Company Registration No. 14885781 (England and Wales)
Precision Lithium Limited
Unaudited accounts
for the period from 22 May 2023 to 31 May 2024
Precision Lithium Limited
Unaudited accounts
Contents
Precision Lithium Limited
Company Information
for the period from 22 May 2023 to 31 May 2024
Company Number
14885781 (England and Wales)
Registered Office
Unit 16
Severn Business Park
Rectory Road, Upton-upon-Severn
Worcester
Worcestershire
WR8 0LX
England
Accountants
Turl & Co Ltd
Unit 1, The Park
Spring Lane South
Malvern
Worcestershire
WR14 1AT
Precision Lithium Limited
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
3,900
Creditors: amounts falling due within one year
(6,688)
Net current liabilities
(2,602)
Profit and loss account
10,886
Shareholders' funds
10,887
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 February 2025 and were signed on its behalf by
Mr M Schooling
Director
Company Registration No. 14885781
Precision Lithium Limited
Notes to the Accounts
for the period from 22 May 2023 to 31 May 2024
Precision Lithium Limited is a private company, limited by shares, registered in England and Wales, registration number 14885781. The registered office is Unit 16, Severn Business Park, Rectory Road, Upton-upon-Severn, Worcester, Worcestershire, WR8 0LX, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Computer equipment
33% on cost
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
Additions
11,419
5,200
290
16,909
At 31 May 2024
11,419
5,200
290
16,909
Charge for the period
2,284
1,040
96
3,420
At 31 May 2024
2,284
1,040
96
3,420
At 31 May 2024
9,135
4,160
194
13,489
Amounts falling due within one year
Accrued income and prepayments
186
Precision Lithium Limited
Notes to the Accounts
for the period from 22 May 2023 to 31 May 2024
6
Creditors: amounts falling due within one year
2024
Taxes and social security
536
Loans from directors
5,312
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Average number of employees
During the period the average number of employees was 1.