Profitability Business Simulations Limit - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04490565 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2015

for

PROFITABILITY BUSINESS SIMULATIONS

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr N Downing

Mr B Helweg-Larsen

Ms E S Helweg-Larsen

SECRETARY:

Ms E S Helweg-Larsen

REGISTERED OFFICE:

Stables 1

Howbery Park

Wallingford

Oxfordshire

OX10 8BA

REGISTERED NUMBER:

04490565 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

CURRENT ASSETS

Debtors

392,156

406,611

Cash at bank

43,923

34,176

436,079

440,787

CREDITORS

Amounts falling due within one year

545,156

422,103

NET CURRENT (LIABILITIES)/ASSETS

(109,077

)

18,684

TOTAL ASSETS LESS CURRENT LIABILITIES

(109,077

)

18,684

CAPITAL AND RESERVES

Called up share capital

3

1,002

1,002

Profit and loss account

(110,079

)

17,682

SHAREHOLDERS' FUNDS

(109,077

)

18,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 9 October 2015 and were signed on its behalf by:

Mr B Helweg-Larsen - 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).

Preparation of consolidated financial statements

The financial statements contain information about Profitatbility Business Simulations Ltd as

an individual company and do not contain information as the parent of a Group. The

company has taken the option under section 398 of the Companies Act 2006 not to prepare

consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into

sterling at the rate of exchange ruling at the date of transaction. Exchange differences are

taken into account in arriving at the operating result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

700,000

AMORTISATION

At 1 April 2014

and 31 March 2015

700,000

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	CALLED UP SHARE CAPITAL