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REGISTERED NUMBER: 01609626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRECISION PERIPHERALS LIMITED

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRECISION PERIPHERALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Richards
M H Richards
J D Richards





SECRETARY: M H Richards





REGISTERED OFFICE: Unit B7 Ashmount Business Park
Upper Fforest Way
Swansea Enterprise Park
Swansea
SA6 8QR





REGISTERED NUMBER: 01609626 (England and Wales)

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,352 85,202
Investments 5 481,950 481,950
533,302 567,152

CURRENT ASSETS
Stocks 130,490 130,387
Debtors 6 283,620 332,566
Cash at bank 23,785 65,311
437,895 528,264
CREDITORS
Amounts falling due within one year 7 356,619 412,217
NET CURRENT ASSETS 81,276 116,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,578

683,199

CREDITORS
Amounts falling due after more than one
year

8

255,880

218,953
NET ASSETS 358,698 464,246

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 348,698 454,246
SHAREHOLDERS' FUNDS 358,698 464,246

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

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

The directors acknowledge their 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 PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

BALANCE SHEET - continued
31 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





J D Richards - Director


PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Precision Peripherals Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office is Unit B7 Ashmount Business Park, Upper Fforest Way, Swansea Enterprise Park, Swansea SA6 8QR.

The principal activity of the company was that of the renovation service and maintenance of computer printers and micro computer systems.

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.

The presentation currency of the financial statements is GBP Sterling (£).

Going concern
The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services rendered, net of discounts and rebates allowed by the company and excluding value added tax or any other sales tax, having regard to the fulfilment of contractual obligations.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.Depreciation on tangible fixed assets is charged to profit or loss so as to write off their value, over their estimated useful lives, as below:

Motor vehicles - 33% on reducing balance
Plant and machinery etc - 25% on cost and 25% on reducing balance
Fixture and Fittings - 25% on reducing balance

At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication of impairment. Any impairment is charged to profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. All other leases are classified as operating leases.

Assets held under finance leases are recognised initially at the fair value of the leased asset at the inception of the lease. The corresponding liability to the lessor is recognised within finance lease obligations. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest rate method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charge to profit and loss.

Assets held under finance leases and hire purchase contracts are included in tangible assets and depreciated and assessed for impairment losses in accordance with the stated policy for tangible assets.

Rentals payable under operating leases are charged to profit and loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense and
credited to profit and loss on a straight-line basis over the lease term.

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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The accounting estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The accounting estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial assets and liabilities
Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost
less impairment losses for bad and doubtful debts.

Loans receivable are measured initially at fair value, net of transaction costs, and non-current loans receivable are subsequently remeasured to amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 221,074 35,091 155,679 411,844
Disposals - - (32,250 ) (32,250 )
At 31 March 2024 221,074 35,091 123,429 379,594
DEPRECIATION
At 1 April 2023 175,864 35,077 115,701 326,642
Charge for year 11,302 14 8,590 19,906
Eliminated on disposal - - (18,306 ) (18,306 )
At 31 March 2024 187,166 35,091 105,985 328,242
NET BOOK VALUE
At 31 March 2024 33,908 - 17,444 51,352
At 31 March 2023 45,210 14 39,978 85,202

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 22,950
Disposals (11,950 )
At 31 March 2024 11,000
DEPRECIATION
At 1 April 2023 7,572
Charge for year 2,432
Eliminated on disposal (3,944 )
At 31 March 2024 6,060
NET BOOK VALUE
At 31 March 2024 4,940
At 31 March 2023 15,378

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 481,950
NET BOOK VALUE
At 31 March 2024 481,950
At 31 March 2023 481,950

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 244,005 192,132
Amounts owed by group undertakings 37,113 128,719
Other debtors 2,502 11,715
283,620 332,566

PRECISION PERIPHERALS LIMITED (REGISTERED NUMBER: 01609626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 956 8,675
Trade creditors 157,797 293,773
Amounts owed to group undertakings 29,036 -
Taxation and social security 21,102 17,083
Other creditors 147,728 92,686
356,619 412,217

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts - 2,573
Other creditors 255,880 216,380
255,880 218,953