Practical Participation Limited

PRACTICAL PARTICIPATION LIMITED - Company Information

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Registered number: 05381958

Abbreviated accounts

For The Year Ended 31 March 2015

Nimbus Accounting Limited

Chartered Accountants

32 Church Road

Hove

East Sussex

BN3 2FN

Practical Participation Limited

Accountant's Report

For The Year Ended 31 March 2015

Accountant's Report

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of the company in accordance with our terms of engagement.Our work has been undertaken solely to prepare for your approval the financial statements of the company Limited and state those matters that we have agreed to state to the director of the company in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of the company. You consider that the company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Nimbus Accounting Limited

20/10/2015

Nimbus Accounting Limited

Chartered Accountants

32 Church Road

Hove

East Sussex

BN3 2FN

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Practical Participation Limited

Company No. 05381958

Abbreviated Balance Sheet 31 March 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	2		499		459

			499		459
CURRENT ASSETS
Debtors		27,126		27,997
Cash at bank and in hand		172,480		143,649

		199,606		171,646
Creditors: Amounts Falling Due Within One Year		(23,552)		(22,565)

NET CURRENT ASSETS (LIABILITIES)			176,054		149,081

TOTAL ASSETS LESS CURRENT LIABILITIES			176,553		149,540

NET ASSETS			176,553		149,540

CAPITAL AND RESERVES
Called up share capital	3		300		300
Profit and Loss account			176,253		149,240

SHAREHOLDERS' FUNDS			176,553		149,540

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Practical Participation Limited

Company No. 05381958

Abbreviated Balance Sheet (continued) 31 March 2015

For the year ending 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mrs Jennie Fleming	Mr Bill Badham	Mr Timothy Davies
20/10/2015

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Practical Participation Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% on cost
Computer Equipment	33% on cost

Government grant

Government grants have been disclosed in the financial statement in line with the SSAP 4 disclosure requirements. Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Tangible Assets


	Total
Cost	£
As at 1 April 2014	8,050
Additions	715

As at 31 March 2015	8,765

Depreciation
As at 1 April 2014	7,591
Provided during the period	675

As at 31 March 2015	8,266

Net Book Value
As at 31 March 2015	499

As at 1 April 2014	459

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Practical Participation Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2015

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid:	£		£	£
Ordinary shares	1.000	100	100	100

Ordinary A shares	1.000	100	100	100

Ordinary B shares	1.000	100	100	100




		300	300	300

Transactions With and Loans to Directors

Included within Debtors are the following loans to directors:

	As at 1 April 2014	Amounts advanced	Amounts repaid	As at 31 March 2015
	£	£	£	£
Mr Bill Badham	98	1,179	1,089	188
Mr Timothy Davies	21,735	15,468	36,024	1,179

The above loans are unsecured, interest free and repayable on demand.

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