A C Price (Engineering) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02941418

A C PRICE (ENGINEERING) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2025

A C PRICE (ENGINEERING) LIMITED

STATEMENT OF FINANCIAL POSITION

31 October 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Intangible assets	6	1,368	3,028
Tangible assets	7	811,047	830,548
		-----------	-----------
		812,415	833,576

CURRENT ASSETS

Stocks		1,259,475	1,057,947
Debtors	8	70,899	140,925
Cash at bank and in hand		950	2,733
		--------------	--------------
		1,331,324	1,201,605

CREDITORS: amounts falling due within one year	9	620,718		607,601
		--------------		--------------
NET CURRENT ASSETS			710,606	594,004
			--------------	--------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,523,021	1,427,580

CREDITORS: amounts falling due after more than one year	10		247,546	167,644

PROVISIONS

Pensions and similar obligations	849		1,103
Taxation including deferred tax	27,748		31,454
	---------		---------
		28,597	32,557
		--------------	--------------
NET ASSETS		1,246,878	1,227,379
		--------------	--------------

A C PRICE (ENGINEERING) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 October 2025

	2025		2024
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	2	2
Revaluation reserve	284,016	284,016
Profit and loss account	962,860	943,361
	--------------	--------------
SHAREHOLDERS FUNDS	1,246,878	1,227,379
	--------------	--------------

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 31st October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 28 May 2026 , and are signed on behalf of the board by:

Mr A C Price
Director

Company registration number: 02941418

A C PRICE (ENGINEERING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st OCTOBER 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dale House, Masongill, Ingleton, Carnforth, LA6 3NN, Lancashire.

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.

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.

INCOME TAX

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

FOREIGN CURRENCIES

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

AMORTISATION

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

	Computer equipment	-	33% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

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.

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 12 (2024: 12 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	27,814	34,121

Deferred tax:

Origination and reversal of timing differences	( 3,705)	( 5,535)
	---------	---------
Tax on profit	24,109	28,586
	---------	---------

6. INTANGIBLE ASSETS

	Goodwill
	£

Cost
At 1st November 2024 and 31st October 2025	22,326
	---------
Amortisation
At 1st November 2024	19,298
Charge for the year	1,660
	---------
At 31st October 2025	20,958
	---------
Carrying amount
At 31st October 2025	1,368
	---------
At 31st October 2024	3,028
	---------

7. TANGIBLE ASSETS

Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
£	£	£	£	£	£

Cost
At 1 Nov 2024	665,000	816,996	18,408	75,491	42,792	1,618,687
Additions	–	–	–	–	6,000	6,000
	-----------	-----------	---------	---------	---------	--------------
At 31 Oct 2025	665,000	816,996	18,408	75,491	48,792	1,624,687
	-----------	-----------	---------	---------	---------	--------------
Depreciation
At 1 Nov 2024	–	655,106	16,520	73,721	42,792	788,139
Charge for the year	–	24,336	472	443	250	25,501
	-----------	-----------	---------	---------	---------	--------------
At 31 Oct 2025	–	679,442	16,992	74,164	43,042	813,640
	-----------	-----------	---------	---------	---------	--------------
Carrying amount
At 31 Oct 2025	665,000	137,554	1,416	1,327	5,750	811,047
	-----------	-----------	---------	---------	---------	--------------
At 31 Oct 2024	665,000	161,890	1,888	1,770	–	830,548
	-----------	-----------	---------	---------	---------	--------------

8. DEBTORS

	2025	2024
	£	£

Trade debtors	33,057	102,925
Prepayments and accrued income	37,842	38,000
	---------	-----------
	70,899	140,925
	---------	-----------

9. CREDITORS: amounts falling due within one year

	2025	2024
	£	£

Bank loans and overdrafts	182,447	249,872
Trade creditors	153,117	84,423
Accruals and deferred income	1,950	1,950
Corporation tax	40,408	35,700
Social security and other taxes	26,288	55,202
Director loan accounts	14,417	132
Other creditors	202,091	180,322
	-----------	-----------
	620,718	607,601
	-----------	-----------

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

	2025	2024
	£	£

Bank loans and overdrafts	247,546	167,644
	-----------	-----------