PORTER - Limited company accounts 17.3

REGISTERED NUMBER: 05735089 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Prosthetics, Orthotics and

Rehabilitation Technology -

Education and Research

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mrs S Sexton

SECRETARY:

S Bondi

REGISTERED OFFICE:

1 Nelson Close

Teignmouth

Devon

TQ14 9NH

REGISTERED NUMBER:

05735089 (England and Wales)

ACCOUNTANTS:

Williams & Company

191 Station Road

Shotts

North Lanarkshire

ML7 4BA

The director presents her report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of education and

prosthetics and orthotics rehabilitation technology.

DIRECTOR

Mrs S Sexton held office during the whole of the period from 1 April 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs S Sexton - Director

19 June 2017

TURNOVER

-

-

Cost of sales

6,250

5,958

GROSS DEFICIT

(6,250

)

(5,958

)

Administrative expenses

1,146

1,153

(7,396

)

(7,111

)

Other operating income

5,747

8,625

OPERATING (DEFICIT)/SURPLUS and

(DEFICIT)/SURPLUS BEFORE TAXATION

3

(1,649

)

1,514

Tax on (deficit)/surplus

-

-

(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR

(1,649

)

1,514

FIXED ASSETS

Tangible assets

4

460

614

CURRENT ASSETS

Stocks

-

800

Debtors

5

351

88

Cash at bank

2,664

2,823

3,015

3,711

CREDITORS

Amounts falling due within one year

6

1,231

432

NET CURRENT ASSETS

1,784

3,279

TOTAL ASSETS LESS CURRENT LIABILITIES

2,244

3,893

RESERVES

Income and expenditure account

2,244

3,893

2,244

3,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 June 2017 and were signed by:

Mrs S Sexton - Director

1.	STATUTORY INFORMATION

Prosthetics, Orthotics and Rehabilitation Technology - Education and Research is a private company, limited by guarantee

, registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

3.	OPERATING (DEFICIT)/SURPLUS

The operating deficit (2016 - operating surplus) is stated after charging:

31.3.17

31.3.16

£

£

Depreciation - owned assets

154

205

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

3,261

DEPRECIATION

At 1 April 2016

2,647

Charge for year

154

At 31 March 2017

2,801

NET BOOK VALUE

At 31 March 2017

460

At 31 March 2016

614

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

351

88

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

787

-

Other creditors

444

432

1,231

432