Precise Environmental Ltd - Period Ending 2015-09-30

Registration number: 07704928

Precise Environmental Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Dynamo Accounting
Certified Accountants
11 Fanton Hall
Wickford
Essex
SS12 9JF

Precise Environmental Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Precise Environmental Ltd
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Precise Environmental Ltd for the year ended 30 September 2015 set out on pages 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/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Precise Environmental Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Precise Environmental Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Precise Environmental Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Precise Environmental Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Precise Environmental Ltd. You consider that Precise Environmental Ltd 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 accounts of Precise Environmental Ltd. 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 accounts.

......................................

Dynamo Accounting
Certified Accountants
11 Fanton Hall
Wickford
Essex
SS12 9JF

1 January 2016

Page 1

Precise Environmental Ltd
(Registration number: 07704928)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					12,591			4,772
Current assets
Debtors					3,792			27,236
Cash at bank and in hand					72,684			52,085
					76,476			79,321
Creditors: Amounts falling due within one year					(83,761)			(79,161)
Net current (liabilities)/assets					(7,285)			160
Net assets					5,306			4,932
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					5,305			4,931
Shareholders' funds					5,306			4,932

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 1 January 2016

.........................................
Mr Matthew Thurgood
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Precise Environmental Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% per annum on reducing balance basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		6,862			6,862
Additions		12,017			12,017
At 30 September 2015		18,879			18,879
Depreciation
At 1 October 2014		2,090			2,090
Charge for the year		4,198			4,198
At 30 September 2015		6,288			6,288
Net book value
At 30 September 2015		12,591			12,591
At 30 September 2014		4,772			4,772

Page 3

Precise Environmental Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 4