| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2025 |
| for |
| C K Precision Engineering Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2025 |
| for |
| C K Precision Engineering Limited |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Balance Sheet |
| 30 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Inventories |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| 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. |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Balance Sheet - continued |
| 30 April 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | Statutory information |
| C K Precision Engineering Limited is a |
| Registered number: |
| Registered office: |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 3. | Accounting policies - continued |
| Tangible fixed assets |
| Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |
| Leasehold improvements - 10% on cost |
| Plant and machinery - 10% on cost and 25% on reducing balance |
| Motor vehicles - 33% on cost |
| Computer equipment - 25% on reducing balance |
| Inventories |
| Inventories have been valued at the lower of cost and net estimated selling price, less costs to sell. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 3. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
| 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. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 5. | Tangible fixed assets |
| Leasehold | Plant and | Motor | Computer |
| improvements | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| Depreciation |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| Net book value |
| At 30 April 2025 |
| At 30 April 2024 |
| 6. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Finance leases and hire purchase creditors of £29,855 (2024: £23,953) are secured on the assets concerned. |
| The bank has security by means of a fixed and floating charge. The floating charge covers all of the property or undertaking of the company. |
| C K Precision Engineering Limited (Registered number: 03928441) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 8. | Creditors: amounts falling due after more than one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Finance leases and hire purchase creditors of £12,478 (2024: £22,961) are secured on the assets concerned. |
| The bank has security by means of a fixed and floating charge. The floating charge covers all of the property or undertaking of the company. |
| 9. | Financial instruments |
| Operating lease commitments not included on the balance sheet amount to £21,868 (2024: £30,917). Amounts totalling £12,819 fall due for payment after more than one year. |
| 10. | Directors' advances, credits and guarantees |
| At the year end the directors owed the company £231,357 (2024: £226,266). Interest was charged on this loan at a commercial rate as prescribed by HMRC. |