Practical Participation Limited

Practical Participation Limited

PRACTICAL PARTICIPATION LIMITED - Company Information

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Registered number: 05381958
Practical Participation Limited
Abbreviated accounts
For The Year Ended 31 March 2016
Nimbus Accounting Limited

Chartered Accountants

32 Church Road
Hove
East Sussex
BN3 2FN
Practical Participation Limited
Company No. 05381958
Abbreviated Balance Sheet 31 March 2016
Abbreviated Balance Sheet
2016 2015
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 2 1,338 499
1,338 499
CURRENT ASSETS
Debtors 18,282 27,161
Cash at bank and in hand 114,275 172,480
132,557 199,641
Creditors: Amounts Falling Due Within One Year (19,658 ) (23,587 )
NET CURRENT ASSETS (LIABILITIES) 112,899 176,054
TOTAL ASSETS LESS CURRENT LIABILITIES 114,237 176,553
NET ASSETS 114,237 176,553
CAPITAL AND RESERVES
Called up share capital 3 275 300
Profit and Loss Account 113,962 176,253
SHAREHOLDERS' FUNDS 114,237 176,553
Practical Participation Limited
Company No. 05381958
Abbreviated Balance Sheet (continued) 31 March 2016
For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
Mr Bill Badham
Mr Timothy Davies
Mrs Jennie Fleming
22/12/2016
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Practical Participation Limited
Notes to the Abbreviated Accounts
For The Year Ended 31 March 2016
Notes to the Abbreviated Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.4. 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 the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
1.5. Government grant
Government grants have been disclosed in the financial statement in line with the SSAP 4 disclosure requirements. Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
2. Tangible Assets
Total
Cost £
As at 1 April 2015 8,765
Additions 1,650
As at 31 March 2016 10,415
Depreciation
As at 1 April 2015 8,266
Provided during the period 811
As at 31 March 2016 9,077
Net Book Value
As at 31 March 2016 1,338
As at 1 April 2015 499
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Practical Participation Limited
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 March 2016
3. Share Capital
Value Number 2016 2015
Allotted, called up and fully paid £ £ £
Ordinary shares 1.000 75 75 100
Ordinary A shares 1.000 100 100 100
Ordinary B shares 1.000 100 100 100
275 275 300
4. Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
As at 1 April 2015 Amounts advanced Amounts repaid As at 31 March 2016
£ £ £ £
Mr Timothy Davies 1,179 8,210 7,915 1,475
Mrs Jennie Fleming (35) 1,702 1,529 138
The above loans are unsecured, interest free and repayable on demand.
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