22 May 2023 false No description of principal activity Taxfiler 2024.6 14885781business:PrivateLimitedCompanyLtd2023-05-222024-05-31 148857812023-05-21 148857812023-05-222024-05-31 14885781business:AuditExemptWithAccountantsReport2023-05-222024-05-31 14885781business:FilletedAccounts2023-05-222024-05-31 148857812024-05-31 14885781business:Director12023-05-222024-05-31 14885781business:RegisteredOffice2023-05-222024-05-31 14885781core:WithinOneYear2024-05-31 14885781core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 14885781core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 14885781core:PreviouslyStatedAmount2024-05-31 14885781business:SmallEntities2023-05-222024-05-31 14885781countries:EnglandWales2023-05-222024-05-31 14885781core:PlantMachinery2023-05-222024-05-31 14885781core:MotorVehicles2023-05-222024-05-31 14885781core:ComputerEquipment2023-05-222024-05-31 14885781core:PlantMachinery2023-05-21 14885781core:MotorVehicles2023-05-21 14885781core:ComputerEquipment2023-05-21 14885781core:PlantMachinery2024-05-31 14885781core:MotorVehicles2024-05-31 14885781core:ComputerEquipment2024-05-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
Precision Lithium Limited Company Information for the period from 22 May 2023 to 31 May 2024
Director
Mr M Schooling
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
- 3 -
Precision Lithium Limited Statement of financial position as at 31 May 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
13,489 
Current assets
Debtors
186 
Cash at bank and in hand
3,900 
4,086 
Creditors: amounts falling due within one year
(6,688)
Net current liabilities
(2,602)
Net assets
10,887 
Capital and reserves
Called up share capital
1 
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
- 4 -
Precision Lithium Limited Notes to the Accounts for the period from 22 May 2023 to 31 May 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 22 May 2023
- 
- 
- 
- 
Additions
11,419 
5,200 
290 
16,909 
At 31 May 2024
11,419 
5,200 
290 
16,909 
Depreciation
Charge for the period
2,284 
1,040 
96 
3,420 
At 31 May 2024
2,284 
1,040 
96 
3,420 
Net book value
At 31 May 2024
9,135 
4,160 
194 
13,489 
5
Debtors
2024 
£ 
Amounts falling due within one year
Accrued income and prepayments
186 
- 5 -
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 
Accruals
840 
6,688 
7
Average number of employees
During the period the average number of employees was 1.
- 6 -