PMF Associates Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06587493 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 May 2014

for

PMF Associates Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

P Flanagan

REGISTERED OFFICE:

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

REGISTERED NUMBER:

06587493 (England and Wales)

ACCOUNTANTS:

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of PMF Associates Ltd for the year ended 31 May 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and

other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of PMF Associates Ltd in accordance with our terms of engagement. Our work

has been undertaken solely to prepare for your approval the financial statements of PMF Associates Ltd and state those

matters that we have agreed to state to the director of PMF Associates Ltd in this report in accordance with the

requirements of the Association of Chartered Certified Accountants as detailed at

http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that PMF Associates Ltd has kept adequate accounting records and to prepare statutory financial

statements that give a true and fair view of the assets, liabilities, financial position and loss of PMF Associates Ltd. You

consider that PMF Associates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PMF Associates Ltd. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

17 July 2014

FIXED ASSETS

Tangible assets

2

2,432

2,761

CURRENT ASSETS

Debtors

241

7,184

Cash at bank

5

3,514

246

10,698

CREDITORS

Amounts falling due within one year

2,019

10,733

NET CURRENT LIABILITIES

(1,773

)

(35

)

TOTAL ASSETS LESS CURRENT LIABILITIES

659

2,726

PROVISIONS FOR LIABILITIES

-

552

NET ASSETS

659

2,174

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

559

2,074

SHAREHOLDERS' FUNDS

659

2,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 17 July 2014 and were signed by:

P Flanagan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Fixtures, fittings and equipment

-

20% on reducing balance

Deferred tax

Deferred tax arises as a result of the inclusion of income and expenditure in the taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more/(less) tax at a future date, at the average rates of tax

that are expected to apply when the timing differences reverse, based on laws and tax rates currently in force.

The deferred tax thus calculated, is measured on a non-discounted basis.

Deferred tax is not provided on timing differences which arise from the revaluation of fixed assets provided there

is no commitment to sell the relevant assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

5,186

Additions

279

At 31 May 2014

5,465

DEPRECIATION

At 1 June 2013

2,425

Charge for year

608

At 31 May 2014

3,033

NET BOOK VALUE

At 31 May 2014

2,432

At 31 May 2013

2,761

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100