PSI_MARKETING_LIMITED - Accounts

PSI MARKETING LTD - Company Information

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Company Registration No. 5472307 (England and Wales)

PSI MARKETING LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

PSI MARKETING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PSI MARKETING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

60,325

66,747

Current assets

Stocks

11,309

14,823

Debtors

60,585

71,280

Cash at bank and in hand

58,115

90,541

130,009

176,644

Creditors: amounts falling due within one year

(102,758)

(136,172)

Net current assets

27,251

40,472

Total assets less current liabilities

87,576

107,219

Creditors: amounts falling due after more than one year

(46,236)

Provisions for liabilities

(10,185)

(11,119)

77,391

49,864

Capital and reserves

Called up share capital

100

Profit and loss account

77,291

49,764

Shareholders' funds

77,391

49,864

PSI MARKETING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 2 -

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 27 January 2016

P C Hanson

Director

Company Registration No. 5472307

PSI MARKETING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% on reducing balance basis

Fixtures, fittings & equipment

15% on reducing balance basis

1.5

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

PSI MARKETING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 July 2014

89,721

Additions

4,764

At 30 June 2015

94,485

Depreciation

At 1 July 2014

22,974

Charge for the year

11,186

At 30 June 2015

34,160

Net book value

At 30 June 2015

60,325

At 30 June 2014

66,747

Creditors: amounts falling due within one year

The bank overdraft is secured by a bank debenture and a personal guarantee from the director.

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P C Hanson - loan

3,702

Other transactions

Included within other creditors is an amount due to the director of £836.