PSM_HAMILTON_LIMITED - Accounts
PSM_HAMILTON_LIMITED - Accounts
Company Registration No. 07280833 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PSM HAMILTON LIMITED FOR THE YEAR ENDED 30 JUNE 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PSM Hamilton Limited for the year ended 30 June 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of PSM Hamilton Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2015. Our work has been undertaken solely to prepare for your approval the financial statements of PSM Hamilton Limited and state those matters that we have agreed to state to the Board of Directors of PSM Hamilton Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PSM Hamilton Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that PSM Hamilton Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PSM Hamilton Limited. You consider that PSM Hamilton Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of PSM Hamilton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
-
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(23,223 )
(24,084 )
Net current liabilities
(19,894 )
(9,354 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(189,937 )
(199,157 )
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 31 March 2017
Director
Company Registration No. 07280833
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
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.
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Tangible fixed assets consist of investment properties valued by the directors on an existing use open market value basis.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
Additions
At 30 June 2016
At 30 June 2015
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £11,008 (2015 - £10,696 ).
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
4
Creditors: amounts falling due after more than one year
Total amounts repayable by instalments which are due in more than five years
The aggregate amount of creditors for which security has been given amounted to £154,642 (2015 - £165,580 ).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid