Carneil Precision Engineering Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05311924

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		70,841		37,180

			70,841		37,180
CURRENT ASSETS
Stocks	5	1,000		1,000
Debtors	6	32,348		37,866
Cash at bank and in hand		3		15,202

		33,351		54,068
Creditors: Amounts Falling Due Within One Year	7	(43,167 )		(58,655 )

NET CURRENT ASSETS (LIABILITIES)			(9,816 )		(4,587 )

TOTAL ASSETS LESS CURRENT LIABILITIES			61,025		32,593

Creditors: Amounts Falling Due After More Than One Year	8		(47,174 )		(26,001 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(13,460 )		(6,325 )

NET ASSETS			391		267

CAPITAL AND RESERVES
Called up share capital	10		3		3
Profit and Loss Account			388		264

SHAREHOLDERS' FUNDS			391		267

Page 1

Page 2

Carneil Precision Engineering Limited

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P Cousins

Director

29 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Carneil Precision Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05311924 . The registered office is Unit 9 Fan Road, Staveley, Chesterfield, Derbyshire, S43 3PT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	25% on cost
Plant & Machinery	15% on cost
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	15% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Page 3

Page 4

Carneil Precision Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

2.7. Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.8. 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. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	9,243	107,973	12,198	13,500	142,914
Additions	-	11,923	46,903	438	59,264
Disposals	-	(2,300 )	(12,198 )	-	(14,498 )

As at 31 December 2024	9,243	117,596	46,903	13,938	187,680

Depreciation
As at 1 January 2024	9,243	79,579	6,793	10,119	105,734
Provided during the period	-	7,437	11,726	1,036	20,199
Disposals	-	(2,300 )	(6,794 )	-	(9,094 )

As at 31 December 2024	9,243	84,716	11,725	11,155	116,839

Net Book Value
As at 31 December 2024	-	32,880	35,178	2,783	70,841

As at 1 January 2024	-	28,394	5,405	3,381	37,180

Page 4

Page 5

Carneil Precision Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	1,000	1,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	31,687	36,290
Prepayments and accrued income	661	1,576

	32,348	37,866

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	5,713	-
Trade creditors	6,644	10,456
Bank loans and overdrafts	13,761	11,093
Corporation tax	5,139	3,270
VAT	4,457	11,475
Other creditors	1,397	1,332
Accruals and deferred income	6,056	21,029

	43,167	58,655

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	32,268	-
Bank loans	14,906	26,001

	47,174	26,001

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	5,713	-
Later than one year and not later than five years	32,268	-

	37,981	-

	37,981	-

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	3	3

Page 5