Paravizion Ltd - Abbreviated accounts 16.1

PARAVIZION LTD

Abbreviated Unaudited Accounts

for the Year Ended 30th April 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Cavanagh

Mrs L E Cavanagh

SECRETARY:

Mrs L E Cavanagh

REGISTERED OFFICE:

Cotton House

Old Hall St

Liverpool

L3 9TX

REGISTERED NUMBER:

03171125 (England and Wales)

ACCOUNTANTS:

The Priory Partnership

Chartered Accountants

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

FIXED ASSETS

Tangible assets

2

36,761

53,901

CURRENT ASSETS

Debtors

61,680

74,173

Cash at bank

45,593

124,859

107,273

199,032

CREDITORS

Amounts falling due within one year

70,354

40,669

NET CURRENT ASSETS

36,919

158,363

TOTAL ASSETS LESS CURRENT LIABILITIES

73,680

212,264

PROVISIONS FOR LIABILITIES

6,957

6,351

NET ASSETS

66,723

205,913

CAPITAL AND RESERVES

Called up share capital

3

801

Profit and loss account

65,922

205,112

SHAREHOLDERS' FUNDS

66,723

205,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15th December 2016 and were signed on its
behalf by:

A J Cavanagh - 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 goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 6 years

Plant and machinery

-

33% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

307,464

Additions

9,307

At 30th April 2016

316,771

DEPRECIATION

At 1st May 2015

253,563

Charge for year

26,447

At 30th April 2016

280,010

NET BOOK VALUE

At 30th April 2016

36,761

At 30th April 2015

53,901

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

550

Ordinary A shares

1

550

251

Ordinary B shares

1

251

801