Pavis Financial Management Limited - Period Ending 2014-06-30

Registration number: 02625986

Pavis Financial Management Limited

trading as Pavis Financial Management Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Nabarro Poole Ltd
A Practice of Chartered & Management Accountants
31 Church Road
Northenden
Greater Manchester
M22 4NN

Pavis Financial Management Limited
trading as Pavis Financial Management Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pavis Financial Management Limited
trading as Pavis Financial Management Ltd
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pavis Financial Management Limited for the year ended 30 June 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Pavis Financial Management Limited, as a body, in accordance with the terms of our engagement letter dated 13 December 2006. Our work has been undertaken solely to prepare for your approval the accounts of Pavis Financial Management Limited and state those matters that we have agreed to state to them, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pavis Financial Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pavis Financial Management 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 profit of Pavis Financial Management Limited. You consider that Pavis Financial Management 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 Pavis Financial Management 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.

......................................

Nabarro Poole Ltd
A Practice of Chartered & Management Accountants
31 Church Road
Northenden
Greater Manchester
M22 4NN

11 November 2014

Page 1

Pavis Financial Management Limited
trading as Pavis Financial Management Ltd
(Registration number: 02625986)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					17,765			1,176
Current assets
Debtors					53,769			42,285
Cash at bank and in hand					249,649			124,649
					303,418			166,934
Creditors: Amounts falling due within one year					(108,861)			(46,476)
Net current assets					194,557			120,458
Net assets					212,322			121,634
Capital and reserves
Called up share capital		3			50,080			50,000
Profit and loss account					162,242			71,634
Shareholders' funds					212,322			121,634

For the year ending 30 June 2014 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 11 November 2014 and signed on its behalf by:

......................................... J A Calvert Director ......................................... R A Newton Director

......................................... Q McCormick Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Pavis Financial Management Limited
trading as Pavis Financial Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts received, and receivable, in respect of commissions and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Pavis Financial Management Limited
trading as Pavis Financial Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		49,060			49,060
Additions		18,759			18,759
At 30 June 2014		67,819			67,819
Depreciation
At 1 July 2013		47,884			47,884
Charge for the year		2,170			2,170
At 30 June 2014		50,054			50,054
Net book value
At 30 June 2014		17,765			17,765
At 30 June 2013		1,176			1,176

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary "A" of £1 each		180			180			100			100
Ordinary "B" of £1 each		49,900			49,900			49,900			49,900
		50,080			50,080			50,000			50,000

New shares allotted

During the year 80 Ordinary 'A' share having an aggregate nominal value of £80 were allotted for an aggregate consideration of £nil.

Page 4