Abbreviated Company Accounts - PMS BOOKSHOP LIMITED

PMS BOOKSHOP LIMITED - Company Information

Registered Number 02663410

PMS BOOKSHOP LIMITED

Abbreviated Accounts

31 December 2014

PMS BOOKSHOP LIMITED Registered Number 02663410

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	3,856	4,024
Investments		-	-
		3,856	4,024
Current assets
Stocks		21,656	30,099
Debtors		622	657
Investments		-	-
Cash at bank and in hand		150	5,351
		22,428	36,107
Prepayments and accrued income		5,671	-
Creditors: amounts falling due within one year		(5,744)	(1,475)
Net current assets (liabilities)		22,355	34,632
Total assets less current liabilities		26,211	38,656
Creditors: amounts falling due after more than one year		(50,083)	(60,083)
Total net assets (liabilities)		(23,872)	(21,427)
Capital and reserves
Called up share capital		2	2
Revaluation reserve		20,000	37,508
Other reserves		(21,429)	(37,508)
Profit and loss account		(22,445)	(21,429)
Shareholders' funds		(23,872)	(21,427)

For the year ending 31 December 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 2 February 2015

And signed on their behalf by:
Andrew Ostaszewski, Director
Marek Jakubowski, Director

PMS BOOKSHOP LIMITED Registered Number 02663410

Notes to the Abbreviated Accounts for the period ended 31 December 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.

Other accounting policies
PMS Bookshop has agreed to pay from 1/1/2001 to the Polish Educational Society the current market rate of interest for long term payable. Currently 2% (2%-2013) is payable based on the average of the amount payable at the start and end of the 2014 financial year.
From 1/1/2014, £20,000 from the loan due to PMS was reduced to reflect the change of PMS Bookshop operational strategy to focus on 'sale and return' operations, with the decision not to purchase any further books outright. PMS made a new loan of £30,000 to support PMS Bookshop operations in 2014.

2Tangible fixed assets

	£
Cost
At 1 January 2014	20,953
Additions	0
Disposals	0
Revaluations	-
Transfers	-
At 31 December 2014	20,953
Depreciation
At 1 January 2014	16,929
Charge for the year	168
On disposals	-
At 31 December 2014	17,097
Net book values
At 31 December 2014	3,856
At 31 December 2013	4,024