Public Sector Live Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07336036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

Public Sector Live Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S T Brown

Mr P Smith

REGISTERED OFFICE:

31 Southampton Row

London

WC1B 5HJ

REGISTERED NUMBER:

07336036 (England and Wales)

FIXED ASSETS

Intangible assets

5

202,384

192,047

Tangible assets

6

64

85

202,448

192,132

CURRENT ASSETS

Debtors

7

71,043

57,204

Cash at bank

6,435

21,351

77,478

78,555

CREDITORS

Amounts falling due within one year

8

(170,332

)

(115,014

)

NET CURRENT LIABILITIES

(92,854

)

(36,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

109,594

155,673

CREDITORS

Amounts falling due after more than one year

9

-

(25,000

)

NET ASSETS

109,594

130,673

CAPITAL AND RESERVES

Called up share capital

222

222

Share premium

99,945

99,945

Retained earnings

9,427

30,506

SHAREHOLDERS' FUNDS

109,594

130,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 profit or loss 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 May 2019 and were signed on its behalf by:

Mr P Smith - Director

Mr S T Brown - Director

1.	STATUTORY INFORMATION

Public Sector Live Limited is a private company, limited by shares , registered in England and Wales. The

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in

effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a

market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - NIL ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2017

192,047

Additions

32,825

At 31 August 2018

224,872

AMORTISATION

Charge for year

22,488

At 31 August 2018

22,488

NET BOOK VALUE

At 31 August 2018

202,384

At 31 August 2017

192,047

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

and 31 August 2018

2,469

DEPRECIATION

At 1 September 2017

2,384

Charge for year

21

At 31 August 2018

2,405

NET BOOK VALUE

At 31 August 2018

64

At 31 August 2017

85

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

56,225

35,047

Other debtors

14,818

22,157

71,043

57,204

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

4,748

34,213

Taxation and social security

16,801

903

Other creditors

148,783

79,898

170,332

115,014

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

-

25,000