Procyon Business Systems Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 05722505 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

PROCYON BUSINESS SYSTEMS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D Furniss

REGISTERED OFFICE:

5 Melbourne House

Melbourne Street

Hebden Bridge

West Yorkshire

HX7 6AU

REGISTERED NUMBER:

05722505 (England and Wales)

ACCOUNTANTS:

Cresswells

Barclays Bank Chambers

Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Tangible assets

2

52

194

CURRENT ASSETS

Debtors

22,901

19,972

Cash at bank

201,996

131,111

224,897

151,083

CREDITORS

Amounts falling due within one year

39,312

24,059

NET CURRENT ASSETS

185,585

127,024

TOTAL ASSETS LESS CURRENT
LIABILITIES

185,637

127,218

PROVISIONS FOR LIABILITIES

10

39

NET ASSETS

185,627

127,179

CAPITAL AND RESERVES

Called up share capital

3

200

Share premium

3,382

Profit and loss account

182,045

123,597

SHAREHOLDERS' FUNDS

185,627

127,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 10 May 2016 and were signed by:

D Furniss - 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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Computer equipment

-

over 3 years

Deferred tax

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

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

1,392

DEPRECIATION

At 1 March 2015

1,198

Charge for year

142

At 29 February 2016

1,340

NET BOOK VALUE

At 29 February 2016

52

At 28 February 2015

194

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary

£1

200