REGISTERED NUMBER: 08068454 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

FOR

PARROTT PRECISION ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Parrott

REGISTERED OFFICE:

Unit 17-18 Whitegate Industrial Estate

Whitegate Road

Wrexham

Wrexham

LL13 8UG

REGISTERED NUMBER:

08068454 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

HSBC Bank Plc

60 Mostyn Street

Llandudno

LL302SF

FIXED ASSETS

Intangible assets

4

37,903

50,537

Tangible assets

5

112,016

135,741

149,919

186,278

CURRENT ASSETS

Stocks

6

32,580

39,981

Debtors

7

165,949

82,348

Cash at bank and in hand

29,352

40,007

227,881

162,336

CREDITORS

Amounts falling due within one year

8

247,602

259,730

NET CURRENT LIABILITIES

(19,721

)

(97,394

)

TOTAL ASSETS LESS CURRENT LIABILITIES

130,198

88,884

CREDITORS

Amounts falling due after more than one year

9

16,243

35,970

NET ASSETS

113,955

52,914

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

113,855

52,814

SHAREHOLDERS' FUNDS

113,955

52,914

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd July 2026 and were signed by:

J W Parrott - Director

1.	STATUTORY INFORMATION

Parrott Precision Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 5 (2025 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2025

and 31st March 2026

63,171

AMORTISATION

At 1st April 2025

12,634

Amortisation for year

12,634

At 31st March 2026

25,268

NET BOOK VALUE

At 31st March 2026

37,903

At 31st March 2025

50,537

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2025

151,866

6,125

21,225

483

179,699

Additions

3,100

-

7,300

1,500

11,900

Disposals

-

-

(247

)

-

(247

)

At 31st March 2026

154,966

6,125

28,278

1,983

191,352

DEPRECIATION

At 1st April 2025

37,901

590

5,306

161

43,958

Charge for year

28,560

919

5,758

203

35,440

Eliminated on disposal

-

-

(62

)

-

(62

)

At 31st March 2026

66,461

1,509

11,002

364

79,336

NET BOOK VALUE

At 31st March 2026

88,505

4,616

17,276

1,619

112,016

At 31st March 2025

113,965

5,535

15,919

322

135,741

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st April 2025

79,725

19,589

99,314

Additions

-

7,300

7,300

Transfer to ownership

(28,674

)

-

(28,674

)

At 31st March 2026

51,051

26,889

77,940

DEPRECIATION

At 1st April 2025

19,932

4,897

24,829

Charge for year

14,948

5,498

20,446

Transfer to ownership

(12,545

)

-

(12,545

)

At 31st March 2026

22,335

10,395

32,730

NET BOOK VALUE

At 31st March 2026

28,716

16,494

45,210

At 31st March 2025

59,793

14,692

74,485

6.

STOCKS

31.3.26

31.3.25

£

£

Stocks

9,580

8,871

Work-in-progress

23,000

31,110

32,580

39,981

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

134,391

78,561

Other debtors

2,611

2,637

Deferred tax asset

Accelerated capital allowances

28,004

-

Prepayments

943

1,150

165,949

82,348

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts (see note 10)

-

15,000

Hire purchase contracts

24,189

37,717

Trade creditors

10,515

7,010

Tax

21,396

30,294

Social security and other taxes

4,549

4,134

VAT

42,436

26,075

Other creditors

2,991

3,110

Directors' current accounts

136,451

132,899

Accrued expenses

5,075

3,491

247,602

259,730

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

16,243

35,970

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.26

31.3.25

£

£

Amounts falling due within one year or on demand:

Bank loans

-

15,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Hire purchase contracts

40,432

-

12.	DEFERRED TAX

£

Changes in tax losses

Changes in tax allowances

(28,004

)

Changes in tax rates

Balance at 31st March 2026

(28,004

)

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

100

Ordinary

£1

100

100

14.	CAPITAL COMMITMENTS

31.3.26

31.3.25

£

£

Contracted but not provided for in the

financial statements

-

-

15.	ULTIMATE CONTROLLING PARTY

The controlling party is J W Parrott.