Precision Consulting (UK) Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08638978 (England and Wales)

PRECISION CONSULTING (UK) LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

D M D Chapple

REGISTERED OFFICE:

3 New Mill Court

Swansea Enterprise Park

Swansea

SA7 9FG

REGISTERED NUMBER:

08638978 (England and Wales)

ACCOUNTANTS:

Gerald Thomas

3 New Mill Court

Swansea Enterprise Park

Swansea

SA7 9FG

FIXED ASSETS

Tangible assets

2

2,881

2,000

CURRENT ASSETS

Debtors

-

15,264

Cash at bank

68,551

69,045

68,551

84,309

CREDITORS

Amounts falling due within one year

16,849

72,824

NET CURRENT ASSETS

51,702

11,485

TOTAL ASSETS LESS CURRENT LIABILITIES

54,583

13,485

PROVISIONS FOR LIABILITIES

177

-

NET ASSETS

54,406

13,485

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

54,306

13,385

SHAREHOLDERS' FUNDS

54,406

13,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 January 2016 and were signed by:

D M D Chapple - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

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

-

33% on cost and 20% on cost

Taxation

Deferred Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to

be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by

the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date. Timing differences are differences between the company's taxable profits and

its results as stated in the financial statements that arise from the inclusion of gains and losses in tax

assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that,

on the basis of all available evidence, it can be regarded as more likely than not that there will be

suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

Deferred tax is measured on a non-discounted basis.tax is recognised in respect of all timing

differences that have originated but not reversed at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

3,000

Additions

2,764

At 31 August 2015

5,764

DEPRECIATION

At 1 September 2014

1,000

Charge for year

1,883

At 31 August 2015

2,883

NET BOOK VALUE

At 31 August 2015

2,881

At 31 August 2014

2,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100