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REGISTERED NUMBER: 06379814 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PRECISION CONTRACTORS LIMITED

PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRECISION CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr M C Chapman
Ms C L Nicholls





REGISTERED OFFICE: 245 Upton Road South
Bexley
Kent
DA5 1QU





REGISTERED NUMBER: 06379814 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co
Chartered Certified Accountants
4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL

PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 174,610 67,443
174,610 67,443

CURRENT ASSETS
Stocks & Work In Progress 358,000 25,000
Debtors 6 87,396 318,213
Cash at bank 13 3,315
445,409 346,528
CREDITORS
Amounts falling due within one year 7 325,357 296,304
NET CURRENT ASSETS 120,052 50,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

294,662

117,667

CREDITORS
Amounts falling due after more than one
year

8

195,438

85,090
NET ASSETS 99,224 32,577

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 99,124 32,477
SHAREHOLDERS' FUNDS 99,224 32,577

PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





Mr M C Chapman - Director


PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Precision Contractors 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 and 10% on reducing balance

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

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.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 5,000
AMORTISATION
At 1 October 2023
and 30 September 2024 5,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 207,385
Additions 137,809
At 30 September 2024 345,194
DEPRECIATION
At 1 October 2023 139,942
Charge for year 30,642
At 30 September 2024 170,584
NET BOOK VALUE
At 30 September 2024 174,610
At 30 September 2023 67,443

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,870 299,687
Other Debtors 56,526 18,526
87,396 318,213

PRECISION CONTRACTORS LIMITED (REGISTERED NUMBER: 06379814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank Overdrafts 13,666 -
Hire purchase contracts 15,253 24,258
Trade creditors 55,049 50,997
Taxation and social security 48,776 127,533
Other creditors 192,613 93,516
325,357 296,304

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 87,101 4,939
Other creditors 108,337 80,151
195,438 85,090