Precise A.V. Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06774838 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2019

for

Precise A.V. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C M R Benbow

SECRETARY:

Mrs C B Benbow

REGISTERED OFFICE:

48 Palmersfield Road

Banstead

Surrey

SM7 2LD

BUSINESS ADDRESS:

11 Stagbury Avenue

Chipstead

Coulsdon

Surrey

CR5 3PA

REGISTERED NUMBER:

06774838 (England and Wales)

ACCOUNTANTS:

Bullimores LLP

Chartered Accountants

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

FIXED ASSETS

Tangible assets

3

10,013

12,516

CURRENT ASSETS

Debtors

4

197,041

160,484

Prepayments and accrued income

1,446

3,473

Cash at bank

1,179,006

667,562

1,377,493

831,519

CREDITORS

Amounts falling due within one year

5

272,021

195,580

NET CURRENT ASSETS

1,105,472

635,939

TOTAL ASSETS LESS CURRENT LIABILITIES

1,115,485

648,455

PROVISIONS FOR LIABILITIES

(761

)

-

ACCRUALS AND DEFERRED INCOME

(2,000

)

(1,500

)

NET ASSETS

1,112,724

646,955

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

1,112,723

646,954

1,112,724

646,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 on 28 October 2019 and were signed by:

C M R Benbow - Director

1.	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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on reducing balance

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 February 2018

and 31 January 2019

24,445

DEPRECIATION

At 1 February 2018

11,929

Charge for year

2,503

At 31 January 2019

14,432

NET BOOK VALUE

At 31 January 2019

10,013

At 31 January 2018

12,516

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

Trade debtors

196,904

160,467

Social Security debtor

137

17

197,041

160,484

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

Tax

132,088

68,420

VAT

132,869

122,226

Other creditors

2,226

3,416

Directors' current accounts

4,838

1,518

272,021

195,580

Precise A.V. Limited - Accounts to registrar (filleted) - small 18.2

Precise A.V. Limited - Accounts to registrar (filleted) - small 18.2