PVM Consultants Limited - Period Ending 2022-04-30

PVM Consultants Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

PVM Consultants Limited

Balance Sheet

30 April 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	1,470	846
Current assets
Debtors	5	8,670	24,146
Cash at bank and in hand		38,628	31,227
		47,298	55,373
Creditors: Amounts falling due within one year	6	(5,169)	(6,140)
Net current assets		42,129	49,233
Net assets		43,599	50,079
Capital and reserves
Called up share capital	7	50	50
Capital redemption reserve		50	50
Profit and loss account		43,499	49,979
Shareholders' funds		43,599	50,079

PVM Consultants Limited

Balance Sheet

30 April 2022

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 June 2022
 

......................................... Mr P McIntosh Director

Company Registration Number: 06576484

PVM Consultants Limited

Notes to the Financial Statements

Year Ended 30 April 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principle place of business is:
Unit 31
Carluddon Technology Park
ST AUSTELL
Cornwall
PL26 8WE

These financial statements were authorised for issue by the director on 24 June 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for services provided during the year.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

PVM Consultants Limited

Notes to the Financial Statements

Year Ended 30 April 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2021 - 3).

PVM Consultants Limited

Notes to the Financial Statements

Year Ended 30 April 2022

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2021	2,247	2,247
Additions	992	992
At 30 April 2022	3,239	3,239
Depreciation
At 1 May 2021	1,401	1,401
Charge for the year	368	368
At 30 April 2022	1,769	1,769
Carrying amount
At 30 April 2022	1,470	1,470
At 30 April 2021	846	846

5

Debtors

	2022 £	2021 £
Trade debtors	8,170	18,255
Other debtors	500	5,891
	8,670	24,146

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	667	765
Corporation tax	729	2,141
Taxation and social security	2,728	2,634
Other creditors	445	-
Accruals and deferred income	600	600
	5,169	6,140

PVM Consultants Limited

Notes to the Financial Statements

Year Ended 30 April 2022

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	50	50	50	50

8	Related party transactions

Advances to directors

2022	At 1 May 2021 £	Advances to director £	Repayments by director £	At 30 April 2022 £
Director 1
Loan	1,891	3,619	(5,955)	(445)

2021	At 1 May 2020 £	Advances to director £	Repayments by director £	At 30 April 2021 £
Director 1
Loan	2,958	3,100	(4,166)	1,891
Director 2
Loan	8,244	52,256	(60,500)	-