Precis (1638) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03539670 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

PRECIS (1638) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M A Joyce

Mrs J L Loftus

REGISTERED OFFICE:

Central House

47 St. Pauls Street

Leeds

LS12TE

REGISTERED NUMBER:

03539670 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Investments

4

5,043,443

4,920,386

CURRENT ASSETS

Debtors

5

1,493,455

1,315,817

Cash at bank

621,933

605,677

2,115,388

1,921,494

CREDITORS

Amounts falling due within one year

6

(104,213

)

(490,113

)

NET CURRENT ASSETS

2,011,175

1,431,381

TOTAL ASSETS LESS CURRENT LIABILITIES

7,054,618

6,351,767

CAPITAL AND RESERVES

Called up share capital

3

Share premium

3

Retained earnings

7,054,612

6,351,761

SHAREHOLDERS' FUNDS

7,054,618

6,351,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 1 July 2026 and were signed on its behalf by:

Mr M A Joyce - Director

1.	STATUTORY INFORMATION

Precis (1638) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In applying the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The main judgement concerns the likely future demand for the company's products and how that impacts on the carrying value of stock. The director has based his judgement on his considerable experience and understanding of the product and its marketplace.

Turnover

Turnover represents rents receivable, net of value added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Valuation of investments

Listed investments held as fixed assets are stated at open market value. In accordance with Financial Reporting Standard 102, any surplus or deficit arising on revaluation of the investments is charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

Listed

undertakings

investments

Totals

£

COST OR VALUATION

At 1 November 2024

4

4,920,382

4,920,386

Additions

-

1,339,825

Disposals

-

(1,630,445

)

(1,630,445

)

Revaluations

-

413,677

At 31 October 2025

4

5,043,439

5,043,443

NET BOOK VALUE

At 31 October 2025

4

5,043,439

5,043,443

At 31 October 2024

4

4,920,382

4,920,386

Cost or valuation at 31 October 2025 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

Valuation in 2025

-

5,043,439

Cost

4

-

4

5,043,439

5,043,443

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Accrued corporate bond interest

237

Other debtors

150,086

236,691

Amounts owed by group undertakings

1,341,452

1,078,889

Prepayments and accrued income

1,680

-

1,493,455

1,315,817

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Corporation tax

100

-

Amounts owed to related undertakings

53,500

Director's current account

50,613

436,613

104,213

490,113

7.	RELATED PARTY DISCLOSURES

Controlling parties

The company is controlled by M A Joyce, director.

Related party transactions and balances

2025

2024

£

Amounts owed to Precis (1638) Limited from group undertakings

Ratefield Limited

1,079,359

1,073,334

JGWCO 178 Limited

262,093

5,555

Total owed by group undertakings

1,341,452

1,078,889

Amounts owed from Precis (1638) Limited to related undertakings

The Low Hall Partnership LLP

53,500

Total owed to related undertakings

53,500

Interest received by Precis (1638) Limited from group undertakings

Ratefield Limited

16,025

15,427

JGWCO 178 Limited

1,358

1,415

Total interest received from group undertakings

17,383

16,841

During the year the company received a management charge from JGWCO 178 Limited of £144,216 (2024: nil).

During the year the company paid a management charge to JGWCO 178 Limited of £nil (2024: £120,180).

8.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mr M A Joyce, director.