Company Registration No. 03397012 (England and Wales)
PROCUREMENT PRESENCE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
PROCUREMENT PRESENCE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PROCUREMENT PRESENCE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,477
1,225
Current assets
Debtors
-
18,000
Cash at bank and in hand
548,342
410,720
548,342
428,720
Creditors: amounts falling due within one year
(95,074)
(91,049)
Net current assets
453,268
337,671
Total assets less current liabilities
455,745
338,896
Provisions for liabilities
-
(245)
455,745
338,651
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
455,743
338,649
Shareholders' funds
455,745
338,651
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 October 2016
Mr K Robinson
Director
Company Registration No. 03397012
PROCUREMENT PRESENCE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% on reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax has not been provided as the directors consider it to be not material.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
15,241
Additions
1,618
At 31 March 2016
16,859
Depreciation
At 1 April 2015
14,016
Charge for the year
366
At 31 March 2016
14,382
Net book value
At 31 March 2016
2,477
At 31 March 2015
1,225
PROCUREMENT PRESENCE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2