Company Registration No. 12143071 (England and Wales)
Automotive Precision Engineering Limited
Unaudited accounts
for the year ended 31 August 2025
Automotive Precision Engineering Limited
Unaudited accounts
Contents
Automotive Precision Engineering Limited
Statement of financial position
as at 31 August 2025
Intangible assets
10,845
11,620
Tangible assets
145,316
135,812
Cash at bank and in hand
6,662
7,894
Creditors: amounts falling due within one year
(402,325)
(443,992)
Net current assets
2,750
14,632
Total assets less current liabilities
158,911
162,064
Creditors: amounts falling due after more than one year
(75,648)
(46,050)
Provisions for liabilities
Deferred tax
(24,064)
(30,291)
Called up share capital
1,176
1,176
Profit and loss account
58,023
84,547
Shareholders' funds
59,199
85,723
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 May 2026 and were signed on its behalf by
Mr D Gelling
Director
Company Registration No. 12143071
Automotive Precision Engineering Limited
Notes to the Accounts
for the year ended 31 August 2025
Automotive Precision Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 12143071. The registered office is Unit 2, 24 Bayton Road, Coventry, Warwickshire, CV7 9EJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in pound sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
7 years straight line
Motor vehicles
5 years straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Automotive Precision Engineering Limited
Notes to the Accounts
for the year ended 31 August 2025
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 September 2024
15,495
Automotive Precision Engineering Limited
Notes to the Accounts
for the year ended 31 August 2025
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 September 2024
233,772
23,995
257,767
At 31 August 2025
233,772
76,119
309,891
At 1 September 2024
111,796
10,159
121,955
Charge for the year
33,396
9,224
42,620
At 31 August 2025
145,192
19,383
164,575
At 31 August 2025
88,580
56,736
145,316
At 31 August 2024
121,976
13,836
135,812
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
5,343
10,409
- Motor vehicles
56,736
13,834
Amounts falling due within one year
Trade debtors
284,748
325,235
Accrued income and prepayments
18,965
18,882
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
5,556
5,556
Obligations under finance leases and hire purchase contracts
12,933
4,799
Trade creditors
130,121
117,725
Taxes and social security
49,993
50,896
Other creditors
155,325
222,290
Other creditors include advances from an invoice discounting company of £75,565 (2024: £152,348) relating to assigned trade book debts of £284,748.
The finance leases and hire purchase contracts are secured on the assets concerned.
Other creditors include a balance which is secured by way of a fixed and floating charge over the assets of the company.
Automotive Precision Engineering Limited
Notes to the Accounts
for the year ended 31 August 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
39,352
9,198
Other creditors
15,000
10,000
Aggregate of amounts that fall due for payment after five years
-
4,630
The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,720 (2024: £1,474) were due to the fund. They are included in other creditors.
10
Operating lease commitments
2025
2024
At 31 August 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,260
15,086
Later than one year and not later than five years
1,775
6,036
11
Transactions with related parties
The company has a loan to a connected company Facilitate Financing Ltd. The balance at the year-end was £4,232 (2024: £9,682)
12
Average number of employees
During the year the average number of employees was 11 (2024: 13).