Precise Fastenings & Supplies Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02147950 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

PRECISE FASTENINGS & SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Certified Accountants' Report

6

DIRECTORS:

A Williams

V R Williams

SECRETARY:

V R Williams

REGISTERED OFFICE:

Unit 3, Rowanwood, Ivanhoe Road

Hogwood Lane Industrial Estate

Finchampstead

Wokingham

Berkshire

RG40 4QQ

REGISTERED NUMBER:

02147950 (England and Wales)

ACCOUNTANTS:

A W Associates

Regus, Building 2

Guildford Business Park Road

Guildford

Surrey

GU2 8XG

FIXED ASSETS

Tangible assets

4

488

823

CURRENT ASSETS

Stocks

27,406

22,189

Debtors

5

81,828

60,633

Cash at bank and in hand

217,082

179,932

326,316

262,754

CREDITORS

Amounts falling due within one year

6

93,087

64,735

NET CURRENT ASSETS

233,229

198,019

TOTAL ASSETS LESS CURRENT LIABILITIES

233,717

198,842

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

232,717

197,842

SHAREHOLDERS' FUNDS

233,717

198,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by:

A Williams - Director

V R Williams - Director

1.	STATUTORY INFORMATION

Precise Fastenings & Supplies 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 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.

Plant and machinery etc

-

25% on cost and 20% 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 participates in a defined contribution scheme. Contributions payable for the year are charged to the profit and loss account on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

and 30 June 2023

50,077

DEPRECIATION

At 1 July 2022

49,254

Charge for year

335

At 30 June 2023

49,589

NET BOOK VALUE

At 30 June 2023

488

At 30 June 2022

823

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

79,276

56,353

Other debtors

2,552

4,280

81,828

60,633

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

66,004

48,285

Taxation and social security

23,083

14,117

Other creditors

4,000

2,333

93,087

64,735

7.	RELATED PARTY DISCLOSURES

The company operated from premises owned by the directors and the rent paid to them during the year amounted to £25,008 (2022: £25,008).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Precise Fastenings & Supplies Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Precise Fastenings & Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Precise Fastenings & Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Precise Fastenings & Supplies Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Precise Fastenings & Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Precise Fastenings & Supplies Limited. You consider that Precise Fastenings & Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Precise Fastenings & Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A W Associates

Regus, Building 2

Guildford Business Park Road

Guildford

Surrey

GU2 8XG

22 August 2023