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Company Registration No. 11380418 (England and Wales)
Precision Painting & Decorating (IOW) Ltd Unaudited accounts for the year ended 31 May 2026
Precision Painting & Decorating (IOW) Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Precision Painting & Decorating (IOW) Ltd Company Information for the year ended 31 May 2026
Directors
Wayne Jones Matthew Mew
Company Number
11380418 (England and Wales)
Registered Office
Fern Cottage Camp Road Freshwater Isle of Wight PO40 9HZ
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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Precision Painting & Decorating (IOW) Ltd Statement of financial position as at 31 May 2026
2026 
2025 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
962 
1,487 
Current assets
Inventories
6,206 
9,942 
Debtors
5
6,733 
17,249 
Cash at bank and in hand
20,724 
31,080 
33,663 
58,271 
Creditors: amounts falling due within one year
6
(19,263)
(32,772)
Net current assets
14,400 
25,499 
Net assets
15,362 
26,986 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
15,352 
26,976 
Shareholders' funds
15,362 
26,986 
For the year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2026 and were signed on its behalf by
Wayne Jones Director Company Registration No. 11380418
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Precision Painting & Decorating (IOW) Ltd Notes to the Accounts for the year ended 31 May 2026
1
Statutory information
Precision Painting & Decorating (IOW) Ltd is a private company, limited by shares, registered in England and Wales, registration number 11380418. The registered office is Fern Cottage, Camp Road, Freshwater, Isle of Wight, PO40 9HZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2025
2,100 
At 31 May 2026
2,100 
Depreciation
At 1 June 2025
613 
Charge for the year
525 
At 31 May 2026
1,138 
Net book value
At 31 May 2026
962 
At 31 May 2025
1,487 
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Precision Painting & Decorating (IOW) Ltd Notes to the Accounts for the year ended 31 May 2026
5
Debtors
2026 
2025 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,592 
16,339 
Accrued income and prepayments
141 
910 
6,733 
17,249 
6
Creditors: amounts falling due within one year
2026 
2025 
£ 
£ 
Bank loans and overdrafts
- 
4,000 
VAT
2,809 
5,493 
Trade creditors
3,384 
3,798 
Taxes and social security
4,071 
7,258 
Other creditors
8,362 
6,759 
Loans from directors
637 
5,464 
19,263 
32,772 
7
Average number of employees
During the year the average number of employees was 2 (2025: 2).
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