REGISTERED NUMBER: 05742131 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

HELE BAY PRECISION ENGINEERING COMPANY

LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

391,278

443,742

Investment property

6

320,954

320,954

712,232

764,696

CURRENT ASSETS

Stocks

111,929

182,909

Debtors

7

131,170

76,495

Cash at bank and in hand

756,818

702,196

999,917

961,600

CREDITORS

Amounts falling due within one year

8

649,801

456,340

NET CURRENT ASSETS

350,116

505,260

TOTAL ASSETS LESS CURRENT LIABILITIES

1,062,348

1,269,956

CREDITORS

Amounts falling due after more than one year

9

-

(5,934

)

PROVISIONS FOR LIABILITIES

11

(69,977

)

(83,093

)

NET ASSETS

992,371

1,180,929

CAPITAL AND RESERVES

Called up share capital

12

837

837

Capital redemption reserve

13

163

163

Retained earnings

13

991,371

1,179,929

SHAREHOLDERS' FUNDS

992,371

1,180,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2026 and were signed on its behalf by:

Mr D R Rawlins - Director

Mrs E M Rawlins - Director

Mr N Tamlin - Director

Mrs S L Tamlin - Director

1.	STATUTORY INFORMATION

Hele Bay Precision Engineering Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05742131

Registered office:

Grenville House

9 Boutport Street

Barnstaple

Devon

EX31 1TZ

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Amortisation

Amortisation is calculated so as to write off the cost of an asset over the useful economic life of

that asset as follows:

Goodwill - fully amortised

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold land

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Profit and loss account, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2025 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

35,000

AMORTISATION

At 1 April 2025

and 31 March 2026

35,000

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

land

machinery

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

111,371

1,215,657

59,714

49,289

1,436,031

Additions

-

2,295

-

-

2,295

At 31 March 2026

111,371

1,217,952

59,714

49,289

1,438,326

DEPRECIATION

At 1 April 2025

-

944,398

8,776

39,115

992,289

Charge for year

-

40,517

12,734

1,508

54,759

At 31 March 2026

-

984,915

21,510

40,623

1,047,048

NET BOOK VALUE

At 31 March 2026

111,371

233,037

38,204

8,666

391,278

At 31 March 2025

111,371

271,259

50,938

10,174

443,742

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2025

and 31 March 2026

51,600

DEPRECIATION

At 1 April 2025

22,855

Charge for year

5,073

At 31 March 2026

27,928

NET BOOK VALUE

At 31 March 2026

23,672

At 31 March 2025

28,745

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

320,954

NET BOOK VALUE

At 31 March 2026

320,954

At 31 March 2025

320,954

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

111,885

56,142

Other debtors

19,285

20,353

131,170

76,495

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

5,934

9,288

Trade creditors

454,033

222,931

Taxation and social security

180,342

214,185

Other creditors

9,492

9,936

649,801

456,340

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

-

5,934

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

5,934

15,222

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

69,977

83,093

Deferred

tax

£

Balance at 1 April 2025

83,093

Provided during year

(13,116

)

Balance at 31 March 2026

69,977

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

NIL

Ordinary A

£1

-

511

(2025 - 511 )

NIL

Ordinary B

£1

-

326

(2025 - 489 )

1,000

Ordinary

£1

837

-

837

837

13.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2025

1,179,929

163

1,180,092

Profit for the year

244,981

244,981

Dividends

(433,539

)

(433,539

)

At 31 March 2026

991,371

163

991,534

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N and Mrs S Tamlin.