Pragmatix Advisory Limited Filleted accounts for Companies House (small and micro)

Pragmatix Advisory Limited Filleted accounts for Companies House (small and micro)

PRAGMATIX ADVISORY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12403422
Pragmatix Advisory Limited
Filleted Unaudited Financial Statements
31 March 2021
Pragmatix Advisory Limited
Statement of Financial Position
31 March 2021
31 Mar 21
Note
£
£
Fixed assets
Tangible assets
5
3,056
Current assets
Debtors
6
27,681
Cash at bank and in hand
97,380
---------
125,061
Creditors: amounts falling due within one year
7
36,376
---------
Net current assets
88,685
--------
Total assets less current liabilities
91,741
--------
Net assets
91,741
--------
Capital and reserves
Called up share capital
8
100
Profit and loss account
91,641
--------
Shareholders funds
91,741
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2021 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pragmatix Advisory Limited
Statement of Financial Position (continued)
31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 12 October 2021 , and are signed on behalf of the board by:
Mr M A Pragnell
Director
Company registration number: 12403422
Pragmatix Advisory Limited
Notes to the Financial Statements
Period from 14 January 2020 to 31 March 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, CM2 0AW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has considered the impact of the covid-19 pandemic in his assessment of the company's ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the company and its customers, but having taken all the factors into account, the director is of the opinion that the company has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20 % straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The number of persons employed by the company during the period amounted to 7 .
5. Tangible assets
Equipment
£
Cost
At 14 January 2020
–
Additions
3,594
-------
At 31 March 2021
3,594
-------
Depreciation
At 14 January 2020
–
Charge for the period
538
-------
At 31 March 2021
538
-------
Carrying amount
At 31 March 2021
3,056
-------
6. Debtors
31 Mar 21
£
Trade debtors
27,681
--------
7. Creditors: amounts falling due within one year
31 Mar 21
£
Trade creditors
2,500
Accruals and deferred income
1,818
Corporation tax
22,002
Social security and other taxes
9,630
Other creditors
426
--------
36,376
--------
8. Called up share capital
Issued, called up and fully paid
31 Mar 21
No.
£
Ordinary shares of £ 1 each
100
100
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