Procurement Specialist Consulting Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08532723 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

PROCUREMENT SPECIALIST CONSULTING LTD

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

160

294

CURRENT ASSETS

Debtors

5,011

1,936

Cash at bank

3,007

1,121

8,018

3,057

CREDITORS

Amounts falling due within one year

7,897

6,277

NET CURRENT ASSETS/(LIABILITIES)

121

(3,220

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

281

(2,926

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

280

(2,927

)

SHAREHOLDERS' FUNDS

281

(2,926

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27 February 2017 and were signed by:

J A Balmforth - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below and have remained unchanged

from the previous year.

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 comprises the value of sales of services provided in the normal course of business. Revenue is

recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets

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

Computer equipment

-

33% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

407

DEPRECIATION

At 1 June 2015

113

Charge for year

134

At 31 May 2016

247

NET BOOK VALUE

At 31 May 2016

160

At 31 May 2015

294

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2016 and

31 May 2015:

2016

2015

£

J A Balmforth

Balance outstanding at start of year

1,936

-

Amounts advanced

5,141

2,066

Amounts repaid

(2,066

)

(130

)

Balance outstanding at end of year

5,011

1,936