Company Registration No. 05018939 (England and Wales)
Milton Precision Engineering Limited
Unaudited accounts
for the year ended 31 March 2022
Milton Precision Engineering Limited
Unaudited accounts
Contents
Milton Precision Engineering Limited
Company Information
for the year ended 31 March 2022
Company Number
05018939 (England and Wales)
Registered Office
127-131 CAMBRIDGE ROAD
MILTON
CAMBRIDGE
CB4 6AT
Milton Precision Engineering Limited
Statement of financial position
as at 31 March 2022
Intangible assets
16,075
26,122
Tangible assets
13,398
15,994
Cash at bank and in hand
541,015
441,104
Creditors: amounts falling due within one year
(169,298)
(153,796)
Net current assets
548,116
432,460
Total assets less current liabilities
577,589
474,576
Provisions for liabilities
Deferred tax
(2,754)
(3,039)
Net assets
574,835
471,537
Called up share capital
1,000
1,000
Profit and loss account
573,835
470,537
Shareholders' funds
574,835
471,537
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 December 2022 and were signed on its behalf by
Simon Heathcote
Director
Company Registration No. 05018939
Milton Precision Engineering Limited
Notes to the Accounts
for the year ended 31 March 2022
Milton Precision Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05018939. The registered office is 127-131 CAMBRIDGE ROAD, MILTON, CAMBRIDGE, CB4 6AT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Charge for the year
10,047
Milton Precision Engineering Limited
Notes to the Accounts
for the year ended 31 March 2022
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2021
131,028
29,233
160,261
At 31 March 2022
132,530
29,233
161,763
At 1 April 2021
123,126
21,141
144,267
Charge for the year
2,075
2,023
4,098
At 31 March 2022
125,201
23,164
148,365
At 31 March 2022
7,329
6,069
13,398
At 31 March 2021
7,902
8,092
15,994
Amounts falling due within one year
Trade debtors
150,464
117,764
Accrued income and prepayments
6,722
7,138
Other debtors
11,588
8,000
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
77,233
75,188
Taxes and social security
39,892
25,175
Other creditors
1,518
1,911
Loans from directors
9,908
23,308
8
Transactions with related parties
The company paid dividends of £27,685 (2020: £66,200) to the director Mr S Heathcote.
9
Average number of employees
During the year the average number of employees was 7 (2021: 7).
