PRACTUS_CONSULTING_LIMITE - Accounts

PRACTUS CONSULTING LIMITED - Company Information

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Company Registration No. 06603303 (England and Wales)

PRACTUS CONSULTING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

PRACTUS CONSULTING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PRACTUS CONSULTING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

946

235

Current assets

Debtors

16,039

30,523

Cash at bank and in hand

1,866

1,940

17,905

32,463

Creditors: amounts falling due within one year

(17,371)

(32,434)

Net current assets

534

Total assets less current liabilities

1,480

264

Provisions for liabilities

(189)

1,291

264

Capital and reserves

Called up share capital

100

Profit and loss account

1,191

164

Shareholders' funds

1,291

264

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 December 2016

P M O'Brien

Director

Company Registration No. 06603303

PRACTUS CONSULTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT.

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 less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% on cost

Fixed assets

Tangible assets

Cost

At 1 April 2015

1,860

Additions

882

At 31 March 2016

2,742

Depreciation

At 1 April 2015

1,625

Charge for the year

171

At 31 March 2016

1,796

Net book value

At 31 March 2016

946

At 31 March 2015

235

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

PRACTUS CONSULTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

Related party relationships and transactions

(Continued)

- 3 -

Director's Loan

The following directors had loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P M O'Brien -

3.00

25,723

48,209

611

58,921

15,622

25,723

48,209

611

58,921

15,622

The director's loan was repaid with 9 months of the year end date.