Personnel Vending Services Limited - Limited company - abbreviated

REGISTERED NUMBER: 02085988

Abbreviated Accounts

for the Year Ended 30 September 2015

for

Personnel Vending Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Worgan

W Brooks

SECRETARY:

W Brooks

REGISTERED OFFICE:

Unit 16

Block D, Tuffley Park

Lower Tuffley Lane

Gloucester

Gloucestershire

GL2 5DP

REGISTERED NUMBER:

02085988

ACCOUNTANTS:

GriffithClarke

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

FIXED ASSETS

Intangible assets

2

4,000

-

Tangible assets

3

48,571

31,263

52,571

31,263

CURRENT ASSETS

Stocks

32,387

22,788

Debtors

111,335

98,996

Cash at bank and in hand

823

10,508

144,545

132,292

CREDITORS

Amounts falling due within one year

4

169,492

151,066

NET CURRENT LIABILITIES

(24,947

)

(18,774

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

27,624

12,489

CREDITORS

Amounts falling due after more than one
year

4

(9,537

)

-

PROVISIONS FOR LIABILITIES

(7,274

)

(3,385

)

NET ASSETS

10,813

9,104

CAPITAL AND RESERVES

Called up share capital

5

400

Share premium

1,445

Capital redemption reserve

7,000

Profit and loss account

1,968

259

SHAREHOLDERS' FUNDS

10,813

9,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 13 January 2016 and were signed on its
behalf by:

G Worgan - 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 and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a customer database in 2008 and

a further customer database in 2015, is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Over the term of the lease

Vending machines

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

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

the balance sheet date, where this is considered to be material.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

5,297

Additions

5,000

At 30 September 2015

10,297

AMORTISATION

At 1 October 2014

5,297

Amortisation for year

1,000

At 30 September 2015

6,297

NET BOOK VALUE

At 30 September 2015

4,000

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

124,579

Additions

30,494

Disposals

(7,695

)

At 30 September 2015

147,378

DEPRECIATION

At 1 October 2014

93,316

Charge for year

11,911

Eliminated on disposal

(6,420

)

At 30 September 2015

98,807

NET BOOK VALUE

At 30 September 2015

48,571

At 30 September 2014

31,263

4.

CREDITORS

Creditors include an amount of £ 66,819 (2014 - £ 2,309 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

400

Ordinary

£1

400

6.	TRANSACTIONS WITH DIRECTORS

Rent of £12,250 (2014 : £12,250) was paid to a Self Invested Personal Pension, in which G Worgan

and W Brooks have an interest, for the use of the premises occupied by the company throughout the

year.

Personnel Vending Services Limited - Limited company - abbreviated - 11.9

Personnel Vending Services Limited - Limited company - abbreviated - 11.9