W K W Precision Engineering Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01576936

W K W PRECISION ENGINEERING COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 July 2025

W K W PRECISION ENGINEERING COMPANY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

W K W PRECISION ENGINEERING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,247,364		1,257,784

CURRENT ASSETS

Stocks		1,334,474	1,002,160
Debtors	6	827,547	1,536,845
Cash at bank and in hand		8,994	23,486
		-------------	-------------
		2,171,015	2,562,491

CREDITORS: amounts falling due within one year	7	1,290,673		1,720,418
		-------------		-------------
NET CURRENT ASSETS			880,342		842,073
			-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			2,127,706		2,099,857

CREDITORS: amounts falling due after more than one year	8		111,329		314,316

PROVISIONS

Taxation including deferred tax	9	187,616	181,999
		-------------	-------------
NET ASSETS		1,828,761	1,603,542
		-------------	-------------

W K W PRECISION ENGINEERING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	11	34,058	34,058
Capital redemption reserve		11,353	11,353
Profit and loss account		1,783,350	1,558,131
		-------------	-------------
SHAREHOLDERS FUNDS		1,828,761	1,603,542
		-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 April 2026 , and are signed on behalf of the board by:

A R Wyatt

Director

Company registration number: 01576936

W K W PRECISION ENGINEERING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England. The address of the registered office is Shaw Royd Works, Shaw Lane, Halifax, West Yorkshire, HX3 9HD.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to the write down of old stock items.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible 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

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:

Freehold property	-	2% straight line
Plant and machinery	-	10% straight line
Fixture and fittings	-	33% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic Financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 31 (2024: 43 ).

5. TANGIBLE ASSETS

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 August 2024	889,032	3,059,557	166,569	178,387	4,293,545
Additions	–	30,185	–	144,201	174,386
Disposals	–	( 9,865)	–	( 90,601)	( 100,466)
	----------	-------------	----------	----------	-------------
At 31 July 2025	889,032	3,079,877	166,569	231,987	4,367,465
	----------	-------------	----------	----------	-------------
Depreciation
At 1 August 2024	333,350	2,479,858	161,703	60,850	3,035,761
Charge for the year	20,441	85,189	2,037	16,738	124,405
Disposals	–	( 9,865)	–	( 30,200)	( 40,065)
	----------	-------------	----------	----------	-------------
At 31 July 2025	353,791	2,555,182	163,740	47,388	3,120,101
	----------	-------------	----------	----------	-------------
Carrying amount
At 31 July 2025	535,241	524,695	2,829	184,599	1,247,364
	----------	-------------	----------	----------	-------------
At 31 July 2024	555,682	579,699	4,866	117,537	1,257,784
	----------	-------------	----------	----------	-------------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	797,373	1,340,339
Other debtors	30,174	196,506
	----------	-------------
	827,547	1,536,845
	----------	-------------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	143,118	136,932
Trade creditors	271,483	333,249
Corporation tax	111,274	–
Social security and other taxes	45,065	80,033
Other creditors	719,733	1,170,204
	-------------	-------------
	1,290,673	1,720,418
	-------------	-------------

Included in other creditors is £670,810 (2024 - £971,220) secured on assets held by the company.

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	38,865	181,983
Other creditors	72,464	132,333
	----------	----------
	111,329	314,316
	----------	----------

Included in other creditors is £72,464 (2024 - £132,333) secured on assets held by the company .

9. PROVISIONS

	Deferred tax (note 10)
	£
At 1 August 2024	181,999
Additions	5,617
	----------
At 31 July 2025	187,616
	----------

10. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 9)	187,616	181,999
	----------	----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	187,616	181,999
	----------	----------

11. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	17,029	17,029	17,029	17,029
Ordinary B shares of £ 1 each	17,029	17,029	17,029	17,029
	---------	---------	---------	---------
	34,058	34,058	34,058	34,058
	---------	---------	---------	---------

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors had unsecured loans with the company. The loans bear no interest and are repayable on demand. The loan was in credit at the year end and overdrawn by a maximum of £489,486 during the year.