Precise Environmental Ltd - Period Ending 2016-09-30

Registration number: 07704928

Precise Environmental Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

T J Laing
Azalea professional accountants
The Office, Laingsmead Farm
Steeple Road
Mayland
Essex
CM3 6BB

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 Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Precise Environmental Ltd
for the Year Ended 30 September 2016

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 2016 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

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 AAF 2/10 as detailed at icaew.com/compilation. 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.

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

T J Laing
Azalea professional accountants
The Office, Laingsmead Farm
Steeple Road
Mayland
Essex
CM3 6BB

3 December 2016

Page 1

Precise Environmental Ltd
(Registration number: 07704928)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					16,005			12,591
Current assets
Debtors					19,780			3,792
Cash at bank and in hand					83,292			72,684
					103,072			76,476
Creditors: Amounts falling due within one year					(117,702)			(83,761)
Net current liabilities					(14,630)			(7,285)
Net assets					1,375			5,306
Capital and reserves
Called up share capital		3			2			1
Profit and loss account					1,373			5,305
Shareholders' funds					1,375			5,306

For the year ending 30 September 2016 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 3 December 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 2016
......... 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 January 2015).

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

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Precise Environmental Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		18,879			18,879
Additions		8,750			8,750
At 30 September 2016		27,629			27,629
Depreciation
At 1 October 2015		6,288			6,288
Charge for the year		5,336			5,336
At 30 September 2016		11,624			11,624
Net book value
At 30 September 2016		16,005			16,005
At 30 September 2015		12,591			12,591

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			1			1

New shares allotted

During the year 1 Ordinary having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1. issue.

Page 4