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REGISTERED NUMBER: 10714631 (England and Wales)















Financial Statements for the Year Ended 30th April 2024

for

Precise Racing Limited

Precise Racing Limited (Registered number: 10714631)

Contents of the Financial Statements
for the year ended 30th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Precise Racing Limited

Company Information
for the year ended 30th April 2024







DIRECTOR: E J Evans





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





REGISTERED NUMBER: 10714631 (England and Wales)





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

Precise Racing Limited (Registered number: 10714631)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,287 5,640

CURRENT ASSETS
Debtors 5 88,531 92,397
Cash at bank 242,873 175,090
331,404 267,487
CREDITORS
Amounts falling due within one year 6 137,595 116,477
NET CURRENT ASSETS 193,809 151,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,096

156,650

CREDITORS
Amounts falling due after more than one
year

7

(40,779

)

(47,629

)

PROVISIONS FOR LIABILITIES (1,072 ) (1,410 )
NET ASSETS 156,245 107,611

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 156,145 107,511
SHAREHOLDERS' FUNDS 156,245 107,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Racing Limited (Registered number: 10714631)

Balance Sheet - continued
30th April 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 Racing Limited (Registered number: 10714631)

Notes to the Financial Statements
for the year ended 30th April 2024


1. STATUTORY INFORMATION

Precise Racing 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.

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.

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

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 - 25% on reducing balance

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 Racing Limited (Registered number: 10714631)

Notes to the Financial Statements - continued
for the year ended 30th April 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2023
and 30th April 2024 28,427
DEPRECIATION
At 1st May 2023 22,787
Charge for year 1,353
At 30th April 2024 24,140
NET BOOK VALUE
At 30th April 2024 4,287
At 30th April 2023 5,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,061 3,927
Other debtors and prepayments 76,470 88,470
88,531 92,397

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,850 6,850
Trade creditors 193 -
Taxation and social security 16,200 12,525
Other creditors and accruals 114,352 97,102
137,595 116,477

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,992 14,842
Other creditors 32,787 32,787
40,779 47,629

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director of the company.