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REGISTERED NUMBER: 03539670 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Precis (1638) Limited

Precis (1638) Limited (Registered number: 03539670)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Precis (1638) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr M A Joyce
Mrs J L Loftus





REGISTERED OFFICE: 3 Park Square
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 03539670 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Precis (1638) Limited (Registered number: 03539670)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 4,342,433 4,206,987

CURRENT ASSETS
Debtors 5 1,361,653 1,929,816
Cash at bank 615,002 504,125
1,976,655 2,433,941
CREDITORS
Amounts falling due within one year 6 533,719 471,043
NET CURRENT ASSETS 1,442,936 1,962,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,785,369

6,169,885

CAPITAL AND RESERVES
Called up share capital 7 3 3
Share premium 8 3 3
Retained earnings 8 5,785,363 6,169,879
SHAREHOLDERS' FUNDS 5,785,369 6,169,885

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 30 July 2024 and were signed on its behalf by:





Mr M A Joyce - Director


Precis (1638) Limited (Registered number: 03539670)

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

1. STATUTORY INFORMATION

Precis (1638) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Valuation of investments
Listed investments held as fixed assets are stated at open market value. In accordance with Financial Reporting Standard 102, any surplus or deficit arising on revaluation of the investments is charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

Precis (1638) Limited (Registered number: 03539670)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. FIXED ASSET INVESTMENTS
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 November 2022 4 4,206,983 4,206,987
Additions - 1,141,546 1,141,546
Disposals - (896,971 ) (896,971 )
Revaluations - (109,129 ) (109,129 )
At 31 October 2023 4 4,342,429 4,342,433
NET BOOK VALUE
At 31 October 2023 4 4,342,429 4,342,433
At 31 October 2022 4 4,206,983 4,206,987

Cost or valuation at 31 October 2023 is represented by:

Shares in
group Listed
undertakings investments Totals
£    £    £   
Valuation in 2023 - 4,342,429 4,342,429
Cost 4 - 4
4 4,342,429 4,342,433

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accrued corporate bond interest 237 1,732
Other debtors 239,189 -
Amounts owed by related undertakings - 400,000
Amounts owed by group undertakings 1,122,227 1,528,084
1,361,653 1,929,816

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 17,498 7,187
Amounts owed to related undertakings 53,500 -
Director's current account 462,721 463,856
533,719 471,043

Precis (1638) Limited (Registered number: 03539670)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3 Ordinary £1 3 3

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 6,169,879 3 6,169,882
Deficit for the year (384,516 ) (384,516 )
At 31 October 2023 5,785,363 3 5,785,366

9. RELATED PARTY DISCLOSURES

Controlling parties

The company is controlled by M A Joyce, director.

Related party transactions and balances


2023 2022
£ £
Amounts owed to Precis (1638) Limited from group undertakings

Ratefield Limited 1,057,907 982,867
JGWCO 178 Limited 64,320 545,217

Total owed by group undertakings 1,122,227 1,528,084


Amounts owed to Precis (1638) Limited from related undertakings

Mowin Investments Limited - 400,000

Total owed by related undertakings - 400,000


Amounts owed from Precis (1638) Limited to related undertakings

The Low Hall Partnership LLP 53,500 -

Total owed to related undertakings 53,500 -


Interest received by Precis (1638) Limited from group undertakings

Ratefield Limited 16,109 17,217
JGWCO 178 Limited - 8,057

Total interest received from group undertakings 16,109 25,274


Precis (1638) Limited (Registered number: 03539670)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mr M A Joyce, director.