Proaxiom (UK) Limited - Limited company - abbreviated - 11.6

PROAXIOM (UK) LIMITED

Abbreviated Unaudited Accounts

for the Year Ended 31st August 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M C Price

M J Woodhouse

S Jones

SECRETARY:

Laytons Secretaries Limited

REGISTERED OFFICE:

Laytons

2 More London Riverside

London

SE1 2AP

REGISTERED NUMBER:

04051765 (England and Wales)

ACCOUNTANTS:

The Priory Partnership

Chartered Accountants

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

FIXED ASSETS

Tangible assets

2

2,932

1,934

CURRENT ASSETS

Debtors

22,960

22,109

Cash at bank

15,000

7,202

37,960

29,311

CREDITORS

Amounts falling due within one year

19,981

15,200

NET CURRENT ASSETS

17,979

14,111

TOTAL ASSETS LESS CURRENT LIABILITIES

20,911

16,045

CAPITAL AND RESERVES

Called up share capital

3

9,500

9,500

Profit and loss account

11,411

6,545

SHAREHOLDERS' FUNDS

20,911

16,045

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

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

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.

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 Board of Directors on 28th May 2015 and were signed on its behalf by:

S Jones - 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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2013

64,773

Additions

2,540

At 31st August 2014

67,313

DEPRECIATION

At 1st September 2013

62,839

Charge for year

1,542

At 31st August 2014

64,381

NET BOOK VALUE

At 31st August 2014

2,932

At 31st August 2013

1,934

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

£

9,500

Ordinary

£1

9,500

9,500

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in administrative expenses is the sum of £6,712 - (2013 - £7,475) in respect of consultancy services paid to Mr M

C Price who is a director of the company.