Company registration number 03106340 (England and Wales)
Micro Precision Engineering Limited
Unaudited financial statements
For the year ended 31 March 2025
Micro Precision Engineering Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Micro Precision Engineering Limited
Statement of financial position
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
62,825
Current assets
Debtors
5
8,562
29,325
Cash at bank and in hand
18,565
60,124
27,127
89,449
Creditors: amounts falling due within one year
6
(9,498)
(106,306)
Net current assets/(liabilities)
17,629
(16,857)
Total assets less current liabilities
17,629
45,968
Creditors: amounts falling due after more than one year
7
-
(6,006)
Provisions for liabilities
-
0
(15,706)
Net assets
17,629
24,256
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
17,627
24,254
Total equity
17,629
24,256
Micro Precision Engineering Limited
Statement of financial position (continued)
As at 31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 September 2025 and are signed on its behalf by:
Miss R H Croxall
Director
Company registration number 03106340 (England and Wales)
Micro Precision Engineering Limited
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Micro Precision Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lyndon Farm, Holly Bush Lane, Rixton Warrington, Cheshire, England, WA3 6DZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the fair value of the engineering services provided, net of value-added tax, rebates and discounts.

Service turnover is recognised as those services are provided to customers.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
5% on cost
Plant and equipment
10% on reducing balance
Fixtures and fittings
10% on reducing balance
Computers
33.33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Micro Precision Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Micro Precision Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
1.10

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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 the income statement over the relevant period. The capital element of the future payments is treated as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.

Micro Precision Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
13,457
23,441
719
1,045
74,979
113,641
Disposals
(13,457)
(23,441)
(719)
(1,045)
(74,979)
(113,641)
At 31 March 2025
-
0
-
0
-
0
-
0
-
0
-
0
Depreciation and impairment
At 1 April 2024
3,567
14,140
389
1,045
31,675
50,816
Depreciation charged in the year
-
0
-
0
-
0
-
0
7,984
7,984
Eliminated in respect of disposals
(3,567)
(14,140)
(389)
(1,045)
(39,659)
(58,800)
At 31 March 2025
-
0
-
0
-
0
-
0
-
0
-
0
Carrying amount
At 31 March 2025
-
0
-
0
-
0
-
0
-
0
-
0
At 31 March 2024
9,890
9,301
330
-
0
43,304
62,825
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
27,861
Other debtors
8,562
1,464
8,562
29,325
Micro Precision Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
214
Taxation and social security
9,498
13,113
Other creditors
-
0
92,979
9,498
106,306
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
0
6,006
8
Secured debts

The following secured debts are included within creditors:
202 5 202 4

£ £

Hire purchase contracts ____- 8,909

The hire purchase contracts are secured on the assets concerned.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.200 No description of principal activity Mrs Y Croxall Miss R H Croxall Mrs Sarah Gleave 03106340 2024-04-01 2025-03-31 03106340 2025-03-31 03106340 2024-03-31 03106340 core:LeaseholdImprovements 2025-03-31 03106340 core:PlantMachinery 2025-03-31 03106340 core:FurnitureFittings 2025-03-31 03106340 core:ComputerEquipment 2025-03-31 03106340 core:MotorVehicles 2025-03-31 03106340 core:LeaseholdImprovements 2024-03-31 03106340 core:PlantMachinery 2024-03-31 03106340 core:FurnitureFittings 2024-03-31 03106340 core:ComputerEquipment 2024-03-31 03106340 core:MotorVehicles 2024-03-31 03106340 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 03106340 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03106340 core:ShareCapital 2025-03-31 03106340 core:ShareCapital 2024-03-31 03106340 core:RetainedEarningsAccumulatedLosses 2025-03-31 03106340 core:RetainedEarningsAccumulatedLosses 2024-03-31 03106340 bus:Director2 2024-04-01 2025-03-31 03106340 core:LeaseholdImprovements 2024-04-01 2025-03-31 03106340 core:PlantMachinery 2024-04-01 2025-03-31 03106340 core:FurnitureFittings 2024-04-01 2025-03-31 03106340 core:ComputerEquipment 2024-04-01 2025-03-31 03106340 core:MotorVehicles 2024-04-01 2025-03-31 03106340 2023-04-01 2024-03-31 03106340 core:LeaseholdImprovements 2024-03-31 03106340 core:PlantMachinery 2024-03-31 03106340 core:FurnitureFittings 2024-03-31 03106340 core:ComputerEquipment 2024-03-31 03106340 core:MotorVehicles 2024-03-31 03106340 2024-03-31 03106340 core:CurrentFinancialInstruments 2025-03-31 03106340 core:CurrentFinancialInstruments 2024-03-31 03106340 core:WithinOneYear 2025-03-31 03106340 core:WithinOneYear 2024-03-31 03106340 core:Non-currentFinancialInstruments 2025-03-31 03106340 core:Non-currentFinancialInstruments 2024-03-31 03106340 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03106340 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03106340 bus:FRS102 2024-04-01 2025-03-31 03106340 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 03106340 bus:Director1 2024-04-01 2025-03-31 03106340 bus:Director3 2024-04-01 2025-03-31 03106340 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP