Proventus UK Ltd

Proventus UK Ltd

PROVENTUS (UK) LTD - Company Information

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Proventus UK Ltd
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Registered number: 06764444
Proventus UK Ltd
Abbreviated accounts
For The Year Ended 31 December 2013
Proventus UK Ltd
Company No. 06764444
Abbreviated Balance Sheet 31 December 2013
Abbreviated Balance Sheet
2013 2012
Notes £ £ £ £
FIXED ASSETS
Tangible assets 2 126,071 131,097
Investments 3 4,764 9,528
130,835 140,625
CURRENT ASSETS
Stocks 305,169 220,607
Debtors 4 517,467 350,981
Cash at bank and in hand 529,813 272,973
1,352,449 844,561
Creditors: Amounts Falling Due Within One Year (353,110) (275,086)
NET CURRENT ASSETS (LIABILITIES) 999,339 569,475
TOTAL ASSETS LESS CURRENT LIABILITIES 1,130,174 710,100
Creditors: Amounts Falling After More Than One Year 5 - (4,764)
NET ASSETS 1,130,174 705,336
CAPITAL AND RESERVES
Called up share capital 6 99 99
Profit and Loss account 1,130,075 705,237
SHAREHOLDERS' FUNDS 1,130,174 705,336
Page 1
Proventus UK Ltd
Company No. 06764444
Abbreviated Balance Sheet (continued) 31 December 2013
For the year ending 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities
  • The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Ranjit Panesar
20/06/2014
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Proventus UK Ltd
Notes to the Abbreviated Accounts
For The Year Ended 31 December 2013
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
 
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
 
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible Fixed Assets and Depreciation
 
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
 
Plant & Machinery Straight Line 20%
Motor Vehicles Straight Line 20%
Fixtures & Fittings Straight Line 20%
Computer Equipment Straight Line 20%
Leasing and Hire Purchase Contracts
 
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Stocks and Work in Progress
 
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Proventus UK Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 December 2013
Tangible Assets
Total
Cost £
As at 1 January 2013 227,092
Additions 37,015
As at 31 December 2013 264,107
Depreciation
As at 1 January 2013 95,995
Provided during the period 42,041
As at 31 December 2013 138,036
Net Book Value
As at 31 December 2013 126,071
As at 1 January 2013 131,097
Investments
Other
£
Cost
As at 1 January 2013 9,528
Additions (4,764)
As at 31 December 2013 4,764
Provision
As at 1 January 2013 -
As at 31 December 2013 -
Net Book Value
As at 31 December 2013 4,764
As at 1 January 2013 9,528
Debtors
Debtors include an amount of £ 247,940 (2012 - £ 191,000 ) falling due after more than one year.
Creditors: Amounts Falling After More Than One Year
  2013 2012
£ £
Net obligations under finance lease and hire purchase contracts - 4,764
Page 4
Proventus UK Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 December 2013
Share Capital
 
Value Number 2013 2012
Allotted, called up and fully paid: £ £ £
Ordinary shares 1.000 99 99 99
 
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