PVM Management & Consultancy Limited Filleted accounts for Companies House (small and micro)

PVM MANAGEMENT & CONSULTANCY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09326399

PVM MANAGEMENT & CONSULTANCY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2018

PVM MANAGEMENT & CONSULTANCY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

PVM MANAGEMENT & CONSULTANCY LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	4		494		1,501

Current assets

Debtors	5	4,446	22,389
Cash at bank and in hand		240,035	231,110
		---------	---------
		244,481	253,499

Creditors: amounts falling due within one year	6	32,492		45,983
		---------		---------
Net current assets			211,989		207,516
			---------		---------
Total assets less current liabilities			212,483		209,017
			---------		---------
Net assets			212,483		209,017
			---------		---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	212,383	208,917
	---------	---------
Shareholders funds	212,483	209,017
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 September 2019 , and are signed on behalf of the board by:

Mr P Vassilakakis

Director

Company registration number: 09326399

PVM MANAGEMENT & CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ, United Kingdom.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2018 and 31 December 2018	3,052	3,052
	-------	-------
Depreciation
At 1 January 2018	1,551	1,551
Charge for the year	1,007	1,007
	-------	-------
At 31 December 2018	2,558	2,558
	-------	-------
Carrying amount
At 31 December 2018	494	494
	-------	-------
At 31 December 2017	1,501	1,501
	-------	-------

5. Debtors

	2018	2017
	£	£
Trade debtors	4,446	4,446
Other debtors	–	17,943
	-------	--------
	4,446	22,389
	-------	--------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	1,049	16,432
Social security and other taxes	18,289	20,671
Other creditors	13,154	8,880
	--------	--------
	32,492	45,983
	--------	--------