PROUDFOOT_LIMITED - Accounts

PROUDFOOT LIMITED - Company Information

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Company Registration No. 08496360 (England and Wales)

PROUDFOOT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

PROUDFOOT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PROUDFOOT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

320,000

480,000

Tangible assets

16,924

18,130

336,924

498,130

Current assets

Debtors

60,402

357,217

Cash at bank and in hand

625,113

369,168

685,515

726,385

Creditors: amounts falling due within one year

(546,582)

(679,872)

Net current assets

138,933

46,513

Total assets less current liabilities

475,857

544,643

Capital and reserves

Called up share capital

1,001

Profit and loss account

474,856

543,642

Shareholders' funds

475,857

544,643

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their 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 20 January 2017

Mr M Proudfoot

Director

Company Registration No. 08496360

PROUDFOOT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Plant and machinery

25% on cost

Computer equipment

1/3 on cost

Fixtures, fittings & equipment

25% on cost

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PROUDFOOT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

800,000

31,749

831,749

Additions

6,072

At 30 April 2016

800,000

37,821

837,821

Depreciation

At 1 May 2015

320,000

11,442

331,442

Charge for the year

160,000

9,455

169,455

At 30 April 2016

480,000

20,897

500,897

Net book value

At 30 April 2016

320,000

16,924

336,924

At 30 April 2015

480,000

18,130

498,130

Share capital

2016

2015

Allotted, called up and fully paid

1,001 Ordinary of £1 each

1,001