Exact Engineering - Accounts to registrar (filleted) - small 18.2

Exact Engineering - Accounts to registrar (filleted) - small 18.2

EXACT ENGINEERING (HOSE & FITTINGS) COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 03068520 (England and Wales)















Financial Statements for the Year Ended 30 September 2021

for

Exact Engineering (Hose & Fittings)
Company Limited
Exact Engineering (Hose & Fittings)
Company Limited (Registered number: 03068520)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Exact Engineering (Hose & Fittings)
Company Limited

Company Information
for the Year Ended 30 September 2021







DIRECTOR: Mrs J Vincent





SECRETARY: Mrs B A Floyd





REGISTERED OFFICE: 1 - 4 Burke Road
Industrial Estate
Totnes
Devon
TQ9 5XL





REGISTERED NUMBER: 03068520 (England and Wales)





ACCOUNTANTS: W R Frost & Co
Chartered Accountants
Riversdale
Ashburton Road
TOTNES
Devon
TQ9 5JU
Page 1
Exact Engineering (Hose & Fittings)
Company Limited (Registered number: 03068520)

Balance Sheet
30 September 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 662 1,014

CURRENT ASSETS
Stocks 58,006 53,265
Debtors 5 32,842 25,674
Cash at bank and in hand 239,366 218,924
330,214 297,863
CREDITORS
Amounts falling due within one year 6 56,721 49,426
NET CURRENT ASSETS 273,493 248,437
TOTAL ASSETS LESS CURRENT
LIABILITIES
274,155
249,451

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 274,055 249,351
SHAREHOLDERS' FUNDS 274,155 249,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 7 June 2022 and were signed by:





Mrs J Vincent - Director


The notes form part of these financial statements

Page 2
Exact Engineering (Hose & Fittings)
Company Limited (Registered number: 03068520)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

Exact Engineering (Hose & Fittings) Company 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.

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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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

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 1 (2020 - 1 ) .

Page 3 continued...
Exact Engineering (Hose & Fittings)
Company Limited (Registered number: 03068520)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2020 9,383 2,612 11,995
Additions 69 - 69
Disposals (34 ) - (34 )
At 30 September 2021 9,418 2,612 12,030
DEPRECIATION
At 1 October 2020 9,242 1,739 10,981
Charge for year 35 385 420
Eliminated on disposal (33 ) - (33 )
At 30 September 2021 9,244 2,124 11,368
NET BOOK VALUE
At 30 September 2021 174 488 662
At 30 September 2020 141 873 1,014

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 32,652 25,567
Other debtors 190 107
32,842 25,674

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 35,031 31,757
Taxation and social security 9,883 3,776
Other creditors 11,807 13,893
56,721 49,426

Page 4 continued...
Exact Engineering (Hose & Fittings)
Company Limited (Registered number: 03068520)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

7. RELATED PARTY DISCLOSURES

Vire Engineering Limited
A Company owned by Mrs J Vincent

During the year the Company purchased goods and services from this supplier of £100,725 (2020:£93,449). At the year end the amount due to Vire Engineering Ltd in respect of these supplies was £31,570 (2020: £19,154) - this is included in trade and other creditors.

During the year the company was charged £14,250 by Vire Engineering in respect of management and use of that company's premises (2020:£14,695). Included in other creditors, is the amount due at the year end of £5,543 (2020:£5,568).

During the year the company made sales to this customer of £7,209 (2020:£11,007). Included within trade debtors is a trading debt of £1,116 (2020:£3,904).

Page 5