IRIS Accounts Production v23.4.0.336 SC383475 director 1.9.22 31.8.23 31.8.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3834752022-08-31SC3834752023-08-31SC3834752022-09-012023-08-31SC3834752021-08-31SC3834752021-09-012022-08-31SC3834752022-08-31SC383475ns15:Scotland2022-09-012023-08-31SC383475ns14:PoundSterling2022-09-012023-08-31SC383475ns10:Director12022-09-012023-08-31SC383475ns10:PrivateLimitedCompanyLtd2022-09-012023-08-31SC383475ns10:SmallEntities2022-09-012023-08-31SC383475ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-31SC383475ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-31SC383475ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-31SC383475ns10:FullAccounts2022-09-012023-08-31SC383475ns10:RegisteredOffice2022-09-012023-08-31SC383475ns5:CurrentFinancialInstruments2023-08-31SC383475ns5:CurrentFinancialInstruments2022-08-31SC383475ns5:ShareCapital2023-08-31SC383475ns5:ShareCapital2022-08-31SC383475ns5:RetainedEarningsAccumulatedLosses2023-08-31SC383475ns5:RetainedEarningsAccumulatedLosses2022-08-31SC383475ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-31SC383475ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-31
REGISTERED NUMBER: SC383475 (Scotland)















Financial Statements for the Year Ended 31 August 2023

for

Precision Inspection Limited

Precision Inspection Limited (Registered number: SC383475)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Precision Inspection Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mr N R Watt





REGISTERED OFFICE: Five Gables
Longhaven
Peterhead
Aberdeenshire
AB42 0PU





REGISTERED NUMBER: SC383475 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Precision Inspection Limited (Registered number: SC383475)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Debtors 4 1,426 10,454
Cash at bank 109,935 66,677
111,361 77,131
CREDITORS
Amounts falling due within one year 5 47,337 41,728
NET CURRENT ASSETS 64,024 35,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,024

35,403

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 64,023 35,402
SHAREHOLDERS' FUNDS 64,024 35,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2024 and were signed by:





Mr N R Watt - Director


Precision Inspection Limited (Registered number: SC383475)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Precision Inspection Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 1,095 10,123
Other debtors 331 331
1,426 10,454

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Taxation and social security 10,535 10,746
Other creditors 36,802 30,982
47,337 41,728

6. RELATED PARTY DISCLOSURES

During the year the director Mr N Watt advanced the company net amounts totalling £34,786. This amount remained outstanding at 31st August 2023 and is included within other creditors in the notes to the accounts.

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N R Watt.