Company Registration No. 7347688 (England and Wales)
PROFFITT FROM RECORDS MANAGEMENT LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
PROFFITT FROM RECORDS MANAGEMENT LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PROFFITT FROM RECORDS MANAGEMENT LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
28,600
24,403
Current assets
Debtors
2,306
1,920
Cash at bank and in hand
65,984
70,150
68,290
72,070
Creditors: amounts falling due within one year
(29,417)
(23,953)
Net current assets
38,873
48,117
Total assets less current liabilities
67,473
72,520
Creditors: amounts falling due after more than one year
(36,382)
(34,778)
31,091
37,742
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
31,090
37,741
Shareholders' funds
31,091
37,742
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.
Director's 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 director acknowledges her 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 17 June 2016
Ms J Proffitt
Director
Company Registration No. 7347688
PROFFITT FROM RECORDS MANAGEMENT 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 Gross of VAT .
Gross
of VAT
.
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:
Fixtures, fittings & equipment
33.33% Straight Line
Motor vehicles
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
39,093
Additions
38,134
Disposals
(33,355)
At 31 March 2016
43,872
Depreciation
At 1 April 2015
14,690
On disposals
(9,414)
Charge for the year
9,996
At 31 March 2016
15,272
Net book value
At 31 March 2016
28,600
At 31 March 2015
24,403
PROFFITT FROM RECORDS MANAGEMENT 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
1 Ordinary of £1 each
1
1