Pro System Audio Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07631138 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2015

for

Pro System Audio Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr S Ludwell

REGISTERED OFFICE:

19-21 Manor Road

Caddington

Bedfordshire

LU1 4EE

REGISTERED NUMBER:

07631138 (England and Wales)

ACCOUNTANTS:

Astons Accountants

19-21 Manor Road

Caddington

Bedfordshire

LU1 4EE

FIXED ASSETS

Intangible assets

2

4,000

6,000

Tangible assets

3

2,167

1,758

6,167

7,758

CURRENT ASSETS

Debtors

5,287

252

Cash at bank and in hand

28,124

31,079

33,411

31,331

CREDITORS

Amounts falling due within one year

38,557

37,426

NET CURRENT LIABILITIES

(5,146

)

(6,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,021

1,663

CAPITAL AND RESERVES

Called up share capital

4

3

3

Profit and loss account

1,018

1,660

SHAREHOLDERS' FUNDS

1,021

1,663

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 14 January 2016 and were signed by:

Mr S Ludwell - 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, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Computer equipment

-

33% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

10,000

AMORTISATION

At 1 June 2014

4,000

Amortisation for year

2,000

At 31 May 2015

6,000

NET BOOK VALUE

At 31 May 2015

4,000

At 31 May 2014

6,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

2,345

Additions

1,492

At 31 May 2015

3,837

DEPRECIATION

At 1 June 2014

587

Charge for year

1,083

At 31 May 2015

1,670

NET BOOK VALUE

At 31 May 2015

2,167

At 31 May 2014

1,758

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

1

Ordinary 'A'

£1

1

1

1

Ordinary 'B'

£1

1

1

1

Ordinary 'C'

£1

1

1

3

3