Abbreviated Company Accounts - PROFESSIONAL ACCOUNTING SYSTEMS LIMITED

Abbreviated Company Accounts - PROFESSIONAL ACCOUNTING SYSTEMS LIMITED


Registered Number 00906741

PROFESSIONAL ACCOUNTING SYSTEMS LIMITED

Abbreviated Accounts

30 April 2016

PROFESSIONAL ACCOUNTING SYSTEMS LIMITED Registered Number 00906741

Abbreviated Balance Sheet as at 30 April 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 829 1,579
829 1,579
Current assets
Debtors 130,640 104,127
Cash at bank and in hand 70,676 71,009
201,316 175,136
Creditors: amounts falling due within one year (141,664) (120,208)
Net current assets (liabilities) 59,652 54,928
Total assets less current liabilities 60,481 56,507
Total net assets (liabilities) 60,481 56,507
Capital and reserves
Called up share capital 3 90 90
Other reserves 10 10
Profit and loss account 60,381 56,407
Shareholders' funds 60,481 56,507
  • For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 August 2016

And signed on their behalf by:
I McFarlane, Director

PROFESSIONAL ACCOUNTING SYSTEMS LIMITED Registered Number 00906741

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the invoiced amount of work done stated at net of value added tax.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset, over its expected useful life, as follows:
Office equipment 25% straight line

Other accounting policies
Deferred taxation
Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company’s accounts. Deferred tax is provided in full on all timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current rates and law.
Pensions
Contributions in respect of pension schemes are charged to the profit and loss account for the year in which they are paid.

2Tangible fixed assets
£
Cost
At 1 May 2015 22,440
Additions -
Disposals -
Revaluations -
Transfers -
At 30 April 2016 22,440
Depreciation
At 1 May 2015 20,861
Charge for the year 750
On disposals -
At 30 April 2016 21,611
Net book values
At 30 April 2016 829
At 30 April 2015 1,579
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
90 Ordinary shares of £1 each 90 90