Registered number
07899578
Pulse Precision Ltd
Report and Accounts
31 January 2024
Pulse Precision Ltd
Registered number: 07899578
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,106 2,268
Tangible assets 4 3,507 4,676
5,613 6,944
Current assets
Stocks 1,250 2,200
Debtors 5 17,572 12,831
18,822 15,031
Creditors: amounts falling due within one year 6 (21,573) (19,117)
Net current assets/(liabilities) (2,751) (4,086)
Net assets 2,862 2,858
Capital and reserves
Called up share capital 20 20
Profit and loss account 2,842 2,838
Shareholders' funds 2,862 2,858
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
…................................
S O'Donnell
Director
Approved by the board on 3 April 2024
Pulse Precision Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% Reducing balance
Plant and machinery 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 4,050
At 31 January 2024 4,050
Amortisation
At 1 February 2023 1,782
Provided during the year 162
At 31 January 2024 1,944
Net book value
At 31 January 2024 2,106
At 31 January 2023 2,268
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 56,280 5,958 62,238
At 31 January 2024 56,280 5,958 62,238
Depreciation
At 1 February 2023 52,196 5,366 57,562
Charge for the year 1,022 147 1,169
At 31 January 2024 53,218 5,513 58,731
Net book value
At 31 January 2024 3,062 445 3,507
At 31 January 2023 4,084 592 4,676
5 Debtors 2024 2023
£ £
Trade debtors 15,430 11,152
Other debtors 2,142 1,679
17,572 12,831
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,402 12,018
Trade creditors 3,380 761
Directors loan account 786 3,297
Corporation tax 4,457 705
Other taxes and social security costs 48 1,191
Other creditors 500 1,145
21,573 19,117
7 Other information
Pulse Precision Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9
Portway Business Centre
Old Sarum
Wiltshire
SP4 6QX
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