Accounts filed on 30-09-2014

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			Company registration number:06409681
			PULSE CREATIVE LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 30 September 2014

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PULSE CREATIVE LIMITED
BALANCE SHEET
AS AT 30 September 2014
			2014				2013
		Notes	£		£		£		£
FIXED ASSETS
Intangible assets		2			2,000				4,000
Tangible assets		3			318,361				235,165
					320,361				239,165
CURRENT ASSETS
Stocks			57,633				101,802
Debtors			988,500				867,789
Cash at bank and in hand			34,546				71,493
			1,080,679				1,041,084
CREDITORS
Amounts falling due within one year			(919,614)				(1,072,976)
NET CURRENT ASSETS					161,065				(31,892)
TOTAL ASSETS LESS
CURRENT LIABILITIES					481,426				207,273
Creditors falling due after one year					(1,628)				(12,752)
PROVISIONS FOR LIABILITIES					(36,754)				(18,563)
NET ASSETS					443,044				175,958
CAPITAL AND RESERVES
Called-up equity share capital		5			5,000				5,000
Profit and loss account					438,044				170,958
SHAREHOLDERS FUNDS					443,044				175,958
For the year ending 30 September 2014 the company was entitled to exemptio 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 the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 21 January 2015 and signed on its behalf.
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T Carter
21 January 2015
The annexed notes form part of these financial statements.

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PULSE CREATIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents income receivable for goods and services provided in the period, exclusive of Value Added Tax and trade discounts. Revenue from sale of goods is recognised on despatch. Revenue from services is recognised on acceptance of the completion of the work by the

Intangible assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in five equal annual instalments over its estimated economic life of 5 years.

Fixed assets

Depreciation has been computed to write off the cost of fixed assets over their expected useful lives at the following rates:-

Plant and machinery 10% - 20% per annum straight line

Fixtures and fittings 25% per annum straight line

Motor vehicles 25% per annum reducing balance

Land and buildings 25% per annum straight line

Stocks and work In progress

Stocks and work in progress are valued consistently at the lower of cost (on a first in, first out basis) or net realisable value. Cost, where appropriate, includes a proportion of directly attributable overheads.

Leasing

Leasing rentals payable on agreements which transfer substantially all the risk and rewards associated with ownership of the lessee ("finance leases") are capitalised within fixed assets, and the obligation to pay future rentals included in creditors as a liability. The interest charges implicit in such a lease are written off to the profit and loss account in proportion to the balance outstanding during the year. All other leasing rentals ("operating leases") are written off to the profit and loss account over the life of the lease.

Deferred taxation

Deferred tax assets and liabilities have arisen from timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation. Full provision is made for all liabilities, and provision is made for assets to the extent that they are considered more likely than not to be recoverable in the foreseeable future. Provision is made using tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based upon rates enacted at the balance sheet date.

Pension scheme

The company operates a defined contribution pension scheme and pension contributions are charged to the profit and loss account as they fall due.

2.	Intangible fixed assets
				Total
	Cost
	At start of period			10,000
	At end of period			10,000
	Amortisation
	At start of period			6,000
	Provided during the period			2,000
	At end of period			8,000
	Net Book Values
	At start of period			4,000
	At end of period			2,000

3.	Tangible fixed assets
				Total
	Cost
	At start of period			400,363
	Additions			200,552
	Disposals			(10,108)
	At end of period			590,807
	Depreciation
	At start of period			165,198
	Provided during the period			111,762
	On disposals			(4,514)
	At end of period			272,446
	Net Book Value
	At start of period			235,165
	At end of period			318,361

4.

Creditors

Of the creditors due within one year £ 268,876 (2013: £420,204) is secured

Of the creditors due after more than one year £ 1,628 (2013: £12,752) is secured.

5.	Share capital				Allotted, issued and fully paid
					2014	2013
					£	£
	Ordinary shares of £1 each				5,000	5,000
	Total issued share capital				5,000	5,000
6.	Transactions with directors
	The company paid £3,750 (2013: £15,000) to Glenfield Associates, a business controlled by T Carter, a director. The company paid £60,000 (2013: £60,000) to Glenfield Business solutions, a company in which T Carter is a shareholder. All payments were for IT, accountancy, finance and administration support services. Rent of £100,000 (2013: £100,000) was paid to the personal pension scheme of B D Lane and D P Bonser. All of these transactions were on an arms length basis. Included within others debtors is a loan of £nil (2013: £8,985) to K E Mollan, a director. These were the maximum amounts outstanding during each year. The loan is unsecured, interest free and repayable on demand. Two of the directors have given personal guarantees amounting to £60,000 each in respect of certain company borrowings.
7.	Ultimate controlling party
	In the opinion of the directors there is no ultimate controlling party.