| Precision Rentals Limited |
| Registered number: |
16287044 |
| Balance Sheet |
| as at 31 March 2026 |
|
| Notes |
|
|
2026 |
|
| £ |
|
| Fixed assets |
| Investments |
3 |
|
|
125,119 |
|
| Current assets |
| Debtors |
4 |
|
3,623 |
| Cash at bank and in hand |
|
|
9,996 |
|
|
|
13,619 |
|
|
|
| Creditors: amounts falling due within one year |
5 |
|
(52,837) |
|
| Net current liabilities |
|
|
|
(39,218) |
|
|
| Total assets less current liabilities |
|
|
|
85,901 |
|
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(85,760) |
|
|
|
| Net assets |
|
|
|
141 |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
| Profit and loss account |
|
|
|
41 |
|
| Shareholders' funds |
|
|
|
141 |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| D M Green |
| Director |
| Approved by the board on 12 August 2026 |
|
| Precision Rentals Limited |
| Notes to the Accounts |
| for the period from 3 March 2025 to 31 March 2026 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. |
|
|
Investment properties |
|
Investment properties are revalued annually by the directors. The revaluation surplus / deficit is credited / charged directly to the profit and loss account in accordance with the provisions of FRS102. |
|
|
Deferred tax is provided on the cumulative revaluation surplus. |
|
|
The cumulative revaluation gain, net of the deferred tax thereon, is credited to the profit and loss reserve in the balance sheet. The cumulative revaluation gain is a non-distributable reserve. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2026 |
|
| Number |
|
|
|
Average number of persons employed by the company |
2 |
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| investment |
| properties |
| £ |
|
Cost |
|
Additions |
125,119 |
|
|
At 31 March 2026 |
125,119 |
|
|
| 4 |
Debtors |
2026 |
|
| £ |
|
|
|
Other debtors |
3,623 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
| £ |
|
|
|
Bank loans and overdrafts |
1,166 |
|
Other creditors |
51,671 |
|
|
|
|
|
|
52,837 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2026 |
|
| £ |
|
|
|
Bank loans |
85,760 |
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2026 |
|
| £ |
|
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
81,097 |
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Precision Rentals Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
6A Little Aston Lane |
|
Little Aston |
|
Sutton Coldfield |
|
B74 3UF |