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REGISTERED NUMBER: 04852446 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PRECISE MANAGED SERVICES LIMITED

PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRECISE MANAGED SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: J Ragsdale





REGISTERED OFFICE: 35 Greenlands Business Centre
Studley Road
Redditch
Worcestershire
B98 7HD





REGISTERED NUMBER: 04852446 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 1,378 1,838
Investments 6 1 1
1,379 1,839

CURRENT ASSETS
Debtors 7 100,777 134,597
Cash at bank 8,028 34,631
108,805 169,228
CREDITORS
Amounts falling due within one year 8 82,894 139,568
NET CURRENT ASSETS 25,911 29,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,290

31,499

CREDITORS
Amounts falling due after more than one
year

9

26,967

31,982
NET ASSETS/(LIABILITIES) 323 (483 )

CAPITAL AND RESERVES
Called up share capital 10 600 600
Capital redemption reserve 400 400
Retained earnings (677 ) (1,483 )
SHAREHOLDERS' FUNDS 323 (483 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 May 2025 and were signed by:





J Ragsdale - Director


PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)

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

1. STATUTORY INFORMATION

Precise Managed Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

Significant judgements and estimates
In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

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.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are initially recorded at cost.

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

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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

PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)

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

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable by the company are charged to profit or loss in the period to which they relate.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 11,253
DEPRECIATION
At 1 September 2023 9,415
Charge for year 460
At 31 August 2024 9,875
NET BOOK VALUE
At 31 August 2024 1,378
At 31 August 2023 1,838

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 1
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 99,315 123,859
Other debtors - 5,429
Prepayments and accrued income 1,462 5,309
100,777 134,597

PRECISE MANAGED SERVICES LIMITED (REGISTERED NUMBER: 04852446)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,932 4,932
Trade creditors 48,637 109,529
Taxation and social security 10,927 3,900
Other creditors 11,786 10,286
Accruals and deferred income 6,612 10,921
82,894 139,568

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan - 1 to 2 years 4,932 4,932
Bank loan - 2 to 5 years 14,796 14,796
Bank loan - over 5 years 7,239 12,254
26,967 31,982

Amounts falling due in more than five years:

Repayable by instalments
Bank loan - over 5 years 7,239 12,254

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 Ordinary £1 600 600