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Registered Number: SC513312
Scotland

 

 

 

PRECISE INSTALLS (STRATHCLYDE) LTD.



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Ltd.
31 August 2024



....................................................

Turner Accountancy Ltd.

101 Park Street

Motherwell
ML1 1PF
29 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 198,407    102,380 
198,407    102,380 
Current assets      
Stocks 31,891    14,311 
Debtors 396,130    602,318 
Cash at bank and in hand 624,631    403,796 
1,052,652    1,020,425 
Creditors: amount falling due within one year (683,969)   (736,774)
Net current assets 368,683    283,651 
 
Total assets less current liabilities 567,090    386,031 
Creditors: amount falling due after more than one year (121,380)   (87,069)
Provisions for liabilities (39,734)   (15,145)
Net assets 405,976    283,817 
 

Capital and reserves
     
Called up share capital 5 6    6 
Profit and loss account 405,970    283,811 
Shareholders' funds 405,976    283,817 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:


-------------------------------
Scott Murphy
Director
-------------------------------
William Walker
Director
2
General Information
PRECISE INSTALLS (STRATHCLYDE) LTD. is a private company, limited by shares, registered in Scotland, registration number SC513312, registration address BLOCK 6, UNIT 17 THIRD ROAD, BLANTYRE GLASGOW, G72 0UP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery 10% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 10% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 17,780    17,780 
Directors Pension Contributions 9,600    9,600 
27,380    27,380 

3.

Average number of employees

Average number of employees during the year was 23 (2023 : 32).
4.

Tangible fixed assets

Cost or valuation Plant and machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2023 19,876    216,688    15,058    17,020    268,642 
Additions 5,910    122,924    3,217    17,888    149,939 
Disposals   (12,498)     (15,449)   (27,947)
At 31 August 2024 25,786    327,114    18,275    19,459    390,634 
Depreciation
At 01 September 2023 7,441    137,486    7,317    14,277    166,521 
Charge for year 2,317    39,852    2,739    3,753    48,661 
On disposals   (9,373)     (13,582)   (22,955)
At 31 August 2024 9,758    167,965    10,056    4,448    192,227 
Net book values
Closing balance as at 31 August 2024 16,028    159,149    8,219    15,011    198,407 
Opening balance as at 01 September 2023 12,435    79,461    7,741    2,743    102,380 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
6 Class A shares of £1.00 each  
 

3