Practive Limited - Accounts to registrar (filleted) - small 18.2
Practive Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| FOR |
| PRACTIVE LIMITED |
| PRACTIVE LIMITED (REGISTERED NUMBER: 04568820) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PRACTIVE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Jardine House |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| PRACTIVE LIMITED (REGISTERED NUMBER: 04568820) |
| BALANCE SHEET |
| 28 FEBRUARY 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 by: |
| PRACTIVE LIMITED (REGISTERED NUMBER: 04568820) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 1. | STATUTORY INFORMATION |
| Practive Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, and have been prepared under the |
| historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial |
| Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. |
| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical |
| accounting estimates. It also requires management to exercise judgement in applying the Company's accounting |
| policies. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of consultancy services supplied during the |
| year on an accruals basis, exclusive of Value Added Tax. Revenue is recognised at the date the services are |
| supplied. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation. Historical |
| cost expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to |
| be capable of operating in the manner intended by management. |
| Financial instruments |
| Financial assets including cash at bank and trade and other debtors are measured initially at transaction price |
| (including transaction costs) subsequently held at cost, less any impairment. |
| Financial liabilities and equity are classifies according to the substance of the financial instrument's contractual |
| obligations, rather than the financial instrument's legal form. Financial liabilities including trade and other |
| creditors as well as bank overdrafts are measured initially at transaction price (including transaction costs) and |
| subsequently held at amortised cost. |
| Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of |
| cash or other consideration expected to be paid or received. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except that |
| a charge attributable to an item of income and expense is recognised as other comprehensive income or to an |
| item recognised directly in equity is also recognised in other comprehensive income or directly in equity |
| respectively. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or |
| substantively enacted by the reporting date in the countries where the Company operates and generates |
| income. |
| PRACTIVE LIMITED (REGISTERED NUMBER: 04568820) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Deferred tax balances are not recognised in respect of permanent differences except in respect of business |
| combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and |
| the future tax deductions available for them and the differences between the fair values of liabilities acquired and |
| the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been |
| enacted or substantively enacted by the reporting date. |
| Operating leases |
| Rentals under operating leases are charged to the Income Statement on a straight line basis over the term of the |
| lease. |
| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line |
| basis over the term of the lease, unless another systematic basis is representative of the time pattern of the |
| lessee's benefit from the use of the leased asset. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension |
| plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been |
| paid the Company has no further payment obligations. |
| The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid |
| are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the |
| Company in independently administered funds. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2018 |
| Additions |
| At 28 February 2019 |
| DEPRECIATION |
| At 1 March 2018 |
| Charge for year |
| At 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| PRACTIVE LIMITED (REGISTERED NUMBER: 04568820) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) |
| 2,487 | 8,200 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2018 |
| Credit to Income Statement during year | ( |
) |
| Balance at 28 February 2019 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary shares | £1 | 2 | 2 |
| A Ordinary shares | £1 | 1 | 1 |
| B Ordinary shares | £1 | 1 | 1 |
| 4 | 4 |