Prism Engineering Consultancy Limited - Period Ending 2016-05-31

Registration number: 04776686

Prism Engineering Consultancy Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Prism Engineering Consultancy Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Prism Engineering Consultancy Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prism Engineering Consultancy Limited for the year ended 31 May 2016 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Prism Engineering Consultancy 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 Prism Engineering Consultancy Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prism Engineering Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Prism Engineering Consultancy 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 profit of Prism Engineering Consultancy Limited. You consider that Prism Engineering Consultancy 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 Prism Engineering Consultancy 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.

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

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

3 August 2016

Page 1

Prism Engineering Consultancy Limited
(Registration number: 04776686)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Current assets
Debtors					-			1
Cash at bank and in hand					19,811			19,608
					19,811			19,609
Creditors: Amounts falling due within one year					(17,493)			(17,576)
Net assets					2,318			2,033
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,218			1,933
Shareholders' funds					2,318			2,033

For the year ending 31 May 2016 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 director acknowledges his 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 director on 1 August 2016

.........................................
Mr A Thomas
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Prism Engineering Consultancy Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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 January 2015).

Turnover

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

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	33% straight line

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		1,654			1,654
At 31 May 2016		1,654			1,654
Depreciation
At 1 June 2015		1,654			1,654
At 31 May 2016		1,654			1,654
Net book value
At 31 May 2016		-			-
At 31 May 2015		-			-

Page 3

Prism Engineering Consultancy Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4