts falling due
after more than one year 8 ( 228,585) ( 194,744)
_______ _______
Net assets 495,440 366,803
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 495,340 366,703
_______ _______
Shareholders funds 495,440 366,803
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 September 2025 , and are signed on behalf of the board by:
Mr DSh Dumbarton
Director
Alternative Precision Sheet Metal Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 8-10 Prydwen Road, Swansea West Industrial Park, Fforestfach, Swansea, SA5 4HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied , stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
The company operates a defined contribution plan for the benefit of its emplyees. Contributions are expensed as they become payable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 672,601 16,885 13,995 703,481
Additions 447,962 2,018 - 449,980
Disposals ( 365,000) - ( 13,995) ( 378,995)
_______ _______ _______ _______
At 31 December 2024 755,563 18,903 - 774,466
_______ _______ _______ _______
Depreciation
At 1 January 2024 266,320 13,329 13,995 293,644
Charge for the year 61,643 2,000 - 63,643
Disposals ( 222,042) - ( 13,995) ( 236,037)
_______ _______ _______ _______
At 31 December 2024 105,921 15,329 - 121,250
_______ _______ _______ _______
Carrying amount
At 31 December 2024 649,642 3,574 - 653,216
_______ _______ _______ _______
At 31 December 2023 406,281 3,556 - 409,837
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 69,752 83,399
Other debtors 41,485 8,382
_______ _______
111,237 91,781
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 32,738 30,662
Social security and other taxes 66,364 60,831
Other creditors 372,910 138,871
_______ _______
482,012 240,364
_______ _______
The Company is in receipt of a government guarantee bounce back loan of £50,000. The loan is repayable from year 2 to 6 with interest charged from year 2 at 2.5%. The finance leases included in other creditors are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 9,882 19,879
Other creditors 218,703 174,865
_______ _______
228,585 194,744
_______ _______
The Company is in receipt of a government guarantee bounce back loan of £50,000. The loan is repayable from year 2 to 6 with interest charged from year 2 at 2.5%. The finance leases included in other creditors are secured on the assets concerned.