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REGISTERED NUMBER: 12058214 (England and Wales)















Financial Statements for the Year Ended 31st March 2024

for

Precise Property Investments Ltd

Precise Property Investments Ltd (Registered number: 12058214)

Contents of the Financial Statements
for the year ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Precise Property Investments Ltd

Company Information
for the year ended 31st March 2024







DIRECTOR: E J Evans





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 12058214 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Precise Property Investments Ltd (Registered number: 12058214)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 770,000 502,710

CURRENT ASSETS
Debtors 5 52 61
Cash at bank 22,503 44,425
22,555 44,486
CREDITORS
Amounts falling due within one year 6 344,125 307,148
NET CURRENT LIABILITIES (321,570 ) (262,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,430

240,048

CREDITORS
Amounts falling due after more than one
year

7

(109,027

)

(202,687

)

PROVISIONS FOR LIABILITIES (66,823 ) -
NET ASSETS 272,580 37,361

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 200,467 -
Retained earnings 72,013 37,261
SHAREHOLDERS' FUNDS 272,580 37,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Precise Property Investments Ltd (Registered number: 12058214)

Balance Sheet - continued
31st March 2024


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 director and authorised for issue on 26th November 2024 and were signed by:





E J Evans - Director


Precise Property Investments Ltd (Registered number: 12058214)

Notes to the Financial Statements
for the year ended 31st March 2024


1. STATUTORY INFORMATION

Precise Property Investments 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Precise Property Investments Ltd (Registered number: 12058214)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 502,710
Revaluations 267,290
At 31st March 2024 770,000
NET BOOK VALUE
At 31st March 2024 770,000
At 31st March 2023 502,710

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2024 267,290
Cost 502,710
770,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 502,710 502,710

The investment properties were valued on an open market basis on 31st March 2024 by the director of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors and prepayments 52 61

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,560 10,590
Corporation tax 10,829 5,171
Other creditors and accruals 325,736 291,387
344,125 307,148

Precise Property Investments Ltd (Registered number: 12058214)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,560 11,081
Bank loans - 2-5 years 1,890 122,898
Other creditors 99,577 68,708
109,027 202,687

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
Fair value movement 200,467

At 31st March 2024 200,467

10. ULTIMATE CONTROLLING PARTY

The controlling party is E J Evans.