REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Precis (1638) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Precis (1638) Limited |
Precis (1638) Limited (Registered number: 03539670) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Precis (1638) Limited |
Company Information |
for the Year Ended 31 October 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Park Square |
Leeds |
LS1 2NE |
Precis (1638) Limited (Registered number: 03539670) |
Balance Sheet |
31 October 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Precis (1638) Limited (Registered number: 03539670) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Precis (1638) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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 (2021 - NIL). |
Precis (1638) Limited (Registered number: 03539670) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 November 2021 | 2,381,885 |
Additions | 3,244,125 |
Disposals | ( |
) | (747,055 | ) |
Revaluations | ( |
) | (671,968 | ) |
At 31 October 2022 | 4,206,987 |
NET BOOK VALUE |
At 31 October 2022 | 4,206,987 |
At 31 October 2021 | 2,381,885 |
Cost or valuation at 31 October 2022 is represented by: |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2022 | - | 4,206,983 | 4,206,983 |
Cost | 4 | - | 4 |
4 | 4,206,983 | 4,206,987 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Accrued corporate bond interest |
Amounts owed by related undertakings | 400,000 | 400,000 |
Amounts owed by group undertakings | 1,528,084 | 3,184,942 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Corporation tax |
Amounts owed to related undertakings |
Director's current account | 463,856 | 517,255 |
Precis (1638) Limited (Registered number: 03539670) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 3 | 3 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 November 2021 | 6,755,943 |
Deficit for the year | ( |
) | ( |
) |
At 31 October 2022 | 6,169,882 |
Precis (1638) Limited (Registered number: 03539670) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
9. | RELATED PARTY DISCLOSURES |
Controlling parties |
The company is controlled by M A Joyce, director. |
Related party transactions and balances |
2022 | 2021 |
£ | £ |
Amounts owed to Precis (1638) Limited from group undertakings |
Ratefield Limited | 982,867 | 1,147,782 |
JGWCO 178 Limited | 545,217 | 2,037,160 |
Total owed by group undertakings | 1,528,084 | 3,184,942 |
Amounts owed to Precis (1638) Limited from related undertakings |
Mowin Investments Limited | 400,000 | 400,000 |
Total owed by related undertakings | 400,000 | 400,000 |
Amounts owed by Precis (1638) Limited to related undertakings |
York Two Limited | - | 121,240 |
Total owed to related undertakings | - | 121,240 |
Interest received by Precis (1638) Limited from group undertakings |
Ratefield Limited | 17,217 | 16,962 |
JGWCO 178 Limited | 8,057 | 30,106 |
Total interest received from group undertakings | 25,274 | 47,068 |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the ultimate control of Mr M A Joyce, director. |