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REGISTERED NUMBER: 08915177 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PRECISION ATOMICS LTD

PRECISION ATOMICS LTD (REGISTERED NUMBER: 08915177)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRECISION ATOMICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: T P Butler





REGISTERED OFFICE: Future Business Centre
King's Hedges Road
Cambridge
CB4 2HY





REGISTERED NUMBER: 08915177 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

PRECISION ATOMICS LTD (REGISTERED NUMBER: 08915177)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108 216

CURRENT ASSETS
Cash at bank 12,480 953

CREDITORS
Amounts falling due within one year 5 20,586 19,666
NET CURRENT LIABILITIES (8,106 ) (18,713 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,998

)

(18,497

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (7,999 ) (18,498 )
SHAREHOLDERS' FUNDS (7,998 ) (18,497 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





T P Butler - Director


PRECISION ATOMICS LTD (REGISTERED NUMBER: 08915177)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Precision Atomics Ltd 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.

The financial statements have been prepared on a going concern basis. This may not be appropriate because at 28th February 2023 the company's current liabilities exceeded its current assets by £8,106 and total liabilities of the company were £20,586. The company is reliant upon the continued support of its director, bank and creditors, but there is no evidence to suggest that this will not continue and that further funds will not be provided as necessary, to enable the company to continue as a going concern.

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.
Laser and equipment - 33% on cost
Computer equipment - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Laser and Computer
equipment equipment Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 1,283 4,167 5,450
DEPRECIATION
At 1 March 2022 1,283 3,951 5,234
Charge for year - 108 108
At 28 February 2023 1,283 4,059 5,342
NET BOOK VALUE
At 28 February 2023 - 108 108
At 28 February 2022 - 216 216

PRECISION ATOMICS LTD (REGISTERED NUMBER: 08915177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Director's loan account 20,036 19,186
Accruals 550 480
20,586 19,666

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T P Butler