Abbreviated Company Accounts - PANACEA WORKFLOW SYSTEMS LIMITED

PANACEA WORKFLOW SYSTEMS LIMITED - Company Information

03563603 PANACEA WORKFLOW SYSTEMS LIMITED 2014-05-31 false 2013-06-01 2014-05-31 true 03563603 2013-06-01 2014-05-31 03563603 2014-05-31 03563603 2013-05-31 03563603 uk-gaap-cd-bus:Director1 2013-06-01 2014-05-31 03563603 uk-gaap-cd-bus:Director2 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-31 iso4217:GBP shares

Registered Number 03563603

PANACEA WORKFLOW SYSTEMS LIMITED

Abbreviated Accounts

31 May 2014

PANACEA WORKFLOW SYSTEMS LIMITED Registered Number 03563603

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	14,882	11,711
Investments		-	-
		14,882	11,711
Current assets
Stocks		-	-
Debtors		702,390	479,097
Investments		-	-
Cash at bank and in hand		629,498	325,458
		1,331,888	804,555
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(456,113)	(269,267)
Net current assets (liabilities)		875,775	535,288
Total assets less current liabilities		890,657	546,999
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		890,657	546,999
Capital and reserves
Called up share capital	3	100	100
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		890,557	546,899
Shareholders' funds		890,657	546,999

For the year ending 31 May 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 27 February 2015

And signed on their behalf by:
A Perott, Director

PANACEA WORKFLOW SYSTEMS LIMITED Registered Number 03563603

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment 20% Redusing balance
Fixtures, fittings & equipment 25% Redusing balance

Other accounting policies
Foreign currency transaction

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreig currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 June 2013	68,756
Additions	6,891
Disposals	0
Revaluations	0
Transfers	0
At 31 May 2014	75,647
Depreciation
At 1 June 2013	57,045
Charge for the year	3,720
On disposals	-
At 31 May 2014	60,765
Net book values
At 31 May 2014	14,882
At 31 May 2013	11,711

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100