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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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Precis (1638) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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for |
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Precis (1638) Limited |
Precis (1638) Limited (Registered number: 03539670) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Precis (1638) Limited |
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Company Information |
for the Year Ended 31 October 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 Park Square |
Leeds |
LS1 2NE |
Precis (1638) Limited (Registered number: 03539670) |
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Balance Sheet |
31 October 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Share premium | 7 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Precis (1638) Limited (Registered number: 03539670) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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Precis (1638) Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
Precis (1638) Limited (Registered number: 03539670) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 November 2017 |
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3,405,782 |
Additions |
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579,184 |
Disposals |
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Revaluations |
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At 31 October 2018 |
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2,608,535 |
NET BOOK VALUE |
At 31 October 2018 |
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2,608,535 |
At 31 October 2017 |
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3,405,782 |
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Cost or valuation at 31 October 2018 is represented by: |
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Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2018 | - | 2,608,531 | 2,608,531 |
Cost | 4 | - | 4 |
4 | 2,608,531 | 2,608,535 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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2018 | 2017 |
£ | £ |
Aggregate capital and reserves |
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Loss for the year | ( |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Accrued corporate bond interest |
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Sundry debtors | 64,000 | 334,570 |
Amounts owed by group and |
related undertakings | 4,185,117 | 1,776,271 |
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Precis (1638) Limited (Registered number: 03539670) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to related undertakings | 101,500 | - |
Director's current account | 857,766 | 1,639 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 3 | 3 |
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7. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 November 2017 |
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6,137,987 |
Deficit for the year | ( |
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At 31 October 2018 |
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6,097,073 |
Precis (1638) Limited (Registered number: 03539670) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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8. | RELATED PARTY DISCLOSURES |
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Controlling parties |
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The company is controlled by M A Joyce, director. |
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Related party transactions and balances |
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2018 | 2017 |
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Amounts owed to Precis (1638) Limited from group and related undertakings |
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Ratefield Limited | 1,097,643 | 1,081,422 |
JGWCO 178 Limited | 2,687,474 | 294,849 |
Mowin Investments Limited | 400,000 | 400,000 |
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Total owed by group and related undertakings | 4,185,117 | 1,776,271 |
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Amounts owed by Precis (1638) Limited to group and related undertakings |
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MAJ 1989/1 Vol. Sett. Trust | 101,500 | - |
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Total owed to group and related undertakings | 101,500 | - |
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Interest received by Precis (1638) Limited from group and related |
undertakings |
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Ratefield Limited | 16,221 | 8,050 |
JGWCO 178 Limited | 16,498 | 2,195 |
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Total interest received from group and related undertakings | 32,719 | 10,245 |
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Interest paid by Precis (1638) Limited to group and related |
undertakings |
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MAJ 1989/1 Vol. Sett. Trust | 1,500 | - |
Total interest paid to group and related undertakings | 1,500 | - |
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During the year the company received a dividend from Ratefield Limited of £Nil (2017: £Nil). |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is under the ultimate control of Mr M A Joyce, director. |