Abbreviated Company Accounts - PSYCHABILITY LIMITED

Abbreviated Company Accounts - PSYCHABILITY LIMITED


Registered Number 04851271

PSYCHABILITY LIMITED

Abbreviated Accounts

31 July 2016

PSYCHABILITY LIMITED Registered Number 04851271

Abbreviated Balance Sheet as at 31 July 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 208 262
208 262
Current assets
Debtors 17,089 34,429
Cash at bank and in hand 610 99
17,699 34,528
Creditors: amounts falling due within one year (13,106) (25,414)
Net current assets (liabilities) 4,593 9,114
Total assets less current liabilities 4,801 9,376
Total net assets (liabilities) 4,801 9,376
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,800 9,375
Shareholders' funds 4,801 9,376
  • For the year ending 31 July 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 27 January 2017

And signed on their behalf by:
Mrs S J Warnock, Director

PSYCHABILITY LIMITED Registered Number 04851271

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
These accounts have been prepared under the historical cost convention as
modified by the revaluation of certain fixed assets and in accordance with
the Financial Reporting Standard for Smaller Entities (effective April 2008)

Turnover policy
Turnover is the total amount receivable by the company in the ordinary course of
business from outside customers, for services provided and any goods supplied,
including VAT. The turnover and operating costs are attributable to the principal
activity of the business being that of psychology

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less deprecation. Depreciation is calculated
on the reducing balance method and aims to write down cost less estimated residual
value of all tangible fixed assets over their expected useful lives. The rates are as
follows:-

Computer Equipment 30%
Fixtures and Fittings 15%

Other accounting policies
Stocks and work in progress are valued at the lower of cost and net realisable value
after making due allowance for obsolete and slow-moving stocks. Cost includes all
direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets
£
Cost
At 1 August 2015 5,940
Additions -
Disposals -
Revaluations -
Transfers -
At 31 July 2016 5,940
Depreciation
At 1 August 2015 5,678
Charge for the year 54
On disposals -
At 31 July 2016 5,732
Net book values
At 31 July 2016 208
At 31 July 2015 262