MJB Precision Engineering Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03183899 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MJB PRECISION ENGINEERING LIMITED

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

417,332

507,962

Current assets

Stocks

12,237

16,020

Debtors

5

120,314

65,020

Cash at bank

45,655

65,593

178,206

146,633

Creditors

Amounts falling due within one year

6

157,706

74,720

Net current assets

20,500

71,913

Total assets less current liabilities

437,832

579,875

Provisions for liabilities

7

92,729

123,926

Net assets

345,103

455,949

Capital and reserves

Called up share capital

8

121

Retained earnings

344,982

455,828

Shareholders' funds

345,103

455,949

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 director acknowledges his 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2025 and were signed by:

Mr M Bevan - Director

1.	Statutory information

MJB Precision Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03183899. The registered office and business address is 9 North Dorset Business Park, Sturminster Newton, Dorset, DT10 2GA.

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 represents invoiced sales of goods, excluding Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leasehold

-

Over the term of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 6 ) .

4.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

Cost

At 1 April 2024

8,013

1,512,927

74,929

203,125

1,798,994

Additions

-

96,537

2,760

-

99,297

Disposals

-

(155,571

)

-

(55,740

)

(211,311

)

At 31 March 2025

8,013

1,453,893

77,689

147,385

1,686,980

Depreciation

At 1 April 2024

8,013

1,130,852

52,016

100,151

1,291,032

Charge for year

-

114,788

6,418

17,905

139,111

Eliminated on disposal

-

(136,109

)

-

(24,386

)

(160,495

)

At 31 March 2025

8,013

1,109,531

58,434

93,670

1,269,648

Net book value

At 31 March 2025

-

344,362

19,255

53,715

417,332

At 31 March 2024

-

382,075

22,913

102,974

507,962

5.

Debtors: amounts falling due within one year

2025

2024

£

Trade debtors

115,174

62,084

Prepayments and accrued income

5,140

2,936

120,314

65,020

6.

Creditors: amounts falling due within one year

2025

2024

£

Trade creditors

3,579

6,773

Amounts owed to participating interests

101,995

38,789

Tax

11,749

9,436

Social security and other taxes

2,800

2,453

VAT

20,032

7,584

Other creditors

391

508

Wages control

2,458

1,752

Directors' current accounts

32

164

Accruals and deferred income

14,670

7,261

157,706

74,720

7.	Provisions for liabilities

2025

2024

£

Deferred tax

92,729

123,926

Deferred

tax

£

Balance at 1 April 2024

123,926

Credit to Income statement during year

(31,197

)

Balance at 31 March 2025

92,729

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

40

"A" Ordinary

£1

40

1

"B"Ordinary

£1

1

10

"C" Ordinary

£1

10

"D" Ordinary

£1

10

60

"E" Ordinary shares

£1

60

121

9.	Ultimate controlling party

The ultimate controlling party is Mr M Bevan by virtue of his 100% ownership of the voting share capital.