Precision Component Services Ltd 05834371 false 2024-08-01 2025-12-31 2025-12-31 The principal activity of the company is the manufacture of fasteners and screw machine products Digita Accounts Production Advanced 6.30.9574.0 true true 05834371 2024-08-01 2025-12-31 05834371 2025-12-31 05834371 bus:Director1 1 2025-12-31 05834371 bus:Director3 1 2025-12-31 05834371 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-12-31 05834371 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-12-31 05834371 core:CurrentFinancialInstruments 2025-12-31 05834371 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 05834371 core:Non-currentFinancialInstruments 2025-12-31 05834371 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 05834371 core:FurnitureFittingsToolsEquipment 2025-12-31 05834371 core:MotorVehicles 2025-12-31 05834371 core:OtherPropertyPlantEquipment 2025-12-31 05834371 bus:SmallEntities 2024-08-01 2025-12-31 05834371 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-12-31 05834371 bus:FilletedAccounts 2024-08-01 2025-12-31 05834371 bus:SmallCompaniesRegimeForAccounts 2024-08-01 2025-12-31 05834371 bus:RegisteredOffice 2024-08-01 2025-12-31 05834371 bus:Director1 2024-08-01 2025-12-31 05834371 bus:Director1 1 2024-08-01 2025-12-31 05834371 bus:Director3 2024-08-01 2025-12-31 05834371 bus:Director3 1 2024-08-01 2025-12-31 05834371 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-12-31 05834371 core:FurnitureFittings 2024-08-01 2025-12-31 05834371 core:FurnitureFittingsToolsEquipment 2024-08-01 2025-12-31 05834371 core:MotorVehicles 2024-08-01 2025-12-31 05834371 core:OtherPropertyPlantEquipment 2024-08-01 2025-12-31 05834371 core:PlantMachinery 2024-08-01 2025-12-31 05834371 core:OtherRelatedParties 2024-08-01 2025-12-31 05834371 countries:AllCountries 2024-08-01 2025-12-31 05834371 2024-07-31 05834371 bus:Director1 1 2024-07-31 05834371 bus:Director3 1 2024-07-31 05834371 core:FurnitureFittingsToolsEquipment 2024-07-31 05834371 core:MotorVehicles 2024-07-31 05834371 core:OtherPropertyPlantEquipment 2024-07-31 05834371 2023-08-01 2024-07-31 05834371 2024-07-31 05834371 bus:Director1 1 2024-07-31 05834371 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 05834371 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 05834371 core:CurrentFinancialInstruments 2024-07-31 05834371 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 05834371 core:Non-currentFinancialInstruments 2024-07-31 05834371 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 05834371 core:FurnitureFittingsToolsEquipment 2024-07-31 05834371 core:MotorVehicles 2024-07-31 05834371 core:OtherPropertyPlantEquipment 2024-07-31 05834371 bus:Director1 1 2023-08-01 2024-07-31 05834371 bus:Director1 1 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 05834371

Precision Component Services Ltd
Unaudited Filleted Financial Statements
for the Period from 1 August 2024 to 31 December 2025

Precision Component Services Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 11

Precision Component Services Ltd

Company Information

Director | Mr S J Bailey

Registered office | Vicarage Court 160 Ermin Street Swindon Wiltshire SN3 4NE

Accountants | Regulatory Accounting Ltd T/A Optimum Professional Services Vicarage Court 160 Ermin Street Swindon Wiltshire SN3 4NE

Precision Component Services Ltd

(Registration number: 05834371)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 94,994 | 175,506
Current assets |  |  |
Stocks | 5 | 25,754 | 25,754
Debtors | 6 | 296,926 | 254,207
Cash at bank and in hand |  | 44,172 | 47,343
|  | 366,852 | 327,304
Creditors: Amounts falling due within one year | 7 | (202,231) | (220,807)
Net current assets |  | 164,621 | 106,497
Total assets less current liabilities |  | 259,615 | 282,003
Creditors: Amounts falling due after more than one year | 7 | (90,767) | (86,208)
Provisions for liabilities |  | (18,049) | (33,346)
Net assets |  | 150,799 | 162,449
Capital and reserves |  |  |
Called up share capital |  | 81 | 81
Share premium reserve |  | 9 | 9
Capital redemption reserve |  | 20 | 20
Retained earnings |  | 150,689 | 162,339
Shareholders' funds |  | 150,799 | 162,449

Precision Component Services Ltd

(Registration number: 05834371)
Balance Sheet as at 31 December 2025

For the financial period ending 31 December 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 accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 August 2026

......................................... Mr S J Bailey Director

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
England

The principal place of business is:
Unit C3, Brearley Place
Baird Road
Waterwells Business Park
Quedgeley
Gloucestershire
GL2 2AF
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis. The Director believes there are no material uncertainties apparent and the going concern basis remains appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & machinery | 25% reducing balance
Fixtures & fittings | 25% reducing balance
Motor vehicles | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 8 (2024 - 8).

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 August 2024 | 37,641 | 39,995 | 792,937 | 870,573
Additions | - | - | 1,556 | 1,556
Disposals | - | (39,995) | - | (39,995)
At 31 December 2025 | 37,641 | - | 794,493 | 832,134
Depreciation
At 1 August 2024 | 33,424 | 9,166 | 652,477 | 695,067
Charge for the period | 1,493 | - | 49,746 | 51,239
Eliminated on disposal | - | (9,166) | - | (9,166)
At 31 December 2025 | 34,917 | - | 702,223 | 737,140
Carrying amount
At 31 December 2025 | 2,724 | - | 92,270 | 94,994
At 31 July 2024 | 4,217 | 30,829 | 140,460 | 175,506

5 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 8,500 | 8,500
Work in progress | 5,254 | 5,254
Finished goods and goods for resale | 12,000 | 12,000
| 25,754 | 25,754

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

6 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 154,364 | 149,831
Amounts owed by related parties | 9 | 140,764 | 18,431
Prepayments |  | 1,798 | 298
Other debtors |  | - | 85,647
|  | 296,926 | 254,207

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 35,781 | 61,460
Trade creditors |  | 128,834 | 107,814
Taxation and social security |  | 31,701 | 36,680
Accruals and deferred income |  | 1,500 | 8,036
Other creditors |  | 4,415 | 6,817
|  | 202,231 | 220,807

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 90,767 | 86,208

There is a fixed charge held by Clydesdale Bank over the assets of the Company. There are no oustanding debts to which this relates at the year end date.

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 58,077 | 11,397
Hire purchase contracts | 32,690 | 74,811
| 90,767 | 86,208

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 23,401 | 35,552
Hire purchase contracts | 12,380 | 25,908
| 35,781 | 61,460

Precision Component Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2024 to 31 December 2025

9 | Related party transactions

Transactions with the director

2025 | At 1 August 2024 £ | Advances to director £ | Repayments by director £ | At 31 December 2025 £
Mr S V Norris
Director's current account | 1,623 | (247,673) | 246,050 | -
Mr S J Bailey
Director's current account | - | - | 156 | 156

2024 | At 1 August 2023 £ | Advances to director £ | Repayments by director £ | At 31 July 2024 £
Mr S V Norris
Director's current account | 495 | (47,184) | 48,312 | 1,623

Summary of transactions with other related parties

Included in other debtors is a balance owed by Cornish Hospitality of £0 (2024:£18,431).
At the date of the balance sheet Bailey Fasteners Limited owed £140,764 in relation to the sale of Precision Component Services Ltd, net of a working captial loan. The company owes Bailey Fasteners Limited £12,600 for management charges since the acquisiton.