REGISTERED NUMBER: 00948502 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Accurate Cutting Services Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M K Fleeming

G R Fleeming

B Pritchard

SECRETARY:

G R Fleeming

REGISTERED OFFICE:

Unit 44 Crossgate Road

Park Farm Industrial Estate

Redditch

Worcestershire

B98 7SN

REGISTERED NUMBER:

00948502 (England and Wales)

AUDITORS:

Derek Young & Co Accountants LLP

Statutory Auditors

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

BANKERS:

HSBC Bank plc

Church Green West

Redditch

Worcestershire

B97 4EA

FIXED ASSETS

Tangible assets

4

1,514,123

1,502,206

Investments

5

1

1

1,514,124

1,502,207

CURRENT ASSETS

Stocks

491,443

426,338

Debtors

537,302

565,179

Cash at bank and in hand

540,671

888,520

1,569,416

1,880,037

CREDITORS

Amounts falling due within one year

418,224

528,580

NET CURRENT ASSETS

1,151,192

1,351,457

TOTAL ASSETS LESS CURRENT LIABILITIES

2,665,316

2,853,664

PROVISIONS FOR LIABILITIES

183,188

180,209

NET ASSETS

2,482,128

2,673,455

CAPITAL AND RESERVES

Called up share capital

6

750

750

Revaluation reserve

7

960,160

968,074

Retained earnings

1,521,218

1,704,631

SHAREHOLDERS' FUNDS

2,482,128

2,673,455

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 November 2025 and were signed on its behalf by:

M K Fleeming - Director

1.	STATUTORY INFORMATION

Accurate Cutting Services Ltd 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Accurate Cutting Services Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

Tangible fixed assets

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

Freehold property

-

2% on cost

Electrical installations

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Tangible fixed assets are included in the financial statements at cost or valuation less depreciation or amortisation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 26 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

3,514,013

Additions

82,094

Disposals

(107,986

)

At 31 March 2025

3,488,121

DEPRECIATION

At 1 April 2024

2,011,807

Charge for year

68,443

Eliminated on disposal

(106,252

)

At 31 March 2025

1,973,998

NET BOOK VALUE

At 31 March 2025

1,514,123

At 31 March 2024

1,502,206

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2002

206,220

Valuation in 2006

165,000

Valuation in 2009

(151,250

)

Valuation in 2011

(98,750

)

Valuation in 2014

67,500

Valuation in 2015

127,500

Valuation in 2018

154,686

Valuation in 2021

150,000

Valuation in 2024

190,000

Cost

2,677,215

3,488,121

If freehold properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

489,094

489,094

Aggregate depreciation

185,547

176,691

Freehold properties were valued on an open market basis on 31 March 2025 by the directors .

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

250

Ordinary

£1

250

250

500

'A' Ordinary

£1

500

500

750

750

The shares shall have the following voting rights (whether at a general meeting or by way of a written resolution)

The Ordinary Shares shall have three votes per share, and

The 'A' Ordinary Shares shall have one vote per share.

7.

RESERVES

Revaluation

reserve

£

At 1 April 2024

968,074

Amortisation of revalued property

(10,551

)

Deferred tax on revalued property

2,637

At 31 March 2025

960,160

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Young BSc FCA (Senior Statutory Auditor)

for and on behalf of Derek Young & Co Accountants LLP

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

G R Fleeming

Balance outstanding at start of year

833

2,833

Amounts repaid

(833

)

(2,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

833

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 were paid to the directors .

11.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by Mr M K Fleeming by virtue of his 60% share of the voting rights.

12.	SUBSEQUENT EVENTS

Since 31 March 2025, the company has ceased several of its lower margin business activities in order for it to be able to focus on its core metal cutting activity, which carries the highest margin. The ceased activities generated £1.5m of revenue in the year to 31 March 2025. Overheads have been reduced such that the company is expected to return to profit from the 31 March 2027 year onwards.