Registration number:
for the Year Ended
PCM Residential Limited
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PCM Residential Limited
Company Information
Directors |
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Registered office |
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Accountants |
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PCM Residential Limited
Directors' Report for the Year Ended 31 January 2016
The directors present their report and the unaudited financial statements for the year ended 31 January 2016.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board on
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Mr Paul Andrew Mace
Director
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PCM Residential Limited
for the Year Ended 31 January 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PCM Residential Limited for the year ended 31 January 2016 set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of PCM Residential Limited, as a body, in accordance with the terms of our engagement letter dated 18 November 2014 . Our work has been undertaken solely to prepare for your approval the accounts of PCM Residential Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PCM Residential Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PCM Residential Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of PCM Residential Limited. You consider that PCM Residential Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of PCM Residential Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Wisteria Limited
The Grange Barn
Pikes End
Pinner
Middlesex
HA5 2EX
21 October 2016
PCM Residential Limited
Profit and Loss Account for the Year Ended 31 January 2016
Note |
2016
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2015
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Turnover |
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Administrative expenses |
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Operating loss |
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Other interest receivable and similar income |
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Loss on ordinary activities before taxation |
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Tax on loss on ordinary activities |
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Loss for the financial year |
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4
PCM Residential Limited
(Registration number: 08356311)
Balance Sheet at 31 January 2016
Note |
2016
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2015
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
( |
( |
Approved and authorised for issue by the Board on
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Mr Paul Andrew Mace
Director
5
PCM Residential Limited
Notes to the Financial Statements for the Year Ended 31 January 2016
......... continued
Accounting policies |
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis. The directors have confirmed that they will not seek repayment of the amounts owed to them for a period of 12 months from approval of these financial statements if it would prevent the company from meeting its liabilities as they fall due.
Turnover
Deferred tax
Foreign currency
Hire purchase and leasing
Taxation |
The corporation tax charge for the year and prior year was £nil.
Factors that may affect future tax charges
Subject to HMRC approval the company has estimated tax losses available to offset against future taxable profits of £29,198 (2015: £27,738). A deferred tax assset in respect of these losses has not been recognised in these financial statements as the assets will only be recovered in the future once the company achieves a taxable profit.
PCM Residential Limited
Notes to the Financial Statements for the Year Ended 31 January 2016
......... continued
Creditors: Amounts falling due within one year |
2016
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2015
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Reserves |
Profit and loss account
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Total
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At 1 February 2015 |
(27,738) |
(27,738) |
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Loss for the year |
(1,460) |
( |
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At 31 January 2016 |
(29,198) |
(29,198) |
Related party transactions |
During the year the directors charged the company rent of £48,000 (2015: £53,500). Included in other creditors at the balance sheet date is an amount owed to the directors of £3,653 (2015: £458).This balance is interest free and repayable on demand.
Control |
The company is controlled by the directors who own 100% of the called up share capital.