Practical Risk Management Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04174613 (England and Wales)

Abbreviated Accounts

for the Year Ended 30th June 2014

for

Practical Risk Management Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr N T Daniels

Mrs J Daniels

SECRETARY:

Mrs J Daniels

REGISTERED OFFICE:

22 Kirby Lane

Kirby Muxloe

Leicester

LE9 2JG

REGISTERED NUMBER:

04174613 (England and Wales)

ACCOUNTANT:

WD Allsopp FCA

7 Daisy Close

Bagworth

Leicestershire

LE67 1HP

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1

1

1

1

CURRENT ASSETS

Debtors

4

162,052

195,822

Cash at bank

26,977

38,245

189,029

234,067

CREDITORS

Amounts falling due within one year

119,315

149,019

NET CURRENT ASSETS

69,714

85,048

TOTAL ASSETS LESS CURRENT LIABILITIES

69,715

85,049

CREDITORS

Amounts falling due after more than one year

41,098

52,028

NET ASSETS

28,617

33,021

CAPITAL AND RESERVES

Called up share capital

5

1,111

1,111

Profit and loss account

27,506

31,910

SHAREHOLDERS' FUNDS

28,617

33,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 16th October 2014 and were signed on its behalf by:

Mr N T Daniels - Director

1.	ACCOUNTING POLICIES

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 April 2008).

Turnover

Turnover represents contracts invoiced excluding value added tax. Income from contracts is

apportioned evenly over the contract life except that 40% of the first years income from new contracts

is recognised in the first three months.

Goodwill

Goodwill represents the brand "Practical Risk Management" and arose on the acquisition of an existing

business, it is being written off over ten years, being the directors estimate of its useful life.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2013

and 30th June 2014

30,000

AMORTISATION

At 1st July 2013

and 30th June 2014

30,000

NET BOOK VALUE

At 30th June 2014

-

At 30th June 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2013

and 30th June 2014

9,394

DEPRECIATION

At 1st July 2013

and 30th June 2014

9,393

NET BOOK VALUE

At 30th June 2014

1

At 30th June 2013

1

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 49,318 (30.6.13 - £ 62,434 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

5,000

Ordinary A

10p

500

500

5,000

Ordinary B

10p

500

500

1,111

Ordinary C

10p

111

111

1,111

1,111

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N T Daniels.