Abbreviated Company Accounts - PRIME SCRIPTING LIMITED
Abbreviated Company Accounts - PRIME SCRIPTING LIMITED
Registered Number NI618534
PRIME SCRIPTING LIMITED
Abbreviated Accounts
30 June 2016
PRIME SCRIPTING LIMITED Registered Number NI618534
Abbreviated Balance Sheet as at 30 June 2016
| Notes | 2016 | 2015 | |
|---|---|---|---|
| £ | £ | ||
| Current assets | |||
| Debtors |
|
|
|
| Cash at bank and in hand |
|
|
|
|
|
|
||
| Creditors: amounts falling due within one year |
( |
( |
|
| Net current assets (liabilities) |
( |
( |
|
| Total assets less current liabilities |
( |
( |
|
| Total net assets (liabilities) |
( |
( |
|
| Capital and reserves | |||
| Called up share capital | 2 |
|
|
| Profit and loss account |
( |
( |
|
| Shareholders' funds |
( |
( |
|
For the year ending 30 June 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
And signed on their behalf by:
PRIME SCRIPTING LIMITED Registered Number NI618534
Notes to the Abbreviated Accounts for the period ended 30 June 2016
1Accounting Policies
Basis of measurement and preparation of accounts
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2014. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.