AKS PRECISION BALL EUROPE LIMITED

1. AKS PRECISION BALL EUROPE LIMITED 2004-10-08 → present
2. NSK-AKS PRECISION BALL EUROPE LIMITED 1989-02-03 → 2004-10-08

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have adopted the going concern basis in preparing these financial statements after assessing the principal risks and having considered the continued impact of rising manufacturing costs. The Company continues to manage pressures on liquidity through existing cash balances and facilities available to it from its parent company, for which written parental support has been obtained, for the 12 month period commencing on the date of approval of these financial statements. The directors are satisfied that its parent company is able to extend this support. The directors believe that the company is well placed to manage business risks adequately and have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.”

Significant events

• “Sales revenue decreased from £13,800,492 to £12,477,615 due to decreased customer demand.”
• “Incurred high costs bringing steel into the UK due to HMRC quota restrictions, leading to storage costs and purchasing steel from additional European suppliers at double the cost.”
• “Company re-negotiated selling prices to compensate for increased manufacturing costs.”
• “Introduced compressed hours into a 4-day week and made some redundancies to reduce payroll costs.”
• “The company has faced challenges with steel deliveries and HMRC quotas but is mindful to stay within quota to avoid additional costs.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -9.6%

  £13,800,492 → £12,477,615

• Cash

  -45.5%

  £952,325 → £518,807

• Net assets

  -247.8%

  £1,555,706 → -£2,299,537

• Employees

  -3.3%

  91 → 88

• Operating profit

  -36.9%

  -£2,560,317 → -£3,504,675

• Profit before tax

  -41.3%

  -£2,715,552 → -£3,835,853

• Wages

  +2.1%

  £3,516,438 → £3,590,622

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers