Precision Global Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08854070 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Precision Global Consulting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M I Bagheri

Mr D Bagheri

REGISTERED OFFICE:

Thomas House

84 Eccloston Square

London

SW1V 1PX

REGISTERED NUMBER:

08854070 (England and Wales)

FIXED ASSETS

Tangible assets

4

5,263

-

CURRENT ASSETS

Debtors

5

169,097

47,500

Cash at bank

36,714

6,850

205,811

54,350

CREDITORS

Amounts falling due within one year

6

205,201

53,901

NET CURRENT ASSETS

610

449

TOTAL ASSETS LESS CURRENT LIABILITIES

5,873

449

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,773

349

5,873

449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 August 2018 and were signed on its behalf by:

Mr D Bagheri - Director

1.	STATUTORY INFORMATION

Precision Global Consulting Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

7,894

At 31 May 2018

7,894

DEPRECIATION

Charge for year

2,631

At 31 May 2018

2,631

NET BOOK VALUE

At 31 May 2018

5,263

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

53,900

35,200

Amounts owed by participating interests

103,785

-

Other debtors

11,412

12,300

169,097

47,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade creditors

165,801

19,165

Amounts owed to participating interests

-

138

Tax

38

12,466

Social security and other taxes

21,214

14,658

VAT

16,130

-

Other creditors

2,018

-

Accrued expenses

-

7,474

205,201

53,901

7.	RELATED PARTY DISCLOSURES

Precision Global Consulting Limited is wholly owned subsidiary of Precision Global Consulting, Inc.