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REGISTERED NUMBER: 03130963 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Precision Card Services Limited

Precision Card Services Limited (Registered number: 03130963)






Contents of the Financial Statements
for the year ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Precision Card Services Limited

Company Information
for the year ended 30 April 2023







DIRECTORS: M W Keating
P Doran





REGISTERED OFFICE: Redwood Court
Tytherington Business Park
Macclesfield
Cheshire
SK10 2XH





REGISTERED NUMBER: 03130963 (England and Wales)





ACCOUNTANTS: Bexons
Chartered Accountants
24 Rectory Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6BG

Precision Card Services Limited (Registered number: 03130963)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,708 88,828
Tangible assets 5 497,442 449,038
563,150 537,866

CURRENT ASSETS
Stocks 739,914 496,745
Debtors 6 1,108,360 987,271
Cash at bank 99,189 51,765
1,947,463 1,535,781
CREDITORS
Amounts falling due within one year 7 1,164,871 1,058,041
NET CURRENT ASSETS 782,592 477,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,345,742

1,015,606

PROVISIONS FOR LIABILITIES 97,462 62,040
NET ASSETS 1,248,280 953,566

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 1,248,277 953,563
SHAREHOLDERS' FUNDS 1,248,280 953,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Precision Card Services Limited (Registered number: 03130963)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 October 2023 and were signed on its behalf by:




M W Keating - Director



P Doran - Director


Precision Card Services Limited (Registered number: 03130963)

Notes to the Financial Statements
for the year ended 30 April 2023

1. STATUTORY INFORMATION

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

Turnover
Turnover represents net invoiced sales of goods and services, and the value of work done during the period, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 20% on reducing balance
Fixtures and fittings - 20% 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.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Precision Card Services Limited (Registered number: 03130963)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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 37 (2022 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2022
and 30 April 2023 143,603
AMORTISATION
At 1 May 2022 54,775
Charge for year 23,120
At 30 April 2023 77,895
NET BOOK VALUE
At 30 April 2023 65,708
At 30 April 2022 88,828

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 192,779 3,045,610 54,430 36,663 3,329,482
Additions - 160,615 - - 160,615
At 30 April 2023 192,779 3,206,225 54,430 36,663 3,490,097
DEPRECIATION
At 1 May 2022 155,225 2,660,747 49,731 14,741 2,880,444
Charge for year 9,714 97,338 940 4,219 112,211
At 30 April 2023 164,939 2,758,085 50,671 18,960 2,992,655
NET BOOK VALUE
At 30 April 2023 27,840 448,140 3,759 17,703 497,442
At 30 April 2022 37,554 384,863 4,699 21,922 449,038

Precision Card Services Limited (Registered number: 03130963)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,003,717 850,465
Other debtors 67,380 34,312
VAT - 78,792
Prepayments and accrued income 37,263 23,702
1,108,360 987,271

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 100,000
Trade creditors 681,307 561,471
Tax 112,667 116,954
Social security and other taxes 209,044 23,174
Other creditors 10,776 104,631
Directors' current accounts 7,533 126,932
Accruals and deferred income 143,544 24,879
1,164,871 1,058,041

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 100,000

9. OTHER FINANCIAL COMMITMENTS

As at 30 April 2023 the company had the following commitments under non-cancellable operating leases:
20232022
Expiring in££
Two to five years249,500374,200