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REGISTERED NUMBER: 08478179 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Precision Creative And Media Ltd

Precision Creative And Media Ltd (Registered number: 08478179)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Precision Creative And Media Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Caldwell-Nichols
S A Ford
M Higgins
Ms S J Bannister
Y Li





REGISTERED OFFICE: 7 Victory Park
Fulcrum 2 Solent Way
Whiteley
Fareham
Hampshire
PO15 7FN





REGISTERED NUMBER: 08478179 (England and Wales)





AUDITORS: Walter Wright
Chartered Accountants
Statutory Auditor
89 High Street
Hadleigh
Ipswich
IP7 5EA

Precision Creative And Media Ltd (Registered number: 08478179)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,614
Tangible assets 5 61,490 81,684
61,490 83,298

CURRENT ASSETS
Stocks 22,653 25,389
Debtors 6 864,195 1,074,999
Cash at bank and in hand 198,564 485,138
1,085,412 1,585,526
CREDITORS
Amounts falling due within one year 7 715,898 1,214,731
NET CURRENT ASSETS 369,514 370,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,004

454,093

CREDITORS
Amounts falling due after more than one
year

8

-

(95,333

)

PROVISIONS FOR LIABILITIES (15,373 ) (7,703 )
NET ASSETS 415,631 351,057

CAPITAL AND RESERVES
Called up share capital 8,442 8,442
Capital redemption reserve 1,558 1,558
Capital contribution reserve 14,440 14,440
Retained earnings 391,191 326,617
SHAREHOLDERS' FUNDS 415,631 351,057

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 Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





S A Ford - Director


Precision Creative And Media Ltd (Registered number: 08478179)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Precision Creative And Media 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

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 etc - 33% on cost, 20% on cost and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Precision Creative And Media Ltd (Registered number: 08478179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Going concern
The company is part of the Precision Marketing Group Holdings Limited group. Cash flows are managed on a group basis with financing provided to individual group companies by way of intercompany loans where required. After making enquiries of the parent company the directors consider that the company will have adequate resources to continue trading for the foreseeable future. For this reason, the going concern basis has been used to prepare the accounts.

Shared based payments
The cost of equity-settled transactions with employees is measured by reference to the fair value at the date at which they are granted and is recognised as an expense over the vesting period. Fair value is determined using an appropriate pricing model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 193,246
AMORTISATION
At 1 April 2023 191,632
Charge for year 1,614
At 31 March 2024 193,246
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,614

Precision Creative And Media Ltd (Registered number: 08478179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 149,763
Additions 2,900
Disposals (3,231 )
At 31 March 2024 149,432
DEPRECIATION
At 1 April 2023 68,079
Charge for year 23,094
Eliminated on disposal (3,231 )
At 31 March 2024 87,942
NET BOOK VALUE
At 31 March 2024 61,490
At 31 March 2023 81,684

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 817,267 1,041,087
Amounts owed by group undertakings - 1,944
Other debtors 46,928 31,968
864,195 1,074,999

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 44,000
Trade creditors 312,925 806,993
Amounts owed to group undertakings 178,573 -
Taxation and social security 26,574 97,791
Other creditors 197,826 265,947
715,898 1,214,731

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 95,333

Precision Creative And Media Ltd (Registered number: 08478179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 139,333

Lloyds Bank PLC has a fixed charge over the assets of the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Brown ACA MAAT (Senior Statutory Auditor)
for and on behalf of Walter Wright

11. GUARANTEES CONTINGENCIES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees, contingencies and commitments at the year end of £11,941 (2023: £33,442).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M Higgins
Balance outstanding at start of year - -
Amounts advanced 5,778 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,778 -

The loan to M Higgins is unsecured and interest free.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption from disclosing transactions with other group companies.

14. ULTIMATE PARENT COMPANY

The largest and smallest group in which the results of the company are consolidated is that headed by Precision Marketing Group Holdings Limited. The consolidated accounts of this company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. No other group accounts includes the results of the company.

The registered office of Precision Marketing Group Holdings Limited is 89 High Street, Hadleigh, Ipswich, IP7 5EA.

Precision Creative And Media Ltd (Registered number: 08478179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. SHARE-BASED PAYMENT TRANSACTIONS

During the year certain directors and employees of the company were granted options over shares of the parent company, Precision Marketing Group Holdings Limited.

The options will vest annually in a straight line over a 4 year period starting on 1 April 2024.

The company recognises an equity-settled share based payment expenses based on the grant date fair value of the options. The expense is recognised on a straight line over the vesting period.