Abbreviated Company Accounts - PROCYON INSTRUMENTS LIMITED

PROCYON INSTRUMENTS LIMITED - Company Information

Registered Number 03039660

PROCYON INSTRUMENTS LIMITED

Abbreviated Accounts

30 April 2016

PROCYON INSTRUMENTS LIMITED Registered Number 03039660

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	-	-
Tangible assets		-	-
Investments		-	-
		-	-
Current assets
Debtors		74	1,123
Investments		-	-
Cash at bank and in hand		323	1,873
		397	2,996
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(328,485)	(323,759)
Net current assets (liabilities)		(328,088)	(320,763)
Total assets less current liabilities		(328,088)	(320,763)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(328,088)	(320,763)
Capital and reserves
Called up share capital		2,725	2,725
Share premium account		2,015,929	2,015,929
Other reserves		71,410	71,410
Profit and loss account		(2,418,152)	(2,410,827)
Shareholders' funds		(328,088)	(320,763)

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 January 2017

And signed on their behalf by:
Mr C Bell, Director

PROCYON INSTRUMENTS LIMITED Registered Number 03039660

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Other accounting policies
The financial statements have been prepared on a going concern basis on the assumption that the company will be able to realise sufficient funds from the sale of its intellectual property but, in the opinion of the directors there are material uncertainties relating to whether the company will find a buyer for its intellectual property and this casts significant doubt upon the company’s ability to continue to adopt the going concern basis of accounting in the future.

2Intangible fixed assets

	£
Cost
At 1 May 2015	125,265
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	125,265
Amortisation
At 1 May 2015	125,265
Charge for the year	-
On disposals	-
At 30 April 2016	125,265
Net book values
At 30 April 2016	0
At 30 April 2015	0