Precise Placements Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06909818 (England and Wales)

PRECISE PLACEMENTS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Cleaves

P Langhans

REGISTERED OFFICE:

5 Yeomans Court

Ware Road

Hertford

Hertfordshire

SG13 7HJ

REGISTERED NUMBER:

06909818 (England and Wales)

FIXED ASSETS

Tangible assets

2

5,176

7,014

CURRENT ASSETS

Debtors

272,236

96,709

Cash at bank

54,956

84,122

327,192

180,831

CREDITORS

Amounts falling due within one year

3

268,843

143,455

NET CURRENT ASSETS

58,349

37,376

TOTAL ASSETS LESS CURRENT
LIABILITIES

63,525

44,390

CAPITAL AND RESERVES

Called up share capital

4

400

Profit and loss account

63,125

43,990

SHAREHOLDERS' FUNDS

63,525

44,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 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 Board of Directors on 15 December 2016 and were signed on
its behalf by:

D Cleaves - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared on a going concern basis. The use of the going concern basis of

accounting is appropriate because there are no material uncertainties related to events or conditions

that may cast significant doubt about the ability of the company to continue as a going concern.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred 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 June 2015

18,718

Additions

1,872

At 31 May 2016

20,590

DEPRECIATION

At 1 June 2015

11,704

Charge for year

3,710

At 31 May 2016

15,414

NET BOOK VALUE

At 31 May 2016

5,176

At 31 May 2015

7,014

3.

CREDITORS

Creditors include an amount of £ 205,705 (2015 - £ 69,943 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

2016

2015

No.

£

No.

£

Ordinary share of £1 each

100

Ordinary A share of £1 each

100

Ordinary B share of £1 each

100

Ordinary C share of £1 each

100

400