REGISTERED NUMBER: 07027388 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRECISION BALL & GAUGE CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Delattre

S C Burchett

REGISTERED OFFICE:

Unit 10-11

Timberlane Trading Estate

Decoy Road

Worthing

West Sussex

BN14 8ND

REGISTERED NUMBER:

07027388 (England and Wales)

ACCOUNTANTS:

John Williams & Co Limited

Chartered Certified Accountants

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

14,172

10,866

14,172

10,866

CURRENT ASSETS

Stocks

6

210,274

148,670

Debtors

7

211,667

234,050

Cash at bank and in hand

31,641

27,184

453,582

409,904

CREDITORS

Amounts falling due within one year

8

204,285

221,683

NET CURRENT ASSETS

249,297

188,221

TOTAL ASSETS LESS CURRENT LIABILITIES

263,469

199,087

CREDITORS

Amounts falling due after more than one year

9

(9,757

)

(20,552

)

PROVISIONS FOR LIABILITIES

12

(3,543

)

(2,065

)

NET ASSETS

250,169

176,470

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

249,169

175,470

SHAREHOLDERS' FUNDS

250,169

176,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 22 July 2025 and were signed on its behalf by:

S C Burchett - Director

1.	STATUTORY INFORMATION

Precision Ball & Gauge Co 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 10 years.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% 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

All financial instruments have been measured at fair value through the profit and loss.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

103,000

AMORTISATION

At 1 January 2024

and 31 December 2024

103,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

36,564

64,713

779

102,056

Additions

8,030

-

-

8,030

At 31 December 2024

44,594

64,713

779

110,086

DEPRECIATION

At 1 January 2024

32,441

58,733

16

91,190

Charge for year

3,038

1,495

191

4,724

At 31 December 2024

35,479

60,228

207

95,914

NET BOOK VALUE

At 31 December 2024

9,115

4,485

572

14,172

At 31 December 2023

4,123

5,980

763

10,866

6.

STOCKS

2024

2023

£

£

Stocks and WIP

210,274

148,670

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

150,342

114,311

Other debtors

35,275

30,547

VAT

3,552

16,797

Prepayments and accrued income

22,498

72,395

211,667

234,050

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

16,925

20,009

Hire purchase contracts (see note 10)

3,259

-

Trade creditors

119,369

118,963

Tax

6,447

17,164

Social security and other taxes

11,360

14,220

Other creditors

6,828

6,767

Net wages

3,141

3,604

Directors' current accounts

36,956

40,956

204,285

221,683

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

4,987

16,101

Bank loans - 2-5 years

-

4,451

Hire purchase contracts (see note 10)

4,770

-

9,757

20,552

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

3,259

-

Between one and five years

4,770

-

8,029

-

Non-cancellable

operating leases

2024

2023

£

£

Within one year

80,400

80,400

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

21,912

40,561

Hire purchase contracts

8,029

-

29,941

40,561

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

3,543

2,065

Deferred

tax

£

Balance at 1 January 2024

2,065

Accelerated capital allowances

1,478

Balance at 31 December 2024

3,543

13.	ULTIMATE CONTROLLING PARTY

The company was under the control of its directors during the financial year. Since the balance sheet date the control of the company has changed to Precision Ball Group SA.