Parental Choice Limited - Period Ending 2015-09-30

Registration number: 07656195

Parental Choice Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB

Parental Choice Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Parental Choice Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parental Choice Limited for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Parental Choice Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Parental Choice Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parental Choice Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Parental Choice Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Parental Choice Limited. You consider that Parental Choice Limited 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 accounts of Parental Choice Limited. 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 accounts.

......................................

Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB

9 March 2016

Page 1

Parental Choice Limited
(Registration number: 07656195)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					-			8,763
Tangible fixed assets					6,554			2,186
					6,554			10,949
Current assets
Debtors					15,313			2,640
Cash at bank and in hand					6,005			9,455
					21,318			12,095
Creditors: Amounts falling due within one year					(96,628)			(57,279)
Net current liabilities					(75,310)			(45,184)
Total assets less current liabilities					(68,756)			(34,235)
Creditors: Amounts falling due after more than one year					(28,750)			-
Net liabilities					(97,506)			(34,235)
Capital and reserves
Called up share capital		3			114			114
Share premium account					23,886			23,886
Profit and loss account					(121,506)			(58,235)
Shareholders' deficit					(97,506)			(34,235)

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 March 2016 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Parental Choice Limited
(Registration number: 07656195)
Abbreviated Balance Sheet at 30 September 2015
......... continued

.........................................
Mrs S J Butler
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Parental Choice Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued support of the directors who guarantee the liabilities of the company.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,
over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Website	3 years straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line basis
Computer equipment	33% straight line basis

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Parental Choice Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2014		23,888			2,733			26,621
Additions		-			6,941			6,941
At 30 September 2015		23,888			9,674			33,562
Depreciation
At 1 October 2014		15,125			547			15,672
Charge for the year		8,763			2,573			11,336
At 30 September 2015		23,888			3,120			27,008
Net book value
At 30 September 2015		-			6,554			6,554
At 30 September 2014		8,763			2,186			10,949

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £0.01 (2014 - £0.00) each		11,400			114			-			-

Page 5