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PRECISION FLOORING SOLUTIONS LTD

Registered Number
12211670
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

PRECISION FLOORING SOLUTIONS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

PEARSON, Adam

Registered Address

60 Fielding Road
Birstall
Leicester
LE4 3AL

Registered Number

12211670 (England and Wales)
PRECISION FLOORING SOLUTIONS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,4007,200
Tangible assets42,9323,498
5,33210,698
Current assets
Debtors524,8799,848
Cash at bank and on hand63,85851,877
88,73761,725
Creditors amounts falling due within one year6(44,144)(57,885)
Net current assets (liabilities)44,5933,840
Total assets less current liabilities49,92514,538
Net assets49,92514,538
Capital and reserves
Called up share capital22
Profit and loss account49,92314,536
Shareholders' funds49,92514,538
The financial statements were approved and authorised for issue by the Director on 27 January 2025, and are signed on its behalf by:
PEARSON, Adam
Director
Registered Company No. 12211670
PRECISION FLOORING SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2324,00024,000
At 30 September 2424,00024,000
Amortisation and impairment
At 01 October 2316,80016,800
Charge for year4,8004,800
At 30 September 2421,60021,600
Net book value
At 30 September 242,4002,400
At 30 September 237,2007,200
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 231,4575,0005166,973
Additions--307307
At 30 September 241,4575,0008237,280
Depreciation and impairment
At 01 October 236082,4404273,475
Charge for year170512191873
At 30 September 247782,9526184,348
Net book value
At 30 September 246792,0482052,932
At 30 September 238492,560893,498
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables18,2795,926
Other debtors6,6003,922
Total24,8799,848
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,0085,799
Taxation and social security7,5457,602
Other creditors29,87143,764
Accrued liabilities and deferred income720720
Total44,14457,885