Milltech Precision Engineering Limited in Norwich, NR13 6GA

Description

Data updated on: 01-11-2023

The firm is widely known under the name of Milltech Precision Engineering Limited. The firm was founded 26 years ago and was registered with 03731819 as its registration number. This head office of this firm is located in Norwich. You can contact it at Liberamus House Witchcraft Way, Rackheath. This firm's SIC and NACE codes are 32990 meaning Other manufacturing n.e.c.. Milltech Precision Engineering Ltd released its latest accounts for the financial year up to 2021-12-31. The company's most recent annual confirmation statement was released on 2022-11-06.

As for this particular company, a number of director's duties up till now have been fulfilled by Scott M., David H., Michael T. and Peter R.. Within the group of these four individuals, Peter R. has carried on with the company the longest, having been one of the many members of officers' team since March 2015. To find professional help with legal documentation, the company has been utilizing the expertise of Anne R. as a secretary since 2016.

Financial data based on annual reports

Profit & Loss
Date of Accounts	2012-07-31	2013-07-31	2014-07-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31
Currency	GBP	GBP	GBP	GBP	GBP	GBP	GBP	GBP	GBP	GBP	GBP
Net Worth	1 958 656	1 509 340	1 757 115

Balance Sheet
Cash Bank On Hand				95	231	26 524	13 240	372	567	914	1 157
Current Assets	2 326 795	1 826 474	2 329 962	1 226 761	1 313 675	1 403 672	2 485 819	1 923 825	1 537 153	1 996 822	1 994 282
Debtors	2 112 956	1 554 905	1 948 744	850 321	691 665	817 258	1 583 375	1 459 523	1 062 496	1 496 499	1 581 643
Net Assets Liabilities				1 425 448	1 571 677	1 751 845	1 770 834	1 288 700	1 006 789	1 347 415	1 871 323
Other Debtors				1 900	78	8 966	4 392	100 374	32 845	43 486	103 642
Property Plant Equipment				1 570 207	1 967 095	2 121 499	1 921 229	1 926 259	1 730 020	1 736 862	1 964 562
Cash Bank In Hand	22 914	24 958	36 913
Net Assets Liabilities Including Pension Asset Liability	1 958 656	1 509 340	1 757 115
Stocks Inventory	190 925	246 611	344 305
Tangible Fixed Assets	801 768	763 872	1 029 346
Total Inventories				376 345	621 779	559 890	889 204	463 930	474 090

Capital & Reserves
Called Up Share Capital	100	100	100
Profit Loss Account Reserve	1 958 556	1 509 240	1 757 015
Shareholder Funds	1 958 656	1 509 340	1 757 115

Other Financial Data
Audit Fees Expenses									13 000	12 100	13 500
Accumulated Depreciation Impairment Property Plant Equipment				95 000	123 000	948 910	1 218 646	1 562 295	1 911 273	2 269 373	2 675 141
Amounts Owed By Related Parties										10 429	1 591
Amounts Owed To Group Undertakings							537 742	1 000		1 773
Average Number Employees During Period				43	43	66	64	56	52	48	49
Bank Borrowings Overdrafts				352 070	494 340	1 964 688	2 054 504	1 284 426	1 445 638	1 578 213	1 113 315
Corporation Tax Payable				44 468	56 142	51 198	-35 802			4 080
Corporation Tax Recoverable											118 850
Creditors				77 672	19 806	2 806 646	3 725 954	2 448 197	2 195 187	2 240 358	1 964 495
Future Minimum Lease Payments Under Non-cancellable Operating Leases				14 879	119 103	123 118	130 273	131 570	131 153	527 001	492 254
Increase From Depreciation Charge For Year Property Plant Equipment					47 500		329 936	343 649	348 978	358 100	406 248
Net Current Assets Liabilities	1 474 970	1 026 245	1 216 965	208 154	-194 597	-1 402 974	-1 240 135	-524 372	-658 034	-243 536	29 787
Other Creditors				80 103	92 007	283 699	142 961	112 470	108 513	172 717	214 312
Other Disposals Decrease In Depreciation Impairment Property Plant Equipment											480
Other Disposals Property Plant Equipment											600
Other Taxation Social Security Payable				28 258	35 962	27 851	41 182	40 811	39 214	184 056	124 744
Property Plant Equipment Gross Cost				1 980 077	2 605 954	3 070 409	3 139 875	3 488 554	3 641 293	4 006 235	4 639 703
Provisions For Liabilities Balance Sheet Subtotal				275 241	181 015	149 575	113 155	114 187	65 197	145 911	123 026
Total Additions Including From Business Combinations Property Plant Equipment					625 877		219 966	348 709	152 739	364 942	634 068
Total Assets Less Current Liabilities	2 276 738	1 790 117	2 246 311	1 778 361	1 772 498	1 901 420	1 883 989	1 402 887	1 071 986	1 493 326	1 994 349
Trade Creditors Trade Payables				391 139	706 575	327 058	880 392	598 573	398 695	299 519	512 124
Trade Debtors Trade Receivables				810 701	658 612	775 486	1 542 016	1 302 746	988 517	1 442 584	1 357 560
Transfers To From Retained Earnings Increase Decrease In Equity									-71 824	-71 824	-71 824
Director Remuneration				109 469	114 257	143 497	117 357	104 803	135 207
Number Directors Accruing Benefits Under Money Purchase Scheme				2	2	2	2	1	1
Company Contributions To Money Purchase Plans Directors						723	120
Accrued Liabilities				14 344	65 377	48 199	70 003	71 250	74 126
Additional Provisions Increase From New Provisions Recognised					-81 726		6 000	6 000	-48 990
Administrative Expenses				721 647	850 011		1 036 311	2 316 630	1 058 688
Amounts Owed By Group Undertakings				1 890	247
Applicable Tax Rate				20	19		19	19	19
Bank Overdrafts				352 070	494 340	1 964 688	2 054 504	1 284 426	1 445 638
Comprehensive Income Expense				257 546	446 229	380 168	318 989	-482 134	-72 911
Cost Sales				2 270 300	2 676 116		2 934 450	3 826 966	3 312 559
Creditors Due After One Year	248 338	199 011	343 965
Creditors Due Within One Year	851 825	800 229	1 112 997
Current Tax For Period				93 666	103 153	151 109	-15 802
Debtors Due After One Year	-1 359 247	-1 051 767	-1 327 948
Depreciation Expense Property Plant Equipment				160 794	181 489	308 010	328 543	335 349	348 978
Dividends Paid				723 906	300 000	200 000	300 000		209 000
Dividends Paid On Shares Interim				723 906	300 000		300 000
Finance Lease Liabilities Present Value Total				77 672	19 806	19 806		3 333
Further Item Gain Loss In Other Comprehensive Income Before Tax Component Total Other Comprehensive Income Before Tax					19 238
Further Item Interest Expense Component Total Interest Expense				376	2 044			347
Further Operating Expense Item Component Total Operating Expenses				8 625	8 625	12 750	10 135	16 350	13 000
Gross Profit Loss				1 052 530	1 323 254		883 052	953 857	916 669
Increase Decrease In Current Tax From Adjustment For Prior Periods					1 114		-13 764	-2 331
Interest Expense On Obligations Under Finance Leases Hire Purchase Contracts				7 292	4 768	9 097	4 248	1 754	681
Interest Payable Similar Charges Finance Costs				7 668	6 812		209	2 101	681
Merchandise				376 345	621 779	559 890	889 204	463 930	474 090
Number Shares Allotted		100	100
Operating Profit Loss				330 883	475 582		-153 259	-1 268 749	-121 417
Other Comprehensive Income Expense Net Tax					19 238
Other Deferred Tax Expense Credit				-27 997	-62 488	-33 386	-41 001	-50 018	-48 990
Other Operating Income Format1					2 339			94 024	20 602
Par Value Share		1	1
Pension Other Post-employment Benefit Costs Other Pension Costs				28 155	34 161	51 965	44 429	56 374	52 100
Prepayments				35 830	30 647	32 806	36 967	56 403	41 134
Profit Loss				257 546	426 991	483 533	318 989	-482 134	-72 911
Profit Loss On Ordinary Activities Before Tax				323 215	468 770		247 003	-534 483	-121 901
Provisions				260 241	178 515	5 500	11 500	11 500	11 500
Provisions For Liabilities Charges	69 744	81 766	145 231
Recoverable Value-added Tax					2 081
Secured Debts	529 696	460 894	723 945
Share Capital Allotted Called Up Paid	100	100	100
Social Security Costs				12 329	14 755	17 798	15 605	14 021	19 481
Staff Costs Employee Benefits Expense				1 302 056	1 520 561	1 979 270	1 594 941	1 837 966	1 810 821
Tangible Fixed Assets Additions		99 152	407 286
Tangible Fixed Assets Cost Or Valuation	2 417 044	2 516 196	2 923 482
Tangible Fixed Assets Depreciation	1 615 276	1 752 324	1 894 136
Tangible Fixed Assets Depreciation Charged In Period		137 048	141 812
Tax Expense Credit Applicable Tax Rate				64 643	90 224		46 931	-101 552	-23 161
Tax Increase Decrease From Effect Capital Allowances Depreciation					-49 495		25 663	31 393	1 120
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss				1 026	-64		756	207 100	400
Tax Tax Credit On Profit Or Loss On Ordinary Activities				65 669	41 779	65 641	-71 986	-52 349	-48 990
Total Current Tax Expense Credit				93 666	104 267	99 027	30 931	-2 331
Total Operating Lease Payments				10 359	13 795	4 599	2 782	15 215	13 392
Turnover Revenue				3 322 830	3 999 370		3 817 502	4 780 823	4 229 228
Wages Salaries				1 261 572	1 471 645	1 909 507	1 534 907	1 767 571	1 739 240
Accumulated Amortisation Impairment Intangible Assets						34 751	80 119
Amortisation Expense Intangible Assets						34 751	45 368
Disposals Decrease In Depreciation Impairment Property Plant Equipment							60 200
Disposals Property Plant Equipment							150 500	30
Dividends Paid On Shares First Interim						200 000	300 000		209 000
Fixed Assets						3 304 394	3 124 124	1 927 259	1 730 020
Gain Loss Due To Foreign Exchange Differences Recognised In Profit Or Loss						-2 400			-1 131
Gain Loss On Disposals Property Plant Equipment						-12 253	-3 432	9 970
Income From Shares In Group Undertakings							400 000	736 199
Increase Decrease In Property Plant Equipment								82 996
Increase From Amortisation Charge For Year Intangible Assets							45 368
Intangible Assets						382 255	356 887
Intangible Assets Gross Cost						417 006	437 006
Investments Fixed Assets						1 182 895	1 202 895	1 000
Investments In Group Undertakings						1 182 895	1 202 895	1 000	-1 000
Other Interest Receivable Similar Income Finance Income							471	168	197
Tax Decrease From Utilisation Tax Losses							-471		-22 674
Tax Decrease Increase From Effect Revenue Exempt From Taxation							76 000	113 278
Total Additions Including From Business Combinations Intangible Assets							20 000