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REGISTERED NUMBER: 11082096 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Precision Builders Ltd

Precision Builders Ltd (Registered number: 11082096)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Precision Builders Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: A W Gillespie



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 11082096 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: National Westminster Bank Plc
21 Eastgate Street
Gloucester
GL1 1NH

Precision Builders Ltd (Registered number: 11082096)

Statement of Financial Position
30 November 2024

30/11/24 30/11/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,014 103,095

CURRENT ASSETS
Stocks 345,814 158,587
Debtors 5 110,689 83,206
Cash at bank 45,599 136,709
502,102 378,502
CREDITORS
Amounts falling due within one year 6 525,592 390,029
NET CURRENT LIABILITIES (23,490 ) (11,527 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,524

91,568

CREDITORS
Amounts falling due after more than one
year

7

(19,329

)

(69,633

)

PROVISIONS FOR LIABILITIES (16,891 ) (23,712 )
NET ASSETS/(LIABILITIES) 21,304 (1,777 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,204 (1,877 )
SHAREHOLDERS' FUNDS 21,304 (1,777 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Precision Builders Ltd (Registered number: 11082096)

Statement of Financial Position - continued
30 November 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 27 March 2025 and were signed by:





A W Gillespie - Director


Precision Builders Ltd (Registered number: 11082096)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Precision Builders 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Precision Builders Ltd (Registered number: 11082096)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Despite net current liabilities of £23,490 (2023 - £11,527) the director has reviewed future cash flows and expressed his willingness to financially support the company for the foreseeable future and therefore considers it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 December 2023 152,151 11,166 163,317
Additions 1,587 4,365 5,952
At 30 November 2024 153,738 15,531 169,269
Depreciation
At 1 December 2023 54,582 5,640 60,222
Charge for year 24,585 3,448 28,033
At 30 November 2024 79,167 9,088 88,255
Net book value
At 30 November 2024 74,571 6,443 81,014
At 30 November 2023 97,569 5,526 103,095

Precision Builders Ltd (Registered number: 11082096)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 December 2023 73,633 - 73,633
Additions - 1,083 1,083
At 30 November 2024 73,633 1,083 74,716
Depreciation
At 1 December 2023 23,823 - 23,823
Charge for year 12,452 90 12,542
At 30 November 2024 36,275 90 36,365
Net book value
At 30 November 2024 37,358 993 38,351
At 30 November 2023 49,810 - 49,810

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/24 30/11/23
£    £   
Trade debtors 17,423 38,656
Amounts owed by group undertakings 8,012 7,919
Other debtors 85,254 36,631
110,689 83,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/24 30/11/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 16,440 15,791
Trade creditors 241,815 128,907
Taxation and social security 171,456 115,910
Other creditors 85,881 119,421
525,592 390,029

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/24 30/11/23
£    £   
Bank loans 5,000 15,000
Hire purchase contracts 14,329 29,633
Other creditors - 25,000
19,329 69,633

Precision Builders Ltd (Registered number: 11082096)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


8. RELATED PARTY DISCLOSURES

Precision Home Interiors Ltd
A company controlled by the director A W Gillespie

Included in other debtors is a loan to Precision Home Interiors Ltd of £nil (2023 - £18,816). The loan is interest free and has no fixed repayment terms.

Precision Green Energy Solutions Ltd
A company controlled by the director A W Gillespie

Included in other debtors is a loan to Precision Green Energy Solutions Ltd of £84,181 (2023 - £15,915). The loan is interest free and has no fixed repayment terms.

Precision Property Holdings Ltd
The parent company controlled by the director A W Gillespie

Included in other debtors is a loan to Precision Property Holdings Ltd of £8,012 (2023 - £7,919). The loan is interest free and has no fixed repayment terms.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Precision Property Holdings Ltd.

The company is controlled by Precision Property Holdings Ltd, a company controlled by the Director A W Gillespie. Precision Property Holdings Ltd, which shares the same registered office as Precision Builders Ltd, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.