Prosma Ltd - Accounts to registrar - small 16.3

REGISTERED NUMBER: 06804034 (England and Wales)

Financial Statements

For The Year Ended 31 March 2016

for

Prosma Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S A Pohlmann

SECRETARY:

S A Pohlmann

REGISTERED OFFICE:

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

06804034 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

HSBC

21 Market Place

GAINSBOROUGH

Lincolnshire

DN21 2BU

CURRENT ASSETS

Debtors

2

14,067

24,006

Cash at bank

2,602

3,576

16,669

27,582

CREDITORS

Amounts falling due within one year

3

18,847

28,823

NET CURRENT LIABILITIES

(2,178

)

(1,241

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,178

)

(1,241

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

5

(2,179

)

(1,242

)

SHAREHOLDERS' FUNDS

(2,178

)

(1,241

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 November 2016 and were signed by:

S A Pohlmann - 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

2.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

13,745

23,689

VAT

322

317

14,067

24,006

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

(1

)

23,405

Directors' current accounts

16,903

3,503

Accrued expenses

1,945

1,915

18,847

28,823

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

5.

RESERVES

Profit

and loss

account

£

At 1 April 2015

(1,242

)

Deficit for the year

(937

)

At 31 March 2016

(2,179

)

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company pays sub-contractor charges to S A Pohlman's Sole trader business in Croatia

at a commercial rate amounting to £123,594 (2015 : £130,225). This includes an amount of

£NIL (2015: £23,405) included in creditors.

7.	RELATED PARTY DISCLOSURES

S A Pohlmann, a director and 100% shareholder, had a balance due from the company of

£3,503 (2014 : £3,503) at the 31 March 2015.

8.	ULTIMATE CONTROLLING PARTY

The ultimate control of the company lies with S A Pohlmann.

9.	GOING CONCERN

At 31 March 2015 the financial statements show a deficit of P & L reserves amounting to

£1,242 (2014 : £1,624)

The financial statements have been prepared on a going concern basis. This is considered

appropriate as the company's ability to continue to trade and to meet its debts is covered by

the directors loan account of £3,503 included in creditors which the director has undertaken

not to withdraw to the detriment of other company creditors.