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Registered Number: 09276312
England and Wales

 

 

 

PRECISION REAL ESTATE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 72,000    72,000 
72,000    72,000 
Current assets      
Debtors 4 2    2 
Cash at bank and in hand   2,276 
2    2,278 
Creditors: amount falling due within one year 5 (554,130)   (554,219)
Net current assets (554,128)   (551,941)
 
Total assets less current liabilities (482,128)   (479,941)
Net assets (482,128)   (479,941)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (482,228)   (480,041)
Shareholders' funds (482,128)   (479,941)
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 October 2024 and were signed on its behalf by:


-------------------------------
Nikhil Nilin JOSHI
Director
1
General Information
Precision Real Estate Limited is a private company, limited by shares, registered in England and Wales, registration number 09276312, registration address 2 Leman Street, London United Kingdom, E1W 9US.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 November 2022 72,000    72,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 October 2023 72,000    72,000 

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 2    2 
2    2 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   2,255 
Corporation Tax   100 
Accrued Expenses 4,520    4,200 
Other Creditors 549,610    547,664 
554,130    554,219 

6.

Related Party

As at the year end the company owed £549,610 (2022 £547,664) to the directors of the company.
2