The Precise Design Company Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06638271 (England and Wales)

THE PRECISE DESIGN COMPANY LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R G Wilson

SECRETARY:

R G Wilson

REGISTERED OFFICE:

23B High Street

Cheshunt

EN8 0BS

REGISTERED NUMBER:

06638271 (England and Wales)

ACCOUNTANTS:

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

FIXED ASSETS

Tangible assets

2

5,747

7,663

CURRENT ASSETS

Stocks

15,000

-

Debtors

90,514

123,322

Cash at bank

4,949

2,258

110,463

125,580

CREDITORS

Amounts falling due within one year

88,409

113,761

NET CURRENT ASSETS

22,054

11,819

TOTAL ASSETS LESS CURRENT
LIABILITIES

27,801

19,482

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

27,800

19,481

SHAREHOLDERS' FUNDS

27,801

19,482

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 31 July 2017 and were signed by:

R G Wilson - 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 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.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 November 2015

and 31 October 2016

11,673

DEPRECIATION

At 1 November 2015

4,010

Charge for year

1,916

At 31 October 2016

5,926

NET BOOK VALUE

At 31 October 2016

5,747

At 31 October 2015

7,663

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

1

Ordinary

1