ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

P MARSHALL ASSOCIATES LIMITED - Company Information

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Registered number: 08375480









P MARSHALL ASSOCIATES LIMITED

UNAUDITED
ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016























PM+M Solutions for Business LLP
Chartered Accountants
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PAGE 1
 
 
P MARSHALL ASSOCIATES LIMITED
 
The following reproduces the text of the Chartered 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 ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF P MARSHALL ASSOCIATES LIMITED
FOR THE YEAR ENDED 31 JANUARY 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P Marshall Associates Limited for the year ended 31 January 2016 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to 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:
www.icaew.com/en/members/regulations-standards-and-guidance/.


This report is made solely to the Board of directors of P Marshall Associates 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 financial statements of P Marshall Associates Limited and state those matters that we have agreed to state to the Board of directors of P Marshall Associates Limited, as a body, in this reportin accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P Marshall Associates Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that P Marshall Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit of P Marshall Associates Limited after profit. You consider that P Marshall Associates Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of P Marshall Associates 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 financial statements.





PM+M Solutions for Business LLP
 
Chartered Accountants
  
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB

30 June 2016

PAGE 2
 
P MARSHALL ASSOCIATES LIMITED
REGISTERED NUMBER: 08375480

ABBREVIATED BALANCE SHEET
AS AT 31 JANUARY 2016

2016
2015
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
239
561
 
CURRENT ASSETS





 
Debtors
17,255
1,009

 
Cash at bank

50,871
56,764







 
68,126
57,773
 
CREDITORS: amounts falling due within one year
(62,953)
(26,749)
 
NET CURRENT ASSETS


5,173

31,024
 
TOTAL ASSETS LESS CURRENT LIABILITIES
5,412
31,585
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(43)
(612)

NET ASSETS




 5,369


 30,973
  
CAPITAL AND RESERVES

 
Called up share capital
3
100
100
 
Profit and loss account
5,269
30,873
 
SHAREHOLDERS' FUNDS
 

 5,369

 30,973


PAGE 3
 
 
P MARSHALL ASSOCIATES LIMITED
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 JANUARY 2016

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 January 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 30 June 2016.





Mr P A Marshall
Director

The notes on pages 4 to 5 form part of these financial statements.


PAGE 4
 

P MARSHALL ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
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 of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Office equipment
-
33% straight line

1.4
Operating leases

Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

1.5
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

1.6
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.


PAGE 5
 

P MARSHALL ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016

2.TANGIBLE FIXED ASSETS



£


Cost 



At 1 February 2015 and 31 January 2016

10,586



Depreciation


At 1 February 2015
10,025

Charge for the year
322


At 31 January 2016

10,347




Net book value


At 31 January 2016
 239


At 31 January 2015

 561


3.SHARE CAPITAL
        2016
        2015
        £

        £

Allotted, called up and fully paid



75 Ordinary A shares shares of £1 each
75
-
25 Ordinary B shares shares of £1 each
25
-
100 Ordinary shares shares of £1 each
-
100

 100

 100

On 10 October 2015 the 100 Ordinary £1 shares were re-designated in to 75 Ordinary A £1 shares and 25 Ordinary B £1 shares.